Policy 3121 – Financial Accounting

The Chief Financial Officer shall be responsible for maintaining accurate and current financial accounts for the ÁùºÏ²Ê½á¹û½ñÆÚ and making necessary changes to those accounts.  The accounts shall be maintained to meet the needs of the ÁùºÏ²Ê½á¹û½ñÆÚ.  In addition to providing financial information for the ÁùºÏ²Ê½á¹û½ñÆÚ, the accounts will also provide necessary information for state and federal reports and for budgeting purposes.

ÁùºÏ²Ê½á¹û½ñÆÚ accounts shall be maintained in such a way as to meet all the requirements of the Department of Public Instruction and give assurance to the School Board and its constituents that funds are being accounted for and administered in a proper manner.  The accounts will show the appropriated budgetary amount, actual revenues, actual expenditures, encumbrances and the account fund balances.

Monthly reports of the financial condition of the ÁùºÏ²Ê½á¹û½ñÆÚ and status of the expenditure of funds shall be provided to the Board by the Superintendent of Schools. Changes that have an impact across function levels will not be made once the Board has received final statements for that reporting period.

LEGAL REF.:

  • Wisconsin Statutes
    • Sections 115.28(13) [Uniform financial fund accounting]
    • 115.30(1)   [Uniform recording of accounts]
    • 120.18       [Annual school district report]
    • 121.05       [Budget and membership report]

CROSS REF.:

  • 3110   Annual Operating Budget
  • 3112   Budget Administration
  • 3122   Accounts Receivable/Uncollectible Accounts
  • 3124   Annual Financial Audit
  • 3240   Investments
  • 3430   Payments for Supplies, Equipment and Services
  • 3440   Fixed Charges
  • 3800   ÁùºÏ²Ê½á¹û½ñÆÚ Asset Management
  • WUFAR Accounting Handbook

ADMINISTRATIVE REGULATIONS: None

AFFIRMED:    March 26, 1991

REVISED:

  • October 28, 2003
  • December 18, 2007
  • September 25, 2012
  • December 17, 2013

Rule 3121 – Financial Accounting

The Chief Financial Officer shall be responsible for providing the School Board, and staff with access to monthly financial reports.  The financial reports will show the appropriated amount for each ÁùºÏ²Ê½á¹û½ñÆÚ financial account, the expenditure to date, encumbrances and the account balance.  These reports will be prepared as soon after the close of the month as possible.