8510

DAILY DEPOSITS

8510

Except as otherwise provided by law, all moneys 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 moneys shall deposit his/her collections and receipts daily. Deposits shall be required only when moneys on hand amount to as much as two hundred fifty dollars($250.00), but in any event a deposit shall be made on the last business day of the month. All deposits shall be made with the finance officer or in an official depository. Deposits in an official depository shall be reported immediately to the finance officer or individual school treasurer by means of a duplicate deposit ticket. The finance officer may, at any time, audit the accounts of any officer, employee, or agent collecting or receiving any taxes or other moneys, 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: January 10, 1977

Revised: February 18, 1997