Management of District Bank Accounts - 7416

Mukilteo School District
Financial Management - Series 7000
Management of District Bank Accounts - 7416

The Superintendent will appoint a staff member to serve as custodian for each bank account in the District.

The District will maintain a system of bank accounts as follows:

  1. A District depository and/or transmittal bank account
  2. ACH electronic transfer account
  3. Imprest bank accounts for the purchase of minor items and to pay for certain expenses of programs and schools when purchase orders or procurement cards are not accepted or feasible to use; and
  4. Petty cash accounts as necessary to meet the petty cash needs of the schools and departments of the District.

The Board authorizes the establishment of the above accounts subject to the regulations and limitations set by the Superintendent's procedures regarding the operations of the funds.


Legal References:

RCW 28A.325.020 Associated student bodies--Powers and responsibilities affecting
WAC 392-138 Finance--Associated Student Body Moneys
State Auditor Bulletin #301, III (E)--Petty Cash. Bull. #007, (10/8/84)

 

Adoption Date: January 12, 1998
Revised: August 27, 2007