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703.2

Financial Reports

Monthly Reports:

The Board Secretary will work with the Board Treasurer to file monthly financial reports with the Board of Education detailing important financial information for the period including: receipts and disbursements, expenditures and revenues, ending fund balances, cash and investment balances, and the estimate end of fiscal year unspent balance of the General Fund.

The sequence of the monthly financial reports for Board approval at the monthly Board of Education regular business meeting will be as follows:

  • Approval of Claims and Inter-fund Transfers
  • Statement of Receipts, Disbursements and Cash Balances
    • Quarterly – Audit Committee Review of Selected Local Revenue Account
    • Quarterly –Book Fee Collection Report
  • Investments Report
  • Activity Fund Financial Reports
  • Budget Summary of Revenues and Expenditures
  • Food and Nutrition Financial Statements
  • Unspent Balance Report

Annual Reports

Local Education Agency-Certified Annual Report (LEA-CAR): The Manager of Accounting will upload the District chart of accounts to the Director of the Department of Education by the deadline established by the Department of Education. Highlights of this information will be provided to the Board of Education at its annual organizational meeting.

Comprehensive Annual Financial Report (CAFR)

The Board Treasurer will provide the Board with a copy of the Comprehensive Annual Financial Report for approval and it will be reviewed by the District Audit Committee.

 

Code of Iowa: Chapter 291.7, 291.10, 291.14, 279.33

 


  • Approved: 03-27-78
  • Reviewed: 09-11-89
  • Revised: 08-24-92, 03-24-97, 01-11-99, 08-25-03, 03-10-08, 01-13-14, 02-14-19
  • Documents: 703.2

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