Code No. 701.1

PLANNING THE BUDGET

Planning the budget document shall be a continuous process and shall involve study and deliberation by the Superintendent, the Board of Directors, the administrative staff, supervisory and professional staff, and the citizens of the District.

Consideration shall be given to the following factors:

l.          Assessment of the desired educational and activity program and its impact upon the budget.

2.         Assessment of the District's estimated revenues.

3.         Assessment of the District's estimated expenditures.

It shall be the responsibility of the Superintendent and the Director of Business Services to make recommendations and to bring potential major expenditures to the attention of the Board of Directors during the planning stage of the budget for the next fiscal year.

 

Date of Review:  April 9, 2018

 

Date of Revision:    August 13, 2012

Legal References:   8.51, Chapter 24, Chapter 257, 278.1, 297.22, Chapter 298, Chapter 298A, 618.14, 721.2, Code of Iowa

886079

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 701.2

PREPARATION OF THE BUDGET DOCUMENT

 

The preparation of the formal budget document shall be the responsibility of the Superintendent and the Director of Business Services.  The Superintendent shall present to the Board of Directors preliminary budget figures with sufficient supporting documentation for the next fiscal year sufficiently in advance of budget deadlines in order for the Board to thoroughly review the document and solicit comments.  The Board shall adopt a proposed budget and file it with the Secretary of the Board no later than March 26 of each year.

 

Date of Review:  April 9, 2018

 

Date of Revision:    August 13, 2012

Legal References:   8.51, Chapter 24, Chapter 257, 278.1, 297.22, Chapter  298, Chapter 298A, 618.14, 721.2, Code of Iowa

886080

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 701.3

REQUIREMENTS OF THE BUDGET DOCUMENT

The budget document shall include the following information:

1.        The estimated amount of income for the several funds from sources other than taxation.

 

2.        The estimated amount proposed to be raised by taxation.

 

3.        The amount proposed to be expended in each fund and for each general purpose during the ensuing fiscal year.

 

4.        A comparison of the amounts proposed to be expended with the amounts expended or to be expended for like purposes for the two fiscal years preceding the fiscal year covered by the budget.

 

5.        Fully itemized estimates for each particular class of proposed expenditure, showing under separate headings the amounts required, in such manner and form as prescribed by the Iowa Department of Education.

 

The budget document shall also contain a brief explanatory section to describe any program changes for the ensuing year that may be responsible for changes in expenditures.

 

Date of Review:  April 9, 2018

 

Date of Revision:    August 13, 2012

Legal References:   8.51, Chapter 24, Chapter 257, 278.1, 297.22, Chapter  298, Chapter 298A, 618.14, 721.2, Code of Iowa

886081

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 701.4

PUBLICATION OF THE BUDGET

The Board of Directors shall adopt a proposed budget for the ensuing year.  This proposed budget shall be filed with the Board Secretary no later than March 26 of each year.  The Board of Directors shall establish the time and place for the public hearing on the budget document, such hearing to be held in sufficient time to file the adopted budget with the county auditor by April 15.  Notice of the hearing shall be given at least ten days in advance of the hearing.

 

Date of Review:  April 9, 2018

 

Date of Revision: April 9, 2018		Legal References:   8.51, Chapter 24, Chapter 257, 278.1, 297.22, Chapter  298, Chapter 298A, 618.14, 721.2, Code of Iowa
01462722

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 701.5

BUDGET ADOPTION BY THE BOARD

The Board of Directors shall, after the public budget hearing, adopt the final budget for the ensuing fiscal year and certify it to the county auditor.

The final budget shall be certified by the President of the Board of Directors in duplicate to the county auditor with a verified proof of publication of the notice of hearing no later than April 15 of each year, on forms prescribed by the State.

 

Date of Review:  April 9, 2018

 

Date of Revision:    August 13, 2012

Legal References:   8.51, Chapter 24, Chapter 257, 278.1, 297.22, Chapter  298, Chapter 298A, 618.14, 721.2, Code of Iowa

886083

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 701.6

BUDGET AS A SPENDING PLAN

The final certified budget shall be considered as the authority for all expenditures to be made during the fiscal year covered by the budget.  Any expenditure to be made that exceeds the final certified budget shall be made only in accordance with procedures specified in applicable laws and regulations.  Amendments to the budget to allow expenditures in excess of the certified budget may be considered and adopted at any time during the fiscal year covered by the budget allowing sufficient time to file the adopted amendment with the county auditor by May 31.  The amendments will be filed with the Secretary of the Board.  The Board of Directors will establish a time and place for a public hearing on the amendments, with notice to be given at least ten days in advance of the hearing.  Following the hearing, if the Board approves the amendments, the Board shall certify the amendments to the county auditor along with a verified proof of publication of the notice of the hearing.

