Policy 3113 – District Fund Accounts

The District will maintain the following funds for the accounting of District moneys: teachers’
fund, incidental fund, capital projects fund and debt service fund. The treasurer of the District
will open and maintain an account for each fund. These funds are denoted for state reporting
purposes as: General Fund, Fund 1 – comprised of the Incidental; Fund 2 – the Special Revenue
Fund, comprised of the Teachers’ Fund; Fund 3 – The Debt Service Fund; and Fund 4 – the
Capital Projects Fund.

All sums received from the county school fund arid all sums derived from taxation for teachers’
wages will be credited to the teachers’ fund. All tuition fees, state moneys received under
§162.975 and 163.031, and all other sums received from the state except as otherwise provided
in this policy will be credited to the teachers’ fund and incidental funds at the discretion of the
Board. The portion of state aid received by the District pursuant to § 163 .031, which is included
in the operating levy for school purposes, will be credited to the debt service or capital projects
funds. Sums received from other Districts for transportation and sums received from taxation for
incidental expenses will be credited to the incidental fund. All sums received from taxation or
received from any other source for the erection of buildings, building additions, remodeling, or
reconstruction, furnishing, for the payment of lease purchase obligations, for purchase of real
estate, for sale of real estate or personal property, from insurance, from sale of bonds other than
refunding bonds will be credited to the capital projects fund.

Sums received from taxation for the retirement of bonds and the payment of interest on bonds
will be credited to the debt service fund. Receipts from delinquent taxes will be credited to
individual funds on the same basis as receipts from current taxes. However, where such
distribution of receipts from delinquent taxes would affect the previous years’ obligations,
distribution to the various funds will be based on the levies for the years in which the obligations
were incurred. All refunds will be credited to the fund from which the original expenditure was
made. Sums donated to the District will be credited to the fund from which it can be expended to
meet the purpose of the donation. Sums received from any other source will be credited to the
fund designated by the Board.