7510 -DAILY DEPOSITS
Except as otherwise provided by law, all monies collected or received by an officer, employee, or agent of the school system or an individual school shall be deposited in accordance with this policy. Each officer, employee, and agent of the school system or individual school whose duty it is to collect or receive any taxes or other monies shall deposit his collections and receipts daily; provided, however, if the amount on hand is less than $100 daily deposits are encouraged but not required by the Board. Regardless of the amount on hand, all funds shall be deposited at the end of each school week and on the last business day of each month. All deposits shall be made with the school system's finance officer or in an official depository. Deposits in an official depository shall be reported immediately to the school system's finance officer or individual school treasurer by means of a duplicate deposit ticket. The school system's finance officer may at any time audit the accounts of any officer, employee, or agent collecting or receiving any taxes or other monies, and may prescribe the form and detail of these accounts. The accounts of such an officer, employee, or agent shall be audited at least annually.
Legal Reference: G.S.115C-445
Adopted Effective: July 1, 1999
