A local board of education, to ensure the sound fiscal management of board finances, upon the recommendation of the local superintendent of education, shall adopt fiscal management policies which comply with generally accepted accounting principles, including, but not limited to, policies related to each of the following:
(1) Regular reconciliation of bank statements.
(2) Maintenance of fixed assets inventory.
(3) Deposit of incoming funds.
(4) Review of monthly revenues and expenditures.
Structure Code of Alabama
Chapter 13A - School Fiscal Accountability.
Section 16-13A-1 - Fiscal Management Policies.
Section 16-13A-3 - Financial Training of Local Superintendents of Education.
Section 16-13A-4 - Appointment; Removal of Chief School Financial Officer; Qualifications.
Section 16-13A-5 - Supervision, Fiduciary Responsibility of Chief School Financial Officer; Duties.
Section 16-13A-6 - Required Reports.
Section 16-13A-8 - Authority to Expend Funds.
Section 16-13A-9 - Reserve Funds.
Section 16-13A-10 - Penalties for Failing to Comply With Chapter.
Section 16-13A-11 - Liability.
Section 16-13A-13 - Publication of Budget and Financial Information.