A board treasurer may be appointed from employees, other than a position requiring a teaching certificate, or from the public. To finalize the appointment, the board treasurer will take the oath of office during the meeting at which the individual was appointed or no later than ten days thereafter.
It shall be the responsibility of the treasurer to oversee the investment portfolio, to receive funds of the school district, to pay out the funds for expenses approved by the Board, to maintain accurate accounting records for each fund, to report monthly regarding the investment portfolio and the status of each fund and to file required reports with the appropriate state agencies and other entities. It shall also be the responsibility of the treasurer to work with the secretary to coordinate the financial records, the financial reports, the cash flow needs, and the investment portfolio of the school district.
In the event the board treasurer is unable to fulfill the responsibilities set out by the board and the law, the Superintendent will assume those duties until the board treasurer is able to resume the responsibility or a new board treasurer is appointed. The board treasurer will give bond or be covered by an insurance policy in an amount set by the board. The coast of the bond or insurance policy will be paid by the school district.
The treasurer shall give bond in an amount set by the Board. The cost of the bond will be paid by the school district.
Legal Reference: Iowa Code 12B.10; 12C; 279.3, .31-.33; 291.2-.4, .8, .11, .12-.14
281 I.A.C. 12.3(1)
1978 Op. Att'y Gen. 328
Cross Reference: 202.2 Oath of Office
206.3 Secretary
210.1 Annual Meeting
215 Board of Directors' Records
704.3 Investments
707 Fiscal Reports
Approved: 07/18/95
Reviewed: 12/11/03;11/9/11; 10/14/15; 10/14/20
Revised: 10/09/03; 7/13/06; 7/11/24