Depository of Funds

Code No.: 802.3
DEPOSITORY OF FUNDS
Each year at its annual meeting, the board will designate by resolution the name and location of the
Iowa located financial depository institution or institutions to serve as the official school district
depository or depositories. The maximum deposit amount to be kept in the depository will be stated in
the resolution. The amount stated in the resolution must be for all depositories and include all of the
school district’s funds.
It is the responsibility of the board secretary to include the resolution in the minutes of the meeting.
Approved
Reviewed 1/17/00
Reviewed 12/19/05
Revised 6/20/11
Revised 4/18/16