CODE E3

FINANCIAL REPORTS AND STATEMENTS

Policy
It is the policy of the _____________School District to create financial reports and statements in accordance with generally accepted accounting practices that will allow the administration to demonstrate accountability while providing the Board with needed information.

Administrative Responsibilities
The Superintendent (business manager, treasurer) shall be responsible for submitting financial reports for all funds to the Board.

The treasurer's report shall be made monthly and include:

1. Cash on hand at the beginning of the month
   
2. Receipts by service
   
3. Disbursements during the month
   
4. Cash balance on hand at the end of the month
   
5. Reconciliation with bank statements

The financial report will be made monthly and include:

1. Appropriation Accounts
   • Original appropriation
   Authorized transfers and adjustments
   • Revised appropriations
   • Expenditures to date
   • Outstanding encumbrances
   • Unencumbered balance
2. Revenue Accounts
   • Estimated revenues
   • Amounts received to date
   • Revenues estimated to be received during the balance of the fiscal year

   
   
   
   
   
   
   

   Date Warned:
   Date Adopted:
   Legal Reference(s):	16 V.S.A. §563 (Powers of school boards)
   Cross Reference:	Fiscal Management and Financial Accountability (E1)
   	Budgeting (E2)