DFE                Investment of Funds                                                                                          DFE

 

The investment of school district monies shall be the responsibility of the superintendent.

 

Any monies, not immediately required for the purposes for which the monies were collected or received and the investment of which is not subject to or regulated by contrary state or federal laws or regulations, may be invested to:

 

Time deposits; open accounts or certificates of deposit in any or all commercial banks within the limits of the district;

 

United States treasury bills or notes maturing in six months or less, if eligible institutions listed above cannot or will not make the investments authorized at an interest rate equal to or greater than the realized yield on 91-day treasury bills.

 

                        Posting Securities

 

All investments of district monies or any monies of its schools shall be 100% secured with pledged securities.

Amended 7-1--94

 

DFE-R            Investment of Funds                                                                                      DFE-R

 

Distribution of monies for investment shall be as follows:

 

The treasurer or other person designated by the board shall inform each eligible bank of the total amount of money to be invested on a specified date and shall accept from each bank a single bid of the rate of interest it would pay on all or part of the funds to be invested.

 

Monies shall be invested with the highest bidder in such amount as the bidder will accept, and any remaining amounts shall be invested with the next highest bidders in order of interest rate offered. No bidder shall be eligible to receive any funds in the same offering at a rate lower than its single bid.

 

No bid less than the most recently determined 91-day treasury bill rate shall be accepted.

 

Any monies not otherwise invested shall be used to purchase United States treasury bills or notes.

 

DFG                Fees, Payments and Rentals (Cf. KG)                                                               DFG

 

Proceeds from fees for building or equipment use or rental will be credited to the general fund.

 

DFG-R            Fees Payments and Rentals                                                                           DFG-R

 

                        Textbook Rental Fees

 

Annually, the board shall approve fees to cover the rental of textbooks and other appropriate classroom fees. The following procedures for collecting enrollment and textbook fees will be as follows:

 

1. At the time of enrollment, three options are available to parents/guardians regarding the payment of student fees:

a.   Payment of fees in full.

b.   Establish a written payment plan for student fees with the building principal's approval.

c.   Establish a legal affidavit of indigence.

 

2. If the parent or guardian chooses the second alternative of payment by a plan approved by the principal, the first payment on the fee schedule must be made within 30 days after enrollment. All fees under approved plan must be paid in full by January 30th.

 

3. In the event the payment schedule is not maintained, the delinquent party's collection will be referred to the Business Office with the following steps of action to be followed:

a.   The Business Office bill for fees with payment due within 60 days.

b.   If payment of fees is not made before April 1st, the matter will be turned over to the board attorney.

 

Parents and guardians without financial resources with which to satisfy fees and charges (even on an installment plan) may file an affidavit of indigence (poverty). Persons signing the indigence affidavit will be required to state their average monthly income. Unlawful signing of the affidavit will constitute willful attempt to defraud a non-profit organization.