P0425 TREASURER AND ASSISTANT TREASURER

BOARD POLICY:

The Board of Education shall appoint a Treasurer and one or more assistant treasurers who shall report directly to the Board and who shall serve at the pleasure of the Board. The Treasurer and Assistant Treasurer shall not be members of the Board and shall not be the same person as the Superintendent of Schools or Clerk. The Treasurer shall perform the duties of the office as prescribed by Kansas statutes and other duties assigned by the Board. The Assistant Treasurer shall perform the duties of the Treasurer in the absence of the Treasurer.

Implemental Procedures:

1.      The Treasurer shall keep a record of the amount on hand in the treasury, which record shall show at all times the amount of money in each particular fund. (KSA 10-1118)

2.      The Treasurer shall deposit all monies of the school district in accordance with the provisions of Chapter 9, Article 14, of Kansas Statutes Annotated. Each month the Treasurer shall prepare a written report of the finances of the district. (KSA 72-8202d) Such monthly reports shall include a month ending balance sheet, a month ending year to date report on revenues and expenditures, a month ending year to date comparison of revenues and expenditures to budget for each fund. An annual financial report providing year-end financial information shall also be provided to the Board.

3.      It shall be unlawful for the Treasurer to knowingly pay any order, warrant, check, or other evidence of indebtedness of the treasury in excess of funds actually on hand in the treasury at the time for such purpose. (KSA 10-1115)

4.      The Treasurer, in conjunction with the Clerk, shall open and keep an account of each fund showing the total amount appropriated for each fund and shall charge such appropriation with the amount of any indebtedness created at the time such indebtedness is incurred. No money in any fund shall be used to pay for any indebtedness created in excess of the total amount of the adopted budget of expenditures for such fund. The Treasurer shall not cause or allow the money in any fund to be diverted to another fund. (KSA 79-2934)

5.      The Treasurer, in conjunction with the Clerk, shall keep a record of the amount of money in the treasury and each particular fund and shall keep a record of all indebtedness and contracts creating a liability against the school district. Such records shall show the date of the making of the contracts or the debt, the time payable, and the particular fund from which payment is to be made. (KSA 10-1117)

6.      The Treasurer shall:

a.       Coordinate and direct accounting, bookkeeping, billing, and collection activities of the school district.

b.      Supervise debt administration and the investment policy for the school district.

c.       Coordinate and supervise preparation of the school district budget.

7.      The Treasurer shall maintain a complete record of all investments authorized by state statute and shall make a quarterly written report of such record to the Board. (KSA 12-1677b)

8.      The Treasurer shall furnish a surety bond for which the premium shall be authorized by the Board and paid by the school district. (KSA 72-8202d) The bond shall be in the amount of $500,000. The assistant treasurer shall be bonded for an amount of $250,000 under the school district's blanket employee bond.

9.      The Treasurer and Assistant Treasurer shall perform his/her duties in compliance with state statute and regulation and with Board policy.

Latest Revision Date: July 1991

Previous Revision Date: June 1989                                                                                P0425