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DI - Fiscal Accounting and Reporting

Policy DI

Adopted: October 2, 2014
Amended: January 18, 2024

The Superintendent will be ultimately responsible for receiving and properly accounting for all funds of the school district.  

The accounting system used will conform with state requirements and with good accounting practices, providing for the appropriate separation of accounts, funds, and special monies.

The School Committee will receive regular financial reports from the Superintendent or Assistant Superintendent of Finance and Operations showing the financial condition of the school department as well as outlining all relevant financial activity.  The report shall be provided no less frequently than quarterly.  Each review will be a part of a regular School Committee meeting agenda and the public will have an opportunity to ask questions as part of the Public Comment portion of the meeting. The final report will include any expenditures of end of year balances approved by the School Committee and any such other financial statements as may be determined necessary by the School Committee.  This will include reference to the annual audits and reporting of such results at a public meeting.

Legal References:
603 CMR 10:00
Adapted References:
MASC Model Policies

School Committee Policies