The business manager/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 (2007).

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

Approved    4-16-12                              
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.

NOTE:  The sentence regarding the sworn statement from the depository bank is a legal requirement.

Legal Reference:  Iowa Code §§ 279.31, .33 (2007).

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

Approved    4-16-12                              
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.

NOTE:  This policy reflects the legal requirements for school district publications.

Legal Reference:  Iowa Code §§ 279.35, .36; 618 (2007).
                                       1952 Op. Att'y Gen. 133.

Cross Reference:  206.3    Secretary [or Secretary-Treasurer]

Approved    4-16-12                              
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 (2007).

Cross Reference:  701       Financial Accounting System
                                       707       Fiscal Reports

Approved    4-16-12                              
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 control 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 and 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, 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 vice-president, who shall be empowered to contact the
board’s legal counsel, insurance agent, auditing firm, and any other agency to investigate the concern or complaint.

Upon approval of the board, the superintendent may contact the State Auditor or elect to employ the school district’s auditing firm or State Auditor to conduct a complete or partial
forensic/internal control/SAS99 audit annually or otherwise as often as deemed necessary.  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.  The superintendent shall ensure the State Auditor is notified of any suspected
embezzlement or theft pursuant to Iowa law.  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 ch. 11, 279.8 (2007).

Cross References:  707.6    Audit Committee

Approved    4-16-12                              

Revised __________                            
Reviewed __________