When moneys are received from the county treasurer, the State of Colorado, or other funding sources, such moneys and all other moneys belonging to the District, including moneys derived from food services and school activities shall be deposited by the Board Treasurer, or Board designated official custodian to the credit of the District in a eligible depository designated by the Board.
The Board Treasurer or Board designated official custodian shall comply with all requirements of state law regarding the deposit of District funds.
All checks drawn on the general fund or any special fund shall bear the written or facsimile signature of the Board Treasurer or Board designated official custodian. For electronic payments, the Office of Fiscal Services shall develop internal controls to ensure proper issuance of such payments.
Revenues from a tax levy for the purposes of satisfying bond indebtedness obligations shall be administered by a commercial bank or depository trust company located in Colorado or placed in an escrow account in accordance with the requirements set forth in state law. All fund derived from tax levy revenues to satisfy bond indebtedness shall be maintained in a separate account.
No District school shall maintain a separate bank account without approval of the Chief Financial Officer for the District.
The District shall not serve as custodian of funds for any outside parties, such as vendors, without Board approval.
Originally Adopted: date of manual adoption (July 13, 1992)
Current Revision: November 11, 2024
Last Revised: November 11, 2024
| Cross References: | DFAA – Use of Surplus Funds (Investments) |
| Legal References: | C.R.S. § 11 10.5 101 et seq. (Public Deposit Protection Act) |
| C.R.S. § 22 32 104(4)(c) (board may appoint custodian of moneys) | |
| C.R.S. § 22 32 107 (board treasurer duties) | |
| C.R.S. § 22 32 109(1)(g) (board duty to require deposit of monies) | |
| C.R.S. § 22 32 110(1)(x) (withdrawing district funds from county treasurer) | |
| C.R.S. § 22 40 104 (county treasurer duties) | |
| C.R.S. § 22 40 105 (depositories designated by board) | |
| C.R.S. § 22-45-103(1)(b) (bond redemption fund trustee or escrow requirement) | |
| C.R.S. § 22 45 104 (collection and deposit of fees and fines) | |