701.1 Depository of Funds

POSTED: July 26, 2024

Code No.  701.1                                                                                 DEPOSITORY OF FUNDS

 

Each year at its annual meeting, the board will designate by resolution the name and location of the Iowa located financial depository institution or institutions to serve as the official school district depository or depositories.  The maximum deposit amount to be kept in the depository will be stated in the resolution.  The amount stated in the resolution must be for all depositories and include all of the school district’s funds.

 

It is the responsibility of the board secretary to include the resolution in the minutes of the meeting.

 

Legal Reference: Iowa Code §§ 279.33 (2007).

 

Cross Reference: 210.1 Annual Meeting

206.4 Treasurer [or 206.3, Secretary-Treasurer]

704.1 Local – State – Federal – Miscellaneous Revenue

 

Approved: July 12, 1982

Reviewed: February 7, 2005

Revised: December 15, 1998