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701.1 DEPOSITORY OF FUNDS

Each year at its annual meeting, the board shall 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 shall 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 shall be the responsibility of the board secretary to include the resolution in the minutes of the meeting.

 

 

Legal Reference:        

     Iowa Code ßß 12C; 279.33 .

Related Administrative Rules and Regulations:

     210.1 Annual Meeting,   

     206.4  Treasurer   (or 206.3, Secretary-Treasurer)

     704.1  Local State Federal Miscellaneous Revenue

 

Approved: 11/9/1981         Reviewed: 10/12/2020                            Date of Revision:  10/12/2020