 

Date of Review:  April 9, 2018

 

Date of Revision: April 9, 2018 01462723

Legal References:   8.51, Chapter 24, Chapter 257, 278.1, 297.22, Chapter  298, Chapter 298A, 618.14, 721.2, Code of Iowa

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 701.7

TRANSFER OF INACTIVE ACCOUNT FUNDS

 

When the necessity for maintaining any fund has ceased to exist, and a balance remains in that fund, the Board of Directors may by resolution transfer the balance to the fund or funds designated by the Board, unless other provisions of law apply.  However, balances remaining in funds approved by the voters for a specific purpose or funds received for a specific purpose shall only be transferred when the purpose for which the monies were received has been completed.  Voter approval is required to transfer monies to the general fund from the capital projects fund, physical plant and equipment levy fund, debt service fund or public education and recreation levy fund.

It shall be the responsibility of the Director of Business Services to make recommendations to the Board regarding transfers and to provide the documentation justifying the transfer.

 

Date of Review:  April 9, 2018

 

Date of Revision:       August 13, 2012

Legal References:   8.51, Chapter 24, Chapter 257, 278.1, 297.22, Chapter  298, Chapter 298A, 618.14, 721.2, Code of Iowa

 

886086

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 702.1

RECEIPT OF INCOME

 

The Board Secretary, Director of Business Services or Superintendent Designee shall receive funds of the District.  Other persons receiving revenues on behalf of the District shall immediately turn the revenues over to the Board Secretary or Director of Business Services. 

All income received by the District shall be classified under the official accounting system.  The Board Secretary or the Director of Business Services shall timely deposit all District funds into the official school district depository or depositories set by the Board in accordance with the laws of the State of Iowa.

 

Date of Review:  April 9, 2018

 

Date of Revision:    August 13, 2012

Legal References:   Chapter 12C, 279.41, 279.42, 291.6, 291.7, 291.12,      297.10, 297.22, 297.36, 298.3, 298.4, 298.13, 298.14    Chapter 298A, 300.2, 473.20, 721.2, Code of Iowa

886087

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

 

Code 702.10

Online Fundraising Campaigns - Crowdfunding

 

The Decorah Community School District Board of Education believes online fundraising campaigns, including crowdfunding campaigns, may further the interests of the District.  Any person or entity acting on behalf of the District and wishing to conduct an online fundraising campaign for the benefit of the district shall begin the process by seeking prior approval from the Superintendent.  Money or items raised by an online fundraising campaign will be the property of the District only upon acceptance by the Board, and will be used only in accordance with the terms for which they were given, as agreed to by the Board.

Approval of requests shall depend on factors including, but not limited to:

• Compatibility with the District’s educational program, mission, vision, core values, and beliefs:
• Congruence with the District and school goals that positively impact student performance;
• The District’s instructional priorities;
• The manner in which donations are collected and distributed by the crowdfunding platform;
• Equity in funding; and
• Other factors deemed relevant or appropriate by the District.

If approved, the requestor shall be responsible for preparing all materials and information related to the online fundraising campaign and keeping district administration apprised of the status of the campaign.

The requestor is responsible for compliance with all state and federal laws and other relevant District policies and procedures.  All items and money generated are subject to the same controls and regulations as other District property and shall be deposited or inventoried accordingly.  No money raised or items purchased shall be distributed to individual employees.

 

Date of Review:  April 9, 2018

 

Date of Adoption: May 14, 2018                            01462191

Legal References:   Chapters 279.8, 279.42, 565.6, Code of Iowa

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 702.2

DISTRICT SALE OF GOODS AND SERVICES

The Board of Directors claims exemption from the application of Iowa law prohibiting competition with private enterprise for the following activities:

1.         Goods and services that are directly and reasonably related to the educational mission of the District.

2.         Goods and services offered only to students, employees or guests of the District which cannot be provided by private enterprise at the same or lower cost.

3.         Use of vehicles owned by or contracted for by the District for trips offered to the public or to students.

4.         Goods or services which are not otherwise available in the quantity or quality required by the District.

5.         Telecommunications (including radio and television stations if in the District).

6.         Providing facilities for cultural events, fitness and recreation.

7.         Food sales and services.

8.         Sale of books, records, tapes, software, educational equipment and supplies.

9.         Items displaying the emblem, mascot or logo of the District or that otherwise promote the identity of the District and its program if sold in the District.

10.       Souvenirs and programs relating to events sponsored by or at the District.

1. Goods, products, or professional services which are produced, created or sold incidental to the District's teaching, research and extension missions.

 

Date of Review:  April 9, 2018

 

Date of Revision:   June 16, 2003

Legal References:   Chapter 23A, Code of Iowa

543365

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 702.3

EDUCATIONAL MATERIAL FEES

The Board may charge students fees for the use, purchase, damage or destruction of certain educational materials or supplies as authorized by law. Fees received by the District for educational materials shall be deposited in the general fund.  It shall be the responsibility of the Superintendent to recommend to the Board of Directors each year a schedule of fees for designated educational materials or supplies to students.

 

Date of Review:  April 9, 2018

 

Date of Revision:    August 13, 2012

Legal References:   279.8, 282.6, 298A.2, 30l.24-.27, Code of Iowa; 281 I.A.C. 12.1(2), 12.3(1)

886088

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 702.4

STUDENT ACTIVITY FUNDS

 

Funds from student activities and from fundraising for activities raised by students shall be classified as District funds and shall be properly held and accounted for by the Director of Business Services.  An audit of these accounts shall be made at the same time as the annual audit.

