It is the responsibility of the board to annually appoint a treasurer. The board may annually appoint a treasurer from its employees, other than a position requiring a teaching certificate. To finalize the appointment, the treasurer shall take the oath of office at the meeting or no later than ten days thereafter.
It is the responsibility of the treasurer to oversee the investment portfolio, to receive funds of the school district, to pay out the funds for expenses approved by the board, to maintain accurate accounting records for each fund, to report monthly regarding the investment portfolio and the status of each fund and to file required reports with the appropriate state agencies and other entities.
If the treasurer is unable or unwilling to carry out the duties required, it shall be the responsibility of the board secretary to carry out the duties of the treasurer.
The treasurer shall give bond in an amount set by the board. The cost of the bond will be paid by the school district.
Legal Reference: Iowa Code §§ 12B.10; 12C; 279.3, .31-.33; 291.2-.4, .8, .11-.14
281 I.A.C. 12.3(1).
1978 Op. Att'y Gen. 328.
Cross Reference: 202.2 Oath of Office
206.3 Secretary
210.1 Annual Meeting
215 Board of Directors' Records
704.3 Investments
707 Fiscal Reports
Approved 10/26/70 Reviewed 10/18/23 Revised 9/18/24
