The board secretary will report to the board each month about the receipts, disbursements and balances of the various funds.  This report will be in written form and sent to the board with the agenda for the board meeting.

Legal Reference:  Iowa Code §§ 279.8; 291.7.

Cross Reference:  206.3                                      Secretary [or 206.3, Secretary-Treasurer]
                                        210.1                                      Annual Meeting
                                        707                                      Fiscal Reports

Approved      6/21/21                            
Reviewed                                                                               
Revised                   

At the annual meeting, the treasurer will give the annual report stating the amount held over, received, paid out, and on hand in the general and schoolhouse funds.  This report is in written form and sent to the board with the agenda for the board meeting.  The treasurer will also furnish the board with a sworn statement from each depository showing the balance then on deposit.

It is the responsibility of the treasurer to submit this report to the board annually.

Legal Reference:  Iowa Code §§ 279.31, .33.

Cross Reference:  206.4                                      Treasurer [or 206.3, Secretary-Treasurer]
                                       210.1                                      Annual Meeting
                                       707                                      Fiscal Reports

Approved      6/21/21                            
Reviewed                                                                               
Revised                   

Each month the schedule of bills allowed by the board is published in a newspaper designated as a newspaper for official publication.  Annually, the total salaries paid to employees regularly employed by the school district will also be published in a newspaper designated as a newspaper for official publication.

It is the responsibility of the board secretary to publish these reports in a timely manner.

Legal Reference:  Iowa Code §§ 279.35, .36; 618.

Cross Reference:  206.3                                      Secretary [or Secretary-Treasurer]

Approved      6/21/21                            
Reviewed                                                                               
Revised                   

To review the funds and accounts of the school district, the board will employ an auditor to perform an annual audit of the financial affairs of the school district.  The superintendent will use a request for proposal procedure in selecting an auditor.  The administration will cooperate with the auditors.

Legal Reference:  Iowa Code § 11.6

Cross Reference:  701                                      Financial Accounting System
                                       707                                      Fiscal Reports

Approved      6/21/21                            
Reviewed                                                                               
Revised                   

The board expects all board members, employees, volunteers, consultants, vendors, contractors, students and other parties maintaining any relationship with the school district to act with integrity, due diligence, and in accordance with all laws in their duties involving the school district’s resources.  The board is entrusted with public dollars and no one connected with the school district should do anything to erode that trust.

Internal controls are used to help ensure the integrity of district financial and accounting information. Adherence to district established internal control procedures is the responsibility of all employees of the school district. The superintendent, business manager and board secretary shall be responsible for developing internal controls designed to prevent and detect fraud, financial impropriety, or fiscal irregularities within the school district subject to review and approval by the board.  Administrators shall be alert for any indication of fraud, financial impropriety, or irregularity within the administrator’s area of responsibility.

Any employee who suspects fraud, impropriety, or irregularity shall report their suspicions immediately to his/her immediate supervisor, or the superintendent.  The superintendent shall have primary responsibility for any necessary investigations and shall coordinate investigative efforts with the board’s legal counsel, auditing firm, the Auditor of State's office and other internal or external departments and agencies, including law enforcement officials, as the superintendent may deem appropriate.

Employees bringing forth a legitimate concern about a potential impropriety will not be retaliated against and those who do retaliate against such an employee will be subject to disciplinary action up to, and including, discharge.

In the event the concern or complaint involves the superintendent, the concern shall be brought to the attention of the board president or vice-president who shall be empowered to contact the board’s legal counsel, Auditor of State's office, insurance agent, auditing firm, and any other agency to investigate the concern or complaint.

The superintendent or board president shall ensure the Auditor of State’s office is notified of any suspected embezzlement, theft or other financial irregularity pursuant to Iowa law.  The superintendent and/or board president in coordination with the Auditor of State’s office, will determine whether to conduct a complete or partial audit.  The superintendent is authorized to order a complete forensic audit if, in the superintendent’s judgment, such an audit would be useful and beneficial to the school district.  In the event there is an investigation, records will be maintained for use in the investigation.  Individuals found to have altered or destroyed records will be subject to disciplinary action, up to and including termination.

Legal References:  American Competitiveness and Corporate Accountability Act of 2002, Pub. L.
                                          No. 107-204.
                                          Iowa Code §§ 11, 279.8.

Cross References:  401.12     Employee Use of Cell Phones
                                         707.6       Audit Committee

Approved      6/21/21                            
Revised __________                            
Reviewed __________

The board recognizes that it is charged with raising tax revenues and related expenditures to maintain the educational program for the school district.  Public funds are held in trust by the board to be spent appropriately on the educational program.  To further ensure funds are spent appropriately, the board establishes an audit committee to assist the board on internal financial matters and with the annual audit. 

The audit committee is comprised of two school board members.

The audit committee chair is selected by the board.

The major responsibilities of the audit committee are to:

• Act as a liaison between the board and the auditor during the audit process.
• Annually report to the board about the annual audit.
• Recommend internal changes that may need to be made to ensure appropriate internal controls are being implemented.

The audit committee will meet as directed by its chair.  The audit committee is subject to the open meetings law.

Legal References:  American Competitiveness and Corporate Accountability Act of    2002, Pub. L. No. 107-204.
                                         Iowa Code ch. 11, 279.8.

Cross References:  208       Ad Hoc Committees
                                        707.5    Internal Controls

Approved      6/21/21                            
Revised __________                            
Reviewed __________