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BP 3400 Management of District Assets-Accounts

KPBSD Policy Manual

BP 3400

Business and Instructional Support Operations
MANAGEMENT OF DISTRICT ASSETS/ACCOUNTS

The Superintendent shall provide ongoing internal accounting controls and a means for the accounting of income and expenditures as outlined in the adopted budget.

(cf. 3440 – Inventories)

Outstanding Encumbrances

Encumbrances outstanding at the end of any fiscal year shall be designated as non-lapsing appropriations to be carried forward to the subsequent year’s budget.

Fund Balance

Designations of fund balance shall be approved by the Board.

Audits

The Board shall provide for an annual audit of District accounts by a certified public accountant who has no personal interest in District fiscal affairs.  The audit shall be conducted in accordance with the requirements of state and federal regulations. 

Legal Reference:

ALASKA STATUTES

14. 08.111  Duties (Regional school boards)

14.14.050  Annual Audit

14.14.060  Relationship between borough school district and borough

14.14.065  Relationship between city school district and city

14.17.505  Fund balance in school operating fund

ALASKA ADMINISTRATIVE CODE

4 AAC 06.120  Accounting and audit manuals, charts of accounts, code descriptions

4 AAC 06.121  Annual financial reporting requirements

4 AAC 09.130  School district audit

4 AAC 09.160  Fund balance


KENAI PENINSULA BOROUGH SCHOOL DISTRICT
Adoption Date: 1/12/2009

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