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701.1 Depository of Funds


Each year at its annual meeting, the Board shall 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 shall 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 shall be the responsibility of the board secretary to include the resolution in the minutes of the meeting.

The Board authorizes the use of facsimile signatures in the conduct of school business.


Legal Reference:         Iowa Code §§ 12C; 279.33 (1995).


Cross Reference:        210.1  Annual Meeting

                                  206.4  Treasurer

                                  704.1  Local - State - Federal - Miscellaneous Revenue


Approved:    6/9/97                   Reviewed:      11/06                 Revised:           10/00