All income, whether in the form of cash, checks or bank transfers, shall be properly recorded. Bank accounts shall be maintained in Board-approved banking institutions. All monies received by FIS are to be deposited in these bank accounts as quickly as possible.

Any monies in excess of immediate cash needs shall be invested as agreed by the Finance Committee.

t shall be the policy of FIS to limit cash in school buildings to those monies reasonably required to maintain effective day-to-day financial operation of the school. A petty cash fund shall provide for payment of immediate expenses. The limit shall be agreed by the Finance Committee.

Large sums of cash are periodically generated as part of school or school-related functions. It is recognized that this requires occasional build-up of monies above that required for petty cash needs. Such occasions shall be kept to a reasonable minimum, and the monies shall be deposited into FIS bank accounts as quickly as possible.

Specific procedures shall be prepared and implemented by the Administration, to define how cash monies in school buildings shall be handled and safely maintained. Such procedures shall be agreed by the Finance Committee.