It is the responsibility of the board to appoint a treasurer. The board may appoint a treasurer from its employees, other than a position requiring a teaching certificate, or from the public. To finalize the appointment, the treasurer will take the oath of office during the meeting at which the individual was appointed or no later than ten days thereafter.
It is the responsibility of the treasurer to oversee the investment portfolio, to receive funds of the school district, to pay out the funds for expenses approved by the board, to maintain accurate accounting records for each fund, to report monthly regarding the investment portfolio and the status of each fund and to file required reports with the appropriate state agencies and other entities
If the treasurer is unable or unwilling to carry out the duties required, a suitable replacement will assume those duties until a treasurer is able to resume the responsibility or a new treasurer is appointed.
| Legal Reference: | Iowa Code §§ 12B.10; 12C; 279.3, .5, .7 .31-.33, .35; 291.2-.4, .6-.12, .14. 281 I.A.C. 12.3(1). |
| I.C. Iowa Code | Description |
|---|---|
| Iowa Code § 12B.10 | Public Funds Investment Standards |
| Iowa Code § 12C | Deposit of Public Funds |
| Iowa Code § 279 | Directors - Powers and Duties |
| Iowa Code § 291 | Board Officers |
| I.A.C. Iowa Administrative Code | Description |
|---|---|
| 281 I.A.C. 12.3 | Administration |
Cross References
| Code | Description |
|---|---|
| 202.02 | Oath of Office |
| 206.03 | Secretary (I, II) |
| 210.01 | Annual Meeting |
| 215 | Board of Directors' Records |
| 215-EH(1) | Board of Directors' Records - Board Meeting Minutes |
| 701.01 | Depository of Funds |
| 704.03 | Investments |
| 707.02 | Treasurer's Annual Report |
| 707.03 | Publication of Financial Reports |
Approved: 3/18/2024
