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Section D-Fiscal Management


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DBG   Budget Adoption Process

Following consideration of the budget proposal presented by the administration, the Board shall approve a proposed budget.

Within 10 days of submission of a proposed budget to the Board, a notice shall be published in a newspaper having general circulation within the school district that:

1.      The proposed budget is available for inspection by the public at the central administrative office during business hours.

2.      The Board will consider the adoption of the proposed budget at a hearing to be held at the date, time and place specified in the notice.

3.      Any interested taxpayer may inspect the proposed budget and file or register any objections thereto at any time prior to final adoption of the budget by the Board.

At the budget hearing specified in the notice, the Board will present and explain the proposed budget, inviting questions and discussion from the audience.  If the budget is to be adopted at a future meeting, the date, time and place of such meeting shall be entered in the minutes of the hearing.

The Board shall officially adopt the budget and an accompanying appropriations resolution prior to the end of the fiscal year.

After adoption of the budget, the Board may review and change the budget with respect to both revenues and expenditures at any time prior to January 31 of the fiscal year for which adopted.  After January 31 the Board shall not review or change the budget except as otherwise authorized by state law including declaration of a fiscal emergency.

If money for a specific purpose other than ad valorem taxes becomes available to meet a contingency after January 31, the Board may adopt a supplemental budget for expenditures not to exceed that amount.

If the district is authorized to raise and expend additional local property tax revenues at an election, the Board may adopt a supplemental budget and appropriation resolution to cover the remainder of the fiscal year following the election based on the additional dollar amount authorized.

LEGAL REFS:   See citations on policy coded DBG-E

                        C.R.S. 22-7-105

                        C.R.S. 22-44-103

                        C.R.S. 22-44-107 through 111

                        C.R.S. 22-44-115

                        C.R.S. 22-44-115.5

 

CROSS REFS:  DEA, Funds from Local Tax Sources

                       

Adopted:  November, 2008

 

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DBG-E  Deadlines in Budgeting Process Set by Statute

By December 15

Board of Education must certify to Board of County Commissioners the separate amounts necessary to be raised by taxes for the school district’s general, bond redemption, transportation and special building funds [C.R.S. 22-40-102 (1); C.R.S. 39-5-128]

By June 1

Proposed budget must be submitted to Board of Education for tentative approval [C.R.S. 22-44-108 (1)]

Within 10 days of above

Notice of proposed budget must be published; budget must be made available for public inspection [C.R.S. 22-44-109 (1)]

Before final adoption

Public hearings must be held [C.R.S. 22-44-110 (1)]

Before end of fiscal year (June 30)

Board must adopt official budget and appropriations resolution [C.R.S. 22-44-103 (1), 22-44-107 (1), 22-44-110 (4)]

By January 31

Board may review and change the budget with respect to both revenues and expenditures [C.R.S. 22-44-110 (5)]

By January 31 (as of 2009)

Local board submits its adopted annual budget to CDE.  Budget shall include data available to local board as of December 31 of the preceding calendar year. [C.R.S. 22-44-111] 

At least 60 days prior to election

Ballot question must be delivered to county clerk and recorder [C.R.S. 1-5-203 (3)]

First Tuesday in November in odd numbered years; general election date in even-numbered years

District may request authorization to raise additional local revenues subject to limitations set forth in law [Colorado Constitution, Article X, Section 20; C.R.S. 22-54-108]

Following election

If the district is authorized to raise and spend additional local revenues, Board may adopt a supplemental budget [C.R.S. 22-44-110(6)]

Adopted:  November, 2008

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DEA  Funds from Local Tax Sources

Mill levies

If the Board of Education is of the opinion that revenues in excess of those provided through equalization program funding are necessary to provide for the needs of the district, the Board may seek authorization at an election to raise additional local property tax revenues.  The requested amount shall not exceed 25 percent of the district's total program funding for the budget year in which the limitation was reached or $200,000, whichever is greater.

