Board Policy

BP 3460

Business and Noninstructional Operations

Financial Reports And Accountability

The Board of Education is fully committed to meeting its financial responsibility to the public. The Superintendent or designee shall keep the Board fully informed about the district's financial condition and fiscal operations. The Board shall adopt sound financial policy and shall maintain accountability for the financial condition of the district.

As required by law, the Board shall assess the district's financial condition twice annually and shall certify to the County Superintendent of Schools whether or not the district is able to meet its financial obligations for the remainder of the fiscal year and for the subsequent fiscal year. (Education Code 42131)

The Superintendent or designee shall submit to the Board of Education a monthly or bi-monthly financial report. Revisions to the district's budgeted revenues and expenditures will be proposed as needed.

(cf. 3100 - Budget)

(cf. 3110 - Transfer of Funds)

(cf. 3300 - Expenditures/Expending Authority)

Legal Reference:

EDUCATION CODE

17150 Public disclosure of non-voter-approved debt

33127 Standards and criteria for local budgets and expenditures

33128 Standards and criteria; inclusions

33129 Standards and criteria; use by local agencies

35035 Powers and duties of superintendent

41010 Accounting system

41020 Requirement for annual audit by county superintendent of schools

41450 Assistance and guidance to local offices of education

41455 Examination of financial problems of local districts

42100 Requirement to prepare and file annual statement

42127.6 School district operations monitoring; financial obligation nonpayment

42130-42134 Financial reports and certifications

42140-42142 Public disclosure of fiscal obligations

42647 Drawing of warrants by district on county treasurer; form of warrant; application and approval

GOVERNMENT CODE

3540.2 School district; qualified or negative certification; proposed agreement review and comment

16429.1 Local agency investment fund

53646 Reports of investment policy and compliance

CODE OF REGULATIONS, TITLE 5

15453-15466 Criteria and Standards for School District Interim Reports

15480-15493 Criteria and Standards for County Office of Education Reports

Policy PALOS VERDES PENINSULA UNIFIED SCHOOL DISTRICT

adopted: July 7, 1993 Palos Verdes Estates, California

revised: March 22, 2001