DI - Fiscal Accounting and Reporting

FISCAL ACCOUNTING AND REPORTING

The Superintendent/Principal shall be ultimately responsible for properly accounting for

all funds of the school unit.

The accounting used shall be in accordance with the requirements of the Maine

Department of Education and with government accounting practices, providing for the appropriate separation of accounts, funds, and special moneys.

The School Committee shall receive monthly financial statements from the

Superintendent/Principal showing the financial condition of the school system.

It shall be the duty of the Finance Director for the preparation of monthly and annual reports to the Superintendent/Principal and the School Committee; to advise administrators periodically of expenditures related to budget appropriations; and to prepare financial reports required by the Maine Department of Education or other agencies with jurisdiction.

Legal Reference: Title 20-A: Education Part 2: School Organization, Chapter 101 General Provisions Subchapter 2 Superintendents §1055 Superintendent; powers and duties

Adopted:   February 12, 2002

Reviewed:   December 8, 2022