System of Funds and Accounts
The district will maintain a system of funds with the county treasurer in accordance with state law and the accounting manual approved by the State Superintendent of Public Instruction. The funds are:
The General Fund (GF) is financed primarily from local taxes, state support funds, federal grants, and local receipts. The GF is managed in accordance with special regulations, restrictions and limitations and constitutes an independent fiscal and accounting entity.
Capital Projects Fund
The Capital Projects Fund (CPF) contains the proceeds from the sale of voted bonds (unlimited tax general obligation bonds) and non-voted bonds (limited general obligation bonds), state of Washington financing assistance (state matching money), transfers from the district’s basic education allotment, the proceeds of special levies earmarked for building purposes, earnings from capital projects fund investments, growth management impact fees, state environmental protection act mitigation payments, rental or lease proceeds and proceeds from the sale of property.
Debt Service Fund
The Debt Service Fund (DSF) is for the payment of principal of and interest on outstanding voted and non-voted bonds. Disbursements are made by the county treasurer by means of treasurer’s checks. Provision will be made annually for the making of a levy sufficient to meet the annual payments of principal and semiannual payments of interest.
Associated Student Body Program Fund
The board is responsible for the protection and control of student body financial resources just as it is for other public funds placed in its custody. The financial resources of the Associated Student Body Program Fund (ASB Fund) are for the benefit of students. Student involvement in the decision-making processes related to the use of this money is an integral part of the associated student body, except that the board may delegate the authority to a staff member to act as the associated student body for any school which contains no grade higher than grade six.
Transportation Vehicle Fund
The transportation vehicle fund (TVF) includes the proceeds from the sale of transportation vehicles; lease, rental, non-voted bonds, or occasional use of surplus buses; depreciation reimbursement for district-owned buses; proceeds of TVF levies; optional transfers from the GF; and investment funds coming from the TVF. The TVF may be used to purchase and/or rebuild buses on a contract or cash basis.
|Cross Reference:||Board Policy 3510||Associated Student Bodies|
|Board Policy 6030||Financial Reports|
|Legal References:||Wash.Const., Article VII, § 2||Voted bond proceeds and capital levy proceeds — Uses|
|RCW 28A.320.320||Investment of funds of district—Service fee|
|28A.320.330||School funds enumerated — Deposits — Uses|
|28A.325.010||Fees for optional noncredit extra curricular events — Disposition|
|28A.325.020||Associated student bodies — Powers and responsibilities affecting|
|28A.325.030||Associated student body program fund — Fund — raising activities — Nonassociated student body program fund moneys|
|28A.335.060||Surplus school property — Rental, lease or use of — disposition of moneys received from|
|28A.505.140||Rules and regulations for budgetary procedures —Review by superintendent — Notice of irregularity — Budget revisions|
|28A.530.010||Directors may borrow money, issue bonds|
|28A.530.020||Bond issuance — Election — Resolution to specify purposes|
|28A.530.080||Additional authority to contract indebtedness--Notice|
|42.17.130||Use of public office or agency facilities in campaigns — Prohibition — Exceptions (as of January 2012 recodified at 42.17A.555)|
|43.09.200||Local Government Accounting — Uniform system of accounting|
|43.09.210||Local Government Accounting Separate accounts for each fund or activity — Exemption for agency surplus personal property|
|84.52.053||Levies by school districts authorized — When — Procedure|
|84.52.056||Excess levies for capital purposes authorized|
|WAC 392-123||Finance — School District Budgeting|
|WAC 392-138||Finance — ASB Moneys|
|State Auditor Bulletin #301, III(E), Petty Cash|
Adoption Date: 11.18.02
Former Policy Number: 7203
Clover Park School District