• 701.1


    Code No. 701.1

    DEPOSITORY OF FUNDS

    Each year at its annual meeting, the board willdesignate 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 isthe responsibility of the board secretary to include the resolution in the minutes of the meeting.

    Legal Reference:                        Iowa Code §§ 12C; 279.33 (2009).

    Cross Reference:                        210.1 Annual Meeting

                                                  206.4 Treasurer

                                                  704.1 Local - State - Federal - Miscellaneous Revenue

    Approved: 05/23/2007

    Reviewed: 01/18/2007, 08/25/2011, 08/18/2016

    Revised: