Except as otherwise provided by law, all monies collected or received by an officer, employee, or agent of the local school administrative unit or an individual school will be deposited in accordance with this policy. Each officer, employee, and agent of the local school administrative unit or individual school whose duty it is to collect or receive any taxes or other monies will deposit daily his or her collections and receipts daily. However, if the amount on hand is less than $1,500, daily deposits are encouraged but are not required. Regardless of the amount on hand, all funds will be deposited on the last business day of each month. All deposits will be made with the finance officer or in an official depository. Deposits in an official depository will be reported immediately to the finance officer or individual school treasurer by means of a duplicate deposit ticket.
At any time, the finance officer may audit the accounts of any officer, employee, or agent collecting or receiving any taxes or other monies and may prescribe the form and detail of these accounts. The accounts of such an officer, employee, or agent will be audited at least annually.
Legal Reference: G.S. 115C-445
Cross References:
Adopted: January 9, 2006
Revised: October 2, 2023