6420 - Online Banking Services


Adoption: 8/9/2012
Revised: 1/17/2019
6000 - Fiscal Management

6420 Online Banking Services

The Board of Education requires clear, complete, and detailed accounting of all financial transactions for which the Board is held accountable. The transferring of funds via online banking services between various accounts and the transfer of funds from District accounts to non-district accounts, and vice versa, for various purposes, are financial transactions to be properly monitored and controlled.

The Board of Education authorizes the District Treasurer, Deputy District Treasurer and the Assistant Superintendent for Business to transmit wire transfers or electronic fund transfers on behalf of the District for payments by the District and for transferring funds between accounts maintained by the District.

The District Treasurer, Deputy District Treasurer and Assistant Superintendent for Business, each with a separate established user name and password, will have authority to process online banking transactions. All online banking transactions require dual authorization prior to the completion of the transaction. The District Treasurer or Deputy District Treasurer will record all transfer transactions and will maintain documentation related to such transfers.

The Board of Education allows for the use of online banking for other activities required for the District to conduct day to day business including:

  1. the viewing of bank account information and daily transactions posting to District accounts, and
  2. the receipt of revenues from various sources.

Each bank transfer will be recorded in monthly receipts and disbursements, showing the amount of monies and purpose of the transferring of funds.