The Board shall call an election to raise additional local revenues if an initiative petition containing signatures of at least five percent of the registered electors in the dis­trict is properly submitted to the Board.  An initiative petition shall be submitted at least 90 days prior to the election date in order to be valid.

Such elections shall be held on the first Tuesday in November in odd-numbered years in conjunction with the regular biennial school election or on general election day in even-numbered years.  The election shall be conducted by the county clerk and recorder in accordance with applicable law.

Transportation mill levies

The Board of Education may submit the question of whether to impose a mill levy for the payment of excess transportation costs at an election held in conjunction with the regular biennial election in odd-numbered years or with the general election in even-numbered years.  The term “excess transportation costs” is defined in state law and generally means the district’s operating and capital expenditures for the transportation program that are not reimbursed by the state.

If the measure passes, the district shall deposit the resulting revenue in the transportation fund.

Kindergarten mill levy

The Board of Education may submit the question of whether to impose a mill levy for additional local property tax revenues to provide funding for excess full-day kindergarten program costs.  The Board may include a question of whether to impose an additional mill levy of a stated amount and limited duration to meet the initial capital construction needs of the district associated with a full-day kindergarten program. “Excess full-day kindergarten program costs” are defined in state law as the costs that exceed the revenues the district receives from the school funding formula for kindergarten.

Bonded indebtedness

Upon the approval of the electorate, the Board may incur a bonded indebtedness which does not exceed amounts specified by law.

The Board may authorize the issuance of debt to achieve the following goals and objectives:

1.   To provide capital improvements which satisfy the district's physical plant needs

2.   To provide the capability of financing district equipment needs

3.   To refinance existing debt when it is in the best interests of the district

To accomplish these goals the Board has developed the following guidelines for managing the district's debt.

1.      The superintendent and a designee shall be responsible for implementing this policy and its procedures.

2.      The superintendent and a designee shall serve as the district's liaison with the investment banking community and will keep the Board informed about investment banking activities, changes in laws which affect the issuance or debt, and any topics which bear on the district's financial activities and needs.

3.      When developing the district's financial plan, the superintendent shall analyze the need for financial advisory or investment banking assistance in defining the district's financial goals and objectives, establishing its financial plan and preparing for the issuance of debt or the refinancing of existing debt. Based on that analysis, the superintendent may recommend that the district secure the services of financial advisory and/or investment bankers.

4.      The type of financial advisory or investment banking services and the method of selecting the firm or firms to provide such services shall be determined by the Board.

5.      All investment banking firms or financial advisors employed by the district shall comply with the provisions and rules of the Municipal Securities Regulatory Board when performing services for the district.

6.      The superintendent and a designee shall recommend to the Board whether to use a competitive bid or negotiated sale method for each transaction.  All financing completed by the district shall be conducted in compliance with state and federal statutes and regulations.

Notice to public

At least 20 days prior to any election wherein the Board has submitted a ballot issue concerning the creation of any debt or other financial obligation, the district shall post on its web site and the administrative office a notice regarding financial information as specified in state law. This notice is in addition to other notices required by law.

LEGAL REFS:   Constitution of Colorado, Article X, Section 20

                        C.R.S. 1-1-101 through 1-13-108 et seq. (Uniform Election Code of 1992)

                        C.R.S. 1-7-908 (financial information district must post prior to any financial election)

                        C.R.S. 1-45-117 (Fair Campaign Practices Act)

                        C.R.S. 22-42-101 et seq. (bonded indebtedness)

                        C.R.S. 22-54-108

                        C.R.S. 22-54-108.5 (mill levy to fund full-day kindergarten)

CROSS REFS:  DBG, Budget Adoption  

                        EEA, Student Transportation

                        FD, Facilities Funding

                        FDA, Bond Campaigns

Adopted:  October 2005

Revised:  January 2011

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DFD  Gate Receipts and Admissions

Admission receipts for school events shall be adequately controlled. Building administrators shall be responsible for the administration and supervision of all school events for which admission is charged.

