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Vista USD |  BP  3314.2  Business and Noninstructional Operations

Revolving Funds   

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District Revolving Fund

The Board of Trustees has established by resolution a revolving cash fund for use by the Chief Business Officer or designee in paying for goods, services and other charges determined by the Board, including supplemental payments required to correct any payroll errors. (Education Code 42800-42806, 45167)

At the request of the Board, County Auditor or County Superintendent of Schools, the Chief Business Officer or designee shall give an account of the fund. (Education Code 42804)

The funds shall be deposited in a bank doing business locally, whose deposits are insured by FDIC. The Chief Business Officer or designee shall be responsible for all payments into the account as well as expenditures from the account subject to the restrictions established by the Board.

The Board shall review and revise fund usage as appropriate.

Legal Reference:

EDUCATION CODE

35160 Authority of governing boards

35250 Duty to keep certain records

38091 Cafeteria revolving accounts

41020 Audits of all district funds

41021 Requirement for employee's indemnity bond

41365-41367 Charter school revolving loan fund

42238 Revenue limits

42238.01-42238.07 Local control funding formula

42630-42652 Orders, requisitions, and warrants

42800-42806 Revolving cash fund

42810 Revolving cash funds; use; administrators

42820-42821 Prepayment revolving cash fund

45167 Error in salary

Management Resources:

WEB SITES

California Department of Education, Finance and Grants: http://www.cde.ca.gov/fg

Fiscal Crisis and Management Assistance Team: http://www.fcmat.org

Policy VISTA UNIFIED SCHOOL DISTRICT

adopted: September 9, 2010 Vista, California