The Board of Directors recognizes that its primary purpose is to provide the best education possible within the limits of the established curriculum and the financial ability of the school district. The Board also recognizes its responsibility to the citizens of the school district for the efficient use of public funds and for reporting to the public.
Date of Adoption: November 23, 1982
Revised: February 11, 1992
May 9, 1995
August 26, 1997
The development of the school district budget is a continuous process and shall involve long-term planning, study, and deliberation by the superintendent, board, staff, and citizens. A calendar shall be prepared to guide the budget development process.
Legal Reference: Code of Iowa, Chapter 24
Date of Adoption: November 23, 1982
February 11, 1992
May 9, 1995
August 26, 1997
The preparation of the formal budget document shall be the responsibility of the superintendent of schools or designee. The superintendent or designee shall present to the Board prior to April 15, a budget to be adopted and a certificate of school taxes to be levied.
Prior to the budget adoption, any taxpayer shall be heard in favor of or against the proposed budget. The Board shall rule on each objection, make adjustment or corrections when appropriate, and proceed with budget adoption.
Legal Reference: Code of Iowa, Chapter 24
Date of Adoption: November 23, 1982
February 11, 1992
May 9, 1995
August 26, 1997
The accounting system shall conform with the requirement of the Department of Education. The district shall follow the most recent revision of the Uniform Financial Accounting System for Public School Districts and Area Education Agencies.
Legal Reference: Code of Iowa, Chapter 256.9(18)
Date of Adoption: November 23, 1982
Revised: February 11, 1992
May 9, 1995
August 26, 1997
All income received by the school district shall be classified under the official accounting system and be deposited into an official school district depository as set by the board in accordance with the laws of the State of Iowa.
Legal Reference: Code of Iowa, Chapter 453
Date of Adoption: December 21, 1982
Revised: February 11, 1992
May 9, 1995
August 26, 1997
The board recognizes the need to provide transportation for students meeting the criteria for bussing based on the existence of hazardous conditions, but who do not live the required distance from school to receive free bussing. When bussing has been determined to be justified on the basis of meeting safety criteria the parent(s)/guardian(s) shall be so notified of the service and any required fee.
Legal Reference: Code of Iowa, 285.1(b)
Date of Adoption: December 21, 1982
Revised: February 11, 1992
May 9, 1995
August 26, 1997
The superintendent shall establish regulations governing the use of the property and/or equipment outside the school day. The superintendent shall set up a schedule of compensation for such use of school buildings and/or equipment.
Legal Reference: Code of Iowa Chapter 297.9, 297.10
Date of Adoption: December 21, 1982
Revised: February 11, 1992
May 9, 1995
August 26, 1997
Funds in excess of current needs shall be invested in compliance with this policy. The goals of the school district’s investment portfolio in order of priority are:
• To provide safety of the principal;
• To maintain the necessary liquidity to match expected liabilities;
and
• To obtain a reasonable rate of return.
In making investments, the school district shall exercise the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use to meet the goals of the investment program.
School district funds are monies of the school district, including operating funds. "Operating funds" of the school district are funds which are reasonably expected to be used during a current budget year or within fifteen months of receipt. When investing operating funds, the investments must mature within three hundred and ninety-seven days or less. When investing funds other than operating funds, the investments must mature according to the need for the funds.
The Board authorizes the treasurer to invest funds in excess of current needs in the following investments:
• Interest bearing savings, money market, and checking accounts
at the school district authorized depositories;
• Iowa Schools Joint Investment Trust Program (ISJIT);
• Obligations of the United States government, its agencies and
instrumentalities; and,
• Certificates of deposit and other evidences of deposit at federally
insured Iowa depository institutions.
It shall be the responsibility of the treasurer to oversee the investment portfolio in compliance with this policy and the law.
Legal Reference: Code of Iowa Chapters 452.10, 453.1, 453.5, 453.6, 453.9, 453.10, 453.11, 453.1(2)
Date of Adoption: December 21, 1982
Revised: February 11, 1992
September 8, 1992
May 9, 1995
August 26, 1997
Gifts, grants, and bequests involving money, equipment, and furnishings may be accepted by the school district. All gifts, grants, and bequests shall be administered in pursuance of the terms of the gift or bequest. Such gifts shall become the property of the school district and shall be under the control of the board of directors.
Legal Reference: Code of Iowa Chapter 565.5
Date of Adoption: December 21, 1982
Revised: February 11, 1992
May 9, 1995
August 26, 1997
The approval of a financial institution as a depository shall be by written resolution or order which shall be recorded in the minutes. The minutes shall specify the name of each depository and the maximum amount which may be kept on deposit.
Legal Reference: Code of Iowa Chapter 453.2
Date of Adoption: December 21, 1982
Revised: February 11, 1992
May 9, 1995
August 26, 1997
The board shall, under legal petition, conduct an election for authorization to issue bonds. The election, the issuance, the sale, the receipts from sale, and the payment of the bonds shall be made in accordance with the statues of the State of Iowa.
