Revolving Funds

MJUSD
DIVISION 3000
BUSINESS AND NONINSTRUCTIONAL OPERATIONS

REVOLVING FUNDS

District Revolving Fund
The Governing Board has established by resolution a revolving cash fund for use by the Superintendent or designee in paying for goods, services and other charges determined by the Board, including supplemental payments required to correct any payroll errors. (Education Code 42800-42806, 45167)

At the request of the Board, County Auditor or County Superintendent of Schools, the Superintendent or designee shall give an account of the fund. (Education Code 42804)

The Board shall review and revise fund usage as appropriate.

Additional Revolving Funds
The Board also may, by resolution, establish revolving cash funds for use by school principals and other administrative officials to pay for goods and services. The total amount of the funds shall not exceed three percent (3%) of the current year's instructional supply budget. (Education Code 42810)

No funds maintained in a revolving fund shall be used in an attempt to influence government decisions, for entertainment purposes, or for any other purpose not related to classroom instruction. (Education Code 42810)

The Board shall name the administrators who will have use and control of the funds. Officials so named shall be responsible for all payments into the accounts as well as expenditures from the accounts, subject to restrictions established by the Board.

The revolving cash fund for supplies shall be subject to the bonding provisions of Education Code 42801.

The Board shall provide an audit of revolving funds on a regular basis. (Education Code 42810)


Legal Reference:

Education Code
35160 Authority of governing boards
41020 Audits of all district funds
42238 Local taxation by school districts
42800-42806 Revolving cash fund
42810 Revolving cash funds; use; administrators
45167 Error in salary

First Reading: 11/8/00

Governing Board Adoption: 1/17/01

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