School Staff Member Pass

All district employees will be admitted free, to regular season home athletic events and activities. If a district employee works a specific home athletic event or school activity, that employee will be admitted free along with his/her spouse and children of school age or younger.

RE-2 Senior Citizen Pass

Senior citizens 62 years of age or older and a resident of Eaton School District RE-2 will be admitted free to home athletic events or school activities with the exception of local tournaments and post-season play, they must have an approved Eaton RE-2 Senior Citizen pass.

High School Student Pass

Students pay the full student price per event as set by the Board of Education.   High school students may buy yearly passes which entitle them to attend any home athletic event or school activity with the exception of local tournaments and post-season Play.

K-8 Student Pass

Students in grades K-8 pay the full student price per event as set by the Board of Education. K-8 students may buy yearly passes which entitle them to attend any home athletic event or school activity with the exception of local tournaments and post-season play,

Adult Pass

Adults (except for eligible Re-2 senior citizens) pay the full adult price per event as set by the Board of Education. Adults may buy yearly passes which entitle them to attend any home athletic event or school activity with the exception of local tournaments and post-season play.

Lifetime Pass

The Board of Education will honor all lifetime passes issued to date.  However, effective September 1, 1992, additional lifetime passes may be issued with the specific approval of the Board of Education.

 

Revised and adopted August 17, 1998

Adopted: July 19, 1977

Revised: August 1992

Revised: July 20, 1993

Adopted: August 4, 1999 (date of manual adoption)

 

 

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DFD-E  ADMISSION RATES

Following are the Admission Rates as set by the Eaton RE-2 Board of Education for school events:

High School Passes:

1.      Student pays full student price.  .

2.      Student yearly pass entitles the student to attend any home athletic event or school activity during the year with the exception of local tournaments and post-season play.

K-8 Student Passes:

1.      Student pays full student price. 

2.      Student yearly pass entitles the student to attend any home athletic event or school activity during the year with the exception of local tournaments and post-season play.

Adult Passes:

1.      Adult pays full adult price.

2.      Adult yearly pass entitles adult to attend any regular season I home athletic event or school activity during the year with the exception of local tournaments and post-season play.

Senior Citizen Passes

1.      Senior citizens 62 years of age or older pays full senior citizen price.

2.      A senior citizen pass for those eligible senior citizens entitles them to free admission to any regular season home athletic event or school actives during the year with the exception of local tournaments and post-season play.

 

 

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DG  Banking Services

(And Deposit of Funds)

All revenue received by the school district shall be deposited in an official bank or banks or savings and loan institutions as designated by the Board.  Such financial institution must qualify as an eligible public depository in accordance with state law.

When moneys are withdrawn from the custody of the county treasurer, such withdrawn moneys and all other moneys belonging to the district including moneys derived from food services and school activities shall be deposited by the treasurer of the Board or official custodian to the credit of the district in a depository designated by the Board.

The treasurer or official custodian shall comply with all requirements of state law regarding the deposit of district funds.

 

LEGAL REFS.:  C.R.S. 11-10.5-101 et seq. (relates to deposits of public funds in banks)

                        C.R.S. 11-47-101 et seq.  (relates to deposits of public funds in savings and loan institutions)

                        C.R.S. 22-32-104 (4)(c)

                        C.R.S. 22-32-107 (3),(4),(6)

                        C.R.S. 22-32-109 (1)(g)

                        C.R.S. 22-32-110 (1)(x)

                        C.R.S. 22-40-104  (relates to county treasurer)

                        C.R.S. 22-40-105

                        C.R.S. 22-45-104  (relates to collection and deposit of fees and fines)

 

Adopted: July 19, 1977

Revised 1990

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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DGA/DGB  Authorized Signatures/Check-Writing Services

All checks drawn on the general fund or any special fund (with the exception of the activity funds), shall require the written or facsimile signatures of the president, secretary and treasurer of the Board.