Legal Reference: Code of Iowa Chapters 75, 76, 291.13, 298.18-24
Date of Adoption: December 21, 1982
Revised: February 11, 1992
May 9, 1995
August 26, 1997
The school district shall purchase products and services from within the district community provided that such products and services shall be competitive in quality and price.
Annually the district shall establish a procurement goal from certified targeted small businesses of at least 10% of the value of the anticipated purchases.
The superintendent or designee shall approve all purchases made in the name of the school district except those authorized by direct action of the board.
Competitive bids shall be secured for purchases or contract when required by law and/or when directed by the board.
Legal Reference: Code of Iowa Chapters 23.18, 297.7, 297.8, 73.16(2)
Date of Adoption: February 8, 1983
Revised: July 15, 1992
May 9, 1995
August 26, 1997
The superintendent’s designee is authorized to issue warrants when the Board of Directors is not in session in the payment of freight, travel, postage, printing, water, light, phone, rent, and other recurring operating expenses upon receipt and verification of proper invoices. Authorization is granted to make payment for salaries pursuant to the terms of written contracts entered into by the Board. Authorization is also granted, upon receipt and verification of proper invoices, to make such payment which will result in loss to the school district if payment is delayed.
All bills and salaries for which warrants are issued prior to audit and allowance by the Board as provided herein shall be passed upon by the Board at the first meeting thereafter and shall be an entry of record in the regular minutes of the Secretary. All other claims against the district shall be paid only upon receipt of verified bills audited by the Board and approved at a regular or special session of the Board.
Legal Reference: Code of Iowa Chapter 279.29
Date of Adoption: February 8, 1983
Revised: February 11, 1992
May 9, 1995
August 26, 1997
Deductions from the Iowa City Community School District employees’ payroll checks shall be limited to the following items:
1. Federal income tax
2. State income tax
3. Health insurance
4. Dental insurance premiums
5. State retirement tax
6. Social Security tax
7. Annuity premiums pursuant to Public Law 87-370
8. Credit unions
9. Union dues
10. Flexible benefit (Section 125)
11. Iowa City Community School District Foundation
12. Charitable Payroll Deduction Campaign per policy 803.4
13. U.S. Savings Bonds
14. Association PAC contribution
15. Others required by law or specially approved
Date of Adoption: February 8, 1983
Revised: February 11, 1992
May 9, 1995
August 26, 1997
The objectives of the Charitable Payroll Deduction Campaign of the Iowa City Community School District are to:
1. Impose little administrative burden on the school district and minimize or eliminate costs to the taxpayers that such a campaign may entail;
2. Create little or no controversy in the workplace;
3. Create no disruption of the workplace;
4. Avoid the reality and appearance of the use of school district resources in aid of fund raising for groups substantially engaged in political activity or advocacy of public policy, or lobbying; and
5. Create a non-public forum through which charitable donations may be made.
To meet these objectives, eligibility for participation in the Charitable Payroll Deduction Campaign shall be limited to voluntary, charitable federations who conduct consolidated fund raising efforts on behalf of member organizations which qualify for tax exempt status described in Section 501(a) and Section 501(c) (3) of the Internal Revenue Code. However, notwithstanding the above, agencies that have a primary mission of seeking to influence the outcome of elections or the determination of public policy through political activity or advocacy; lobbying, or litigation shall be excluded from this campaign.
The superintendent or the superintendent's designee shall review the applications of federations seeking to participate in the Charitable Payroll Deduction Campaign and shall approve up to five qualifying federations meeting the objectives and criteria set forth in this policy.
Date of Adoption: August 22, 1995
Revised: September 8, 1997
The Board shall initiate an annual audit of the financial affairs of the school district to be done by the state auditing agency or a private auditing firm in accordance with the statutes of the State of Iowa.
Such annual audit reports shall remain on permanent file in the administration office of the school district.
Legal Reference: Code of Iowa Chapter 11.6
Date of Adoption: February 22, 1983
Revised: February 11, 1992
May 9, 1995
August 26, 1997
The Board of Directors shall maintain a comprehensive insurance program that will protect the district against accidental loss or losses which in the aggregate during any fiscal year would significantly affect school district personnel, property, its budget, or its ability to fulfill its responsibilities to the public. It shall be the policy of the Iowa City Community School District to assume the risk of property damage, legal liability, and dishonesty in all cases in which the exposure is so small or dispersed that a loss would not significantly offset the operations or financial position of the school district.
Insurance will not be purchased to cover loss exposure below the amount of $5,000 unless such insurance is required by statute or contract. Insurance will be purchased against all major exposure through the purchase of the following types of insurance:
- All Risk Insurance on real and personal property (including
Builder's Risk).
- General Liability Insurance.
- Automobile Liability Insurance.
- Fidelity and Crime Insurance.
- Workers’ Compensation Insurance.
The district shall annually budget as a line item in the general operating fund an amount to cover uninsured losses.
Property will be insured on a replacement cost basis, as determined by competent appraisal service, against as wide a range of perils as possible.
The administration of the risk management policy will be under the central direction of the superintendent or designee.
Legal Reference: Code of Iowa Chapter 613
Date of Adoption: June 14, 1983
Revised: August 9, 1983
February 11, 1992
August 26, 1997