Section D - Fiscal Management

  • Section Policy Code Policy Name Rules and Procedures Summary View Policy
    D DA Fiscal Management Goals As trustee of local, state, and federal funds allocated for use in public education, the Committee will fulfill its responsibility to see that these funds are used wisely for achievement of the purposes to which they are allocated.
    D DB Annual Budget
    D DBA Annual Budget As trustee of local, state, and federal funds allocated for use in public education, the School Committee will be vigilant in fulfilling its responsibility to see that these funds are used wisely for achievement of the purposes to which they are allocated
    D DBC Budget Planning and Preparation DBC-R Budget planning will be guided by the district's goals and budget directives as set by the School Committee in collaboration with the Superintendent.
    D DBG Final Adoption of the Budget The School Committee will adopt a proposed budget, and a proposed appropriation resolution for the upcoming fiscal year after the public hearing and prior to the annual town meeting.
    D DBI Monitoring the Budget The School Committee will keep abreast of the system's financial status
    D DBJ Budget Transfers The School Committee will consider requests for transfers of funds as they are recommended by the Superintendent.
    D DD Funding Proposals and Applications The School Committee will encourage the administration to seek and secure all possible sources of state, federal, and other special funds that will enhance the educational opportunities
    D DDA Gifts and Grants Policy In accordance with Massachusetts General Laws, chapter 71 �37A, the Nantucket School Committee may accept gifts and grants for educational purposes
    D DGA Authorized Signatures The designated member of the School Committee and the Superintendent or designee will sign payrolls presented for approval.
    D DH Bonded Employees and Officers Each employee of the school system who is assigned the responsibility of receiving and dispensing school funds will be bonded individually or covered by a blanket bond. The town will pay the cost of the bond.
    D DI Financial Reporting The Superintendent and/or his/her designee shall keep the School Committee informed, and where appropriate, give the School Committee the opportunity to review and approve the management of the budget in accordance with the guidelines
    D DIE Audits An audit of the school department's accounts should be conducted annually.
    D DIF Monies in School Buildings Monies collected by school district employees and by student treasurers shall be handled with good and prudent business procedures.
    D DJ Purchasing The School Committee declares its intention to purchase competitively without prejudice and to seek maximum educational value for every dollar expended.
    D DJA Purchasing Authority Authority for the purchase of materials, equipment, supplies, and services is extended to the Superintendent through the detailed listing of such items compiled as part of the budget making process.
    D DJE Bidding Requirements All purchases of materials and equipment and all contracts for construction or maintenance in amounts exceeding $25,000 will be based upon competitive bidding.
    D DK Payment Procedures All claims for payment from school department funds will be processed in accordance with regulations developed by the Superintendent.
    D DKC Expense Authorization/Reimbursements DKC-R Staff who incur pre-approved expenses in carrying out their authorized duties will be reimbursed by the school department upon submission of a properly completed and approved voucher and any supporting itemized receipts required by the Superintendent.
    D DNB Sales and Disposal of Obsolete Books, Equipment and Supplies All sales of obsolete or surplus equipment and supplies shall be done in accordance with procedures provided by the Town of Nantucket.