Checks drawn on elementary and middle school activity funds shall require the signatures of the school principal and the school secretary/or district designee.

Checks drawn on the high school activity fund shall require two of the following signatures:  District Office Manager, Business Services Assistant and Business Services Director.

All checks drawn on district funds may be signed by a machine provided by the Board.  The District Office Manager, Business Services Assistant and Business Services Director shall be authorized to operate the check-signing machine.

 

LEGAL REFS.:  C.R.S. 11-55-101 et seq.

                        C.R.S. 22-32-107

                        C.R.S. 22-32-121

 

Revised and Adopted 1/18/99

Revised 1990

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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DH  Bonded Employees and Officers

All school employees who are responsible for moneys controlled by the Board or who may have more than $50 from such funds in their custody shall be bonded under group fidelity bond in individual amounts of $10,000.

The secretary and treasurer of the Board and any custodian of moneys authorized and appointed by the Board shall, as required by Coloradostatute, be individually bonded.  This bond shall be in an amount not less than $10,000.

The cost of bonding shall be borne by the school district.

 

LEGAL REFS.:  C.R.S. 22-32-104 (4)(b),(c)

                        C.R.S. 22-32-109 (1)(h)

                        C.R.S. 22-32-121 (3)

 

Adopted July 19, 1977

Revised 1990

Revised:  April 1997

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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DI  Fiscal Accounting and Reporting

The superintendent shall be responsible for receiving and properly accounting for all funds of the district.

All funds received and/or disbursed by any agency of the school system including any and all district transactions shall be accounted for carefully and accurately; shall conform with generally accepted principles of governmental accounting providing for the appropriate separation of accounts, funds and special moneys, and shall be done in a manner that is easily reviewed and lends itself to auditing.

The Board shall receive monthly financial statements from the superintendent showing the financial condition of the district.  Such other financial statements as may be determined necessary by either the Board or the superintendent shall be presented as deemed desirable.

 

LEGAL REF.:    C.R.S. 22-45-102

Adopted July 19, 1977

Revised 1990

Revised:  April 1997

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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DID  Inventories

The school district shall maintain a system for an annual inventory of all real and personal property costing $500 or more or having a life expectancy of five years or more, with the exception of equipment permanently fixed in a building such as heaters or lockers.  Disposable supplies on hand also shall be included in the inventory.

The equipment inventory shall serve both the function of control and conservation.  A copy of the revised inventory shall be presented to the Board annually.

Responsibility for developing and administering the procedures for the spring and fall inventories shall lie with the superintendent to whom principals shall be accountable for the maintenance of proper inventories in their schools.

 

LEGAL REF.:C.R.S. 29-1-506 (1)

 

Adopted July 19, 1977

Revised 1990

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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DIE  Audits/Financial Monitoring

In accordance with state law, all funds and accounts of the district shall be audited annually, following the close of the fiscal year.

The Board shall appoint an independent auditor licensed to practice in Colorado and knowledgeable in government accounting to conduct the audit.  The independent auditor also shall audit the activities accounts of the district for report to the Board of Education.

The audit report shall contain among other information:

1.      Financial statements prepared insofar as possible in conformity with generally accepted governmental accounting principles.  (The financial statements are the representation of the district whether prepared by the district or by the auditor).

2.      Disclosures in accordance with the Financial Policies and Procedures Hand–book.  The supplemental schedules of receipts and expenditures for each fund shall be in the format prescribed by the State Board of Education and shall be in agreement with the audited financial statements of the district.

3.      All funds and activities of the school district.

4.      A budget to actual comparison for each fund and activity.

5.      The auditor's opinion on the financial statements.  If the opinion is anything other than unqualified, the reason must be explained.  The opinion shall include general fixed assets.

6.      Disclosure of all instances of noncompliance with state law, including the Public School Finance Act of 1994, irrespective of materiality.

