Middle school students compete in the fifth annual culinary competition.
Policy code: EL-11
With respect to the actual, ongoing administration of the district’s financial assets, the CEO shall ensure no material deviation from the annual budget or budget policy adopted by the Board, nor cause or allow any fiscal condition that is inconsistent with achieving the Board’s End Results, or places the long-term financial health of the district in jeopardy.
Accordingly, the CEO shall:
- Expend less funds than have been received in the fiscal year unless revenues are made available through other legal means, including the use of fund balances, the authorized transfer of funds from reserve funds, and tax anticipation notes.
- Settle payroll and debts in a timely manner.
- Ensure that purchases are made:
- Exercising reasonable precaution against conflict of interest;
- Considering comparative prices based on items of similar quality;
- Considering a balance between long-term quality and cost; and
- Using competitive procurement procedure as required by law.
- Ensure reports or filings required by any state or federal agency are timely and accurately filed.
- Aggressively pursue receivables after a reasonable grace period.
- Invest funds in securities that are authorized by law.
- Receive Board authorization before issuance of any debt.
- Receive Board authorization before expending any funds from the fund balance reserve.
- Receive Board authorization as allowed by law before permanently transferring unencumbered moneys from one fund to another.
- Ensure funds are received, processed, and disbursed under controls that are sufficient under generally accepted accounting procedures.
- Keep complete and accurate financial records by funds and accounts in accordance with generally recognized principles of governmental accounting.
- Publish and post a financial condition statement annually.
Monitoring Method: Internal Report
Monitoring Frequency: Annually
Lake Washington School District Board of Directors