DI-FISCAL ACCOUNTING AND REPORTING

File: DI

FISCAL ACCOUNTING AND REPORTING

The RSU #11 Superintendent shall be ultimately responsible for properly accounting for all funds of the school unit.

The accounting used shall be in accordance with requirements of the Maine Department of Education and with good accounting practices, providing for the appropriate separation of accounts, funds, and special moneys.

The Finance Committee of the RSU #11 Board shall receive quarterly financial statements from the Superintendent showing the financial condition of the school system.

It shall be the duty of the Superintendent/designee to:

A. Direct and supervise the preparation of quarterly and annual reports to the Superintendent and the Board;

B. Provide the RSU #11 Board with other reports related to Unit finances as requested by the Board or as developed by the Superintendent for the Board’s information;

C. Advise Principals and other administrators periodically of expenditures related to budget appropriations; and

D. Prepare financial reports required by the Maine Department of Education or other agencies with jurisdiction.

Legal Reference: 20-A MRSA § 1055

Adopted: November 5, 1959

Revised: June 5, 1986; January 7, 1993; December 6, 2005; May 6, 2010