Code No. 701.2
Depository of Funds
Each year at its annual meeting, the board will designate by resolution the name and location of the Iowa financial depository institution or institutions to serve as the official school district depository or depositories. The maximum deposit amount to be kept in depository will be stated in the resolution. The amount stated in the resolution must be for all depositories and include all of the school district’s funds.
It is the responsibility of the board secretary to include the resolution in the minutes of the meeting.
Legal Reference: Iowa Code §§ 279.33 (2013).
Cross Reference: 207.4 Treasurer
212.1 Annual Meeting
704.1 Revenues
Approved: May 8, 1989
Reviewed: April 17, 2017
Revised: April 17, 2017