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Two elected school board members take oath of office

Dr. Traci Pierce, Superintendent, swore in two elected school board members on Dec. 4. Mark Stuart is starting his second term. Cassandra Sage is beginning her first term, replacing retired board member Nancy Bernard.

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Financial Administration

Policy type: Executive Limitations
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:

    1. 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.
    2. Settle payroll and debts in a timely manner.
    3. Ensure that purchases are made:
      1. Exercising reasonable precaution against conflict of interest;
      2. Considering comparative prices based on items of similar quality;
      3. Considering a balance between long-term quality and cost; and
      4. Using competitive procurement procedure as required by law.
    4. Ensure reports or filings required by any state or federal agency are timely and accurately filed.
    5. Aggressively pursue receivables after a reasonable grace period.
    6. Invest funds in securities that are authorized by law.
    7. Receive Board authorization before issuance of any debt.
    8. Receive Board authorization before expending any funds from the fund balance reserve.
    9. Receive Board authorization as allowed by law before permanently transferring unencumbered moneys from one fund to another.
    10. Ensure funds are received, processed, and disbursed under controls that are sufficient under generally accepted accounting procedures.
    11. Keep complete and accurate financial records by funds and accounts in accordance with generally recognized principles of governmental accounting.
    12. Publish and post a financial condition statement annually.

Adopted:
07/07/03

Revised:
06/27/05
09/27/10
11/19/12

Monitoring Method: Internal Report
Monitoring Frequency: Annually

Lake Washington School District Board of Directors

LWSD Superintendent reading to a group of students

Governance Process

Board CEO Relationship

District superintendent and two board members during board meetingThese policies describe the delegation of authority by the Board to its CEO and clarify the relationship between the two. Organizational performance is considered identical to CEO performance.

Executive Limitations

Superintendent reads to a group of elementary school studentsThese policies state the limitations imposed by the Board on the strategies and methods the superintendent and his or her staff may use, as they work to achieve the specified outcomes identified in the Ends Policies. The executive limitations establish the boundaries and operating expectations for staff.

End Results

Juanita High School graduates after their graduation ceremonyThese policies define the end results desired for our students and what they are expected to know and be able to do as a result of their educational experience. Ends Results policies are based on the Lake Washington School District Mission, Vision, Student Profile and Guiding Principles.