N.Y. Comp. Codes R. & Regs. tit. 8 § 170.1

Current through Register Vol. 46, No. 51, December 18, 2024

Section 170.1 - Common school districts

The officers of common school districts shall carry out the following financial procedures:

(a) Pursuant to section 2129 of the Education Law, the trustee or trustees shall designate a bank or banks for the deposit of all district moneys.

(b) The proceeds of all loans and all other moneys shall at once be deposited in the designated bank.

(c) All moneys of the district shall be paid to the collector-treasurer or treasurer, whichever is the case, and no moneys shall be withdrawn except on the written order of the trustee or trustees.

(d) Payments shall be made only by order-checks signed by the trustee or trustees and the collector-treasurer or treasurer. In districts having three trustees, the order-check shall be signed by at least two of them.

(e) Trustees shall keep itemized bills to support all expenditures.

(f) The trustees shall make sure that the obligations of the district are kept within available appropriations and that no orders are drawn beyond the limits of the available moneys.

(g) The trustee or trustees shall settle all accounts of the district on or before each June 30th.

(h) The records of the district are public records and must be available for examination at all reasonable hours.

(i) The trustee or trustees may require financial reports from the treasurer at any time.

(j) The collector-treasurer or treasurer must secure and verify the district's bank statements before preparing written reports to the trustee(s) and the annual school meeting.

(k) Bank statements, canceled checks, and canceled notes are part of the official records of the collector-treasurer or treasurer and shall be preserved as public records.

(l) The trustee or trustees shall file their certificate and the collector's account of unpaid taxes and affidavit with the county treasurer on or before the 15th day of November as required by section 1330 of the Real Property Tax Law.

(m) At the end of the school year, after the district's accounts have been audited by a certified public accountant or public accountant, the cashbook kept by the collector-treasurer or treasurer, the revenue and appropriation expense ledgers kept by the trustees, and all other supporting records and documents shall be delivered to the district superintendent at the time the trustee's annual report is filed. They shall remain on file for a period of 10 years, after which time these records may be destroyed, upon authorization of the Commissioner of Education. In the event that a district is dissolved within such 10-year period, such records shall be turned over to a successor district, and shall be retained for 10 years from that date.

N.Y. Comp. Codes R. & Regs. Tit. 8 § 170.1