HIBBING PUBLIC SCHOOLS
INDEPENDENT SCHOOL DISTRICT 701


BOARD POLICY 702
SERIES: 700 Non-Instructional Operations and Business Services
SUBJECT: 702 Accounting
ADOPTED:  
REVISED:  


The school district shall maintain its books and records and do its accounting in compliance with the Uniform Accounting and Reporting Standards for Minnesota School Districts (UFARS) and in compliance with applicable state laws and rules relating to reporting of revenues and expenditures.

The school board shall provide for an annual audit of the books and records of the school district to assure compliance of its records with UFARS.  The school district shall also, on or before October 1 of each year, provide for the publication of the financial information specified in M.S. 123B.10




Legal References:
M.S. 123B.75 (Revenue)
M.S. 123B.76 (Expenditures)
M.S. 123B.77 (Accounting, Budgeting and Reporting Requirements)
M.S. 123B.78 (Cash Flow, Revenues, Borrowing, Deficits)
M.S. 123B.79 (Permanent Fund Transfers)
M.S. 123B.80 (Exceptions for Permanent Fund Transfers)
M.S. 123B.09 (School Board Powers)
M.S. 123B.14 Subd. 8 (Duties of School Board Clerk)
M.S. 123B.02 (School District Powers)
M.S. 123B.10 (Publication of Financial Information)