4001 - Deposits
The board shall designate a depository or depositories for all educational service unit funds. All funds received by the educational service unit shall be deposited promptly in the proper account of each such depository. All funds shall be insured by the Federal Deposit Insurance Corporation or a surety bond approved by the board on securities of the United States government pledged by joint custody receipt.
Funds collected by educational service unit employees shall be handled with prudent business procedures. All funds collected shall be receipted and accounted for and directed without delay to the proper depository.
Adopted on: October 13, 2008
Revised on: ______________
Reviewed on: October 10, 2011