7.      A supplemental listing of all investments held by the district at the date of the financial statement.

8.      A calculation of the school district’s fiscal year spending in accordance with the state constitution.

The auditor also shall make recommendations to the Board concerning its accounting records, procedures and related activities as may appear necessary or desirable and shall perform such other related services as may be requested by the Board.

The audit report must be completed and submitted by the auditor to the school district within five months after the close of the fiscal year unless a request for an extension of time is granted by the state auditor.  Within 30 days after receiving the audit, the district shall submit one copy each to the state auditor and the state commissioner of education.

The Board reserves the right to request an audit at more frequent intervals if desired.

 

LEGAL REFS. : C. R. S.  22-32-109 (1)(k)

                        C. R. S.  24-75-601. 3

                        C. R. S.  29-1-601 et seq.

 

Adopted July 19, 1977

Revised 1990

Revised:  April 1997

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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DJB  Purchasing Procedures

The superintendent and business manager shall serve as purchasing agents for the school district and shall establish procedures governing the purchase of materials, supplies, equipment and services.

All purchasing transactions shall be accomplished through the superintendent and business office and authorized on properly signed purchase orders.

 

CROSS REFS:  DJE, Bidding Procedures

                        EBAB, Hazardous Materials

 

Adopted 1990

Revised:  April 1997

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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DJC  Petty Cash Accounts

In order to facilitate recurring purchases not in excess of $100, a petty cash fund shall be established.  The director of business services shall be responsible for maintaining the petty cash account, and the account shall be replenished as necessary from the appropriate district school funds.  A petty cash fund shall be kept at each school building’s office.

 

Adopted July 19, 1977

Revised 1990

Revised:  April 1997

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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DJ/DJA  Purchasing/Purchasing Authority

The superintendent shall supervise all school purchasing and shall be authorized to purchase all materials, goods and supplies for the school system within the limits of the adopted budget.  The superintendent shall make all purchases in accordance with state law and generally accepted purchasing practices.  Purchases in excess of $10,000 and improvements to buildings and grounds not performed by district employees shall require sealed bids.

LEGAL REF.:C.R.S. 22-32-109 (1)(b)

 

Adopted July 19, 1977

Revised 1990

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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DJE  Bidding Procedures

All contractual services and purchases of supplies, materials and equipment in the amount of $10,000 or more shall be put to bid.  This shall not apply, however, to professional services or instructional materials.  Other purchases may be made in the open market but shall, when possible, be based on competitive quotations or prices.

All contracts and all open market orders shall be awarded to the lowest responsible qualified supplier, taking into consideration the quality of materials (services) desired and their contribution to program goals.

When bidding procedures are used, bids shall be advertised appropriately.  Suppliers shall be invited to have their names placed on mailing lists to receive invitations to bid.  When specifications are prepared, they shall be mailed to all merchants and firms who have indicated an interest in bidding.

All bids shall be submitted in sealed envelopes, addressed to the Board, and plainly marked with the bid number and the time of the bid opening.  Bids shall be opened in public by appropriate district officials or employees at the time specified, and all bidders shall be invited to be present.

The Board reserves the right to reject any or all bids and to accept that bid which appears to be in the best interest of the district.

The bidder to whom an award is made may be required to enter into a written contract with the district.

 

LEGAL REFS.:  C.R.S. 22-32-109 (1)(b)

                        C.R.S. 24-18-201

CROSS REFS.: BCB, Board Member Conflict of Interest

                        DJB, Purchasing Procedures

                        FEG, Construction Contracts Bidding and Awards

 

Adopted July 19, 1977

Revised October 21, 1980

Revised :  April 1997

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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DJF  Local Purchasing

Equipment and supplies shall be purchased from local vendors when such items are locally available at competitive prices (including both selling price and delivery costs), when acceptable delivery schedules can be guaranteed, and when acceptable maintenance service is available.  However no differential pricing preference shall be given to local vendors under conditions of competitive bidding.

