Code No. 706.1 District Records

School district records are housed in the central administration office of the school district.  It is the responsibility of the superintendent to oversee the maintenance and accuracy of the records.  The following records are kept and preserved according to the schedule below:

  • Secretary’s financial records                                                             Permanently
  • Treasurer’s financial records                                                             Permanently
  • Minutes of the Board of Directors                                                      Permanently
  • Annual audit reports                                                                           Permanently
  • Annual budget                                                                                    Permanently
  • Permanent record of individual pupil                                                  Permanently
  • Records of payment of judgments against the school district            20 years
  • Bonds and bond coupons                                                                  11 years
  • Written contracts                                                                                10 years
  • Cancelled warrants, check stubs, bank statements, bills, invoices,    5 years

and related records                                                                 

  • Recordings of closed meetings                                                           1 year
  • Program grants                                                                                   As per the grant
  • Nonpayroll personnel records                                                             7 years
  • Payroll records                                                                                    3 years

 

Employees’ records shall be housed in the central administration office of the school district.  The employees’ records are maintained by the superintendent, the building administrator, the employee’s immediate supervisor, and the board secretary.

An inventory of the furniture, equipment, and other non-consumable items other than real property of the school district are conducted annually under the supervision of the superintendent.  This report is filed with the board secretary. A perpetual inventory is maintained on consumable property of the school district.

The permanent and cumulative records of students currently enrolled in the school district are housed in the central administration office of the attendance center where the student attends.  Permanent records must be housed in a fireproof vault.  The building administrator is responsible for keeping these records current.  Records of students who have graduated or are no longer enrolled in the school district shall be housed in the high school vault.  These records will be maintained by the superintendent.

The superintendent or designee may electronically duplicate school district records and may destroy paper copies of the records if they are more than three years old.  A properly authenticated reproduction of an electronically duplicated record meets the same legal requirements as the original record.

 

Approved:       January 18, 1999

Revised/Reviewed: November 25, 2019

Code No. 706.1R1 Financial Records

Financial records of the district shall be maintained in accordance with generally accepted accounting principles (GAAP) as required or modified by law. District monies shall be received and expended from the appropriate fund and/or account. The funds and accounts of the district may include, but will not be limited to, the following:

Governmental fund type:

  1. General fund
  2. Special revenue fund
    1. Management levy fund
    2. Public education and recreation levy fund
    3. Student activity fund
  3. Capital projects fund
    1. Physical plant and equipment levy fund
  4. Debt service fund
  5. State penny sales tax fund

Proprietary fund type:

  1. Enterprise fund
    1. School nutrition fund
    2. Child care fund
  2. Internal service fund

Fiduciary funds:

  1. Trust or agency funds
    1. Expendable trust funds
    2. Nonexpendable trust funds
    3. Agency funds
    4. Pension trust funds

Account groups:

  • General fixed assets account group
  • General long-term debt account group

As necessary the board may, by board resolution, create additional funds within the governmental, proprietary and fiduciary fund types. The resolution shall state the type of fund, name of the fund, and purpose of the fund.

The general fund is used primarily for the education program. Special revenue funds are used to account for monies restricted to a specific use by law. Proprietary funds account for operations of the school district operated similarly to private business, and they account for the costs of providing goods and services provided by one department to other departments on a cost reimbursement basis. Fiduciary funds are used to account for monies or assets held by the district on behalf of, or in trust for, another entity. The account groups are the accounting records for fixed assets and long-term debt.

 

Approved:  September 29, 2015

Revised/Reviewed: November 25, 2019