 

LEGAL REFS.:  C.R.S. 22-32-109 (1)(b)

                        C.R.S. 24-18-201

CROSS REFS.: DJE, Bidding Procedures

 

Adopted July 19, 1977

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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DJG   Vendor Relations

No favoritism shall be extended to any vendor.  All employees of the district must exercise sound judgment in avoiding conflicts of interest or the appearance of impropriety in dealing with vendors.  Gifts or gratuities worth more than $25 value or which might obligate a district employee in any manner shall be politely and firmly refused.

Any vendor or bidder who offers items in excess or in violation of the spirit of this policy may be disqualified indefinitely.

No person officially connected with or employed in the public schools shall be an agent or be in any way monetarily or beneficially interested in or receive any compensation or reward of any kind from any vendor for the sale of supplies, material, equipment or services to the district without the express prior written consent of the Board of Education.

 

LEGAL REF.:    C.R.S. 24-18-104

CROSS REFS.: BC, Board Member Conduct

                        GBEB, Staff Conduct

                        GBEBC, Gifts to and Solicitations by Staff

 

Adopted July 19, 1977

Revised 1990

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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DJGA  Sales Calls and Demonstrations

Sales representatives shall not be permitted to contact school employees for the purpose of making sales or demonstrating products except by special permission of the appropriate administrator.

Principals may grant permission for representatives selling educational products or services to see school employees at times which do not interfere with the school program.

 

Adopted:  July 19, 1977

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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DKA  Payroll Procedures/Schedules

District office staff shall pay athletic referees and workers on a periodic basis with a report of such payments to be presented to the Board at its regular meetings.

All district personnel shall receive pay checks on the last working day of the calendar month except during May when district personnel shall receive pay checks on the last business day of the calendar month.

 

Adopted:  October 14, 1970

Revised 1990

Revised:  April 1997

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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DKB  Salary Deductions

Deductions shall be made from the paychecks of all employees for retirement and federal and state income tax in keeping with federal and state requirements and Medicare tax if applicable.

Salary deductions shall be made for absences not covered by leave policies adopted by the Board of Education.  Such deductions shall be calculated on the basis of the employee's work year.

All other types of deductions shall require Board approval and permission of the employee.

 

Originally adopted July 19, 1977

Last revision date:  February 26, 1996

Revised:  April 1997

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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DKC  Expense Authorization/Reimbursement

The same general policy shall apply to all personnel and district officials in regard to reimbursement of expenses.  This policy shall be as follows:

1.      Personnel and officials who incur expenses in carrying out their authorized duties shall be reimbursed by the district upon submission of a properly filled out and approved voucher and such supporting receipts as required by the administrator responsible for business affairs.

2.      Such expenses shall be approved and incurred in line with budgetary allocations for the specific type of expenses.

3.      When official travel by personally owned vehicle has been authorized, mileage payment shall be made at the rate currently approved by the Board.

 

LEGAL REF:     C. R. S.  24-18-104 (3)(d),(e)

 

Adopted 1990

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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DM  Cash in School Buildings

The school administration shall avoid requiring teachers to collect or handle funds whenever possible.  Teachers who collect money in classrooms should promptly deposit such moneys in the appropriate school office.  Neither the district nor any administrator shall assume responsibility for moneys not deposited in school offices.  Receipts shall be issued for all deposits.

 

Adopted July 19, 1977

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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DN  School Properties Disposal

The Board has the authority to sell, lease or dispose of any district property which may not be needed in the foreseeable future upon such terms and conditions as it may approve.

If the property is sold to a state agency or political subdivision of the state, it shall not be necessary to find that the property may not be needed.

 

LEGAL REFS.:  C.R.S. 22-32-110 (1)(e)

C.R.S. 24-18-202

 

Adopted July 19, 1977

Revised 1990

Adopted:  August 4, 1999 (date of manual adoption)

 

 

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