Expenditures from student activity funds shall be approved by the Director of Business Services.  Sponsors of student activities shall also maintain a record of student activities and expenditures.

Funds remaining in the senior class activity account after graduation or other unencumbered funds from activities that are discontinued shall be transferred to such accounts as designated by the Superintendent.

Gate and concession receipts from student activities shall be deposited whenever possible on the same day of the event.  When this is not possible, receipts shall be kept in a locked vault and deposited in a timely manner.  The Superintendent shall be responsible for designating the individual(s) who shall be in charge of collecting, counting and depositing receipts.

 

Date of Review:  April 9, 2018

 

Date of Revision:   August 13, 2012

Legal References:   11.6, 279.8, 280.l4, 298A.8, Code of Iowa; 281 I.A.C. 12.6

01435181

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 702.5

SCHOOL BONDS AND INDEBTEDNESS

 

The Board of Directors may, upon receipt of a legal petition, or upon its own motion if legally authorized, conduct an election for authorization to issue school bonds.  The election, the sale and the issuance of the bonds, the payment of the bonds, and the use of the proceeds of the bonds shall be in accordance with the laws of the State of Iowa and shall comply with federal tax laws in order to qualify them as tax-exempt bonds.  Revenues generated from an approved bond issue shall be used only for the purpose(s) stated on the ballot and shall be deposited into the capital projects fund.  However, once the purpose(s) is fulfilled, any balance remaining in a capital projects fund may be retained for future capital projects in accordance with the purpose stated on the ballot or any remaining balance may be transferred by a Board resolution to the debt service fund or to the physical plant and equipment levy fund.  Voter approval is required to transfer monies to the general fund from the capital projects fund.  Records of identity of owners of public bonds are confidential records and are not open to public inspection.

The Board of Directors may authorize the incurrence of indebtedness on behalf of the District when the Board determines that the acquisition of equipment and of other services are necessary for the District, and it is determined by the Board to be in the District’s best interests to acquire the equipment or services immediately.  The total indebtedness shall not exceed Constitutional or statutory limitations and shall be issued in accordance with the laws of the State of Iowa.

 

Date of Review:  April 9, 2018

 

Date of Revision: April 9, 2018                              01462725

Legal References:   Iowa Constitution, Article XI, Section 3; 12C.9,           73A.12, 73A.16, 73A.19, Chapters 74A, 75 and 76,      277.2, 277.3, 278.1, 279.26, 279.48, 279.52, 285.10,     Chapter 296, 297.36, 298.2, 298.16, 298.18-.24,           298A.9, 298A.10, 473.20, 721.2, Code of Iowa

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 702.6

INVESTMENTS

District funds in excess of current needs shall be invested in compliance with this policy and in compliance with the law.  The goals of the District’s investment portfolio in order of priority are:

                        1.         To provide safety of the principal.

                        2.         To maintain the necessary liquidity to match expected liabilities.

                        3.         To obtain a reasonable rate of return.

The responsibility for conducting investment transactions resides with the Director of Business Services/Treasurer.  Only the Director of Business Services/Treasurer and those authorized by resolution may invest public funds.  When making investments or depositing public funds, the Director of Business Services/Treasurer shall exercise the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use to meet the goals of the investment program.

District funds are monies of the District, including operating funds.  “Operating funds” of the District are funds which are reasonably expected to be used during a current budget year or within fifteen months of receipt.  When investing operating funds, the investments must mature within three hundred and ninety-seven days or less.  When investing funds other than operating funds, the investments must mature according to the needs for the funds.

The Board authorizes the Director of Business Services/Treasurer to invest funds in excess of current needs in the following investments:

• Interest bearing savings, money market, and checking accounts at the District’s authorized depositories.
• Iowa Schools Joint Investment Trust Program (ISJIT).
• Obligations of the United States government, its agencies and instrumentalities.
• Certificates of deposit and other evidences of deposit at federally insured Iowa depository institutions.
• Repurchase agreements in which underlying collateral consists of investments in government securities.  The District must take delivery of the collateral either directly or through an authorized custodian.  Reverse repurchase agreements are not authorized investments. 
• Prime bankers' acceptances that mature within two hundred seventy days and that are eligible for purchase by a federal reserve bank.  At the time of purchase no more than ten percent of the investment portfolio can be in these investments and no more than five percent of the investment portfolio can be invested in the securities of a single issuer.​
• Commercial paper or other short-term corporate debt that matures within two hundred seventy days and that is rated within the two highest classifications, as established by at least one of the standard rating services, with no more than five percent at the time of purchase placed in the second highest classification.  At the time of purchase no more than ten percent of the investment portfolio can be in these investments and no more than five percent of the investment portfolio can be invested in the securities of a single issuer.
• An open-end management investment company registered with the federal securities exchange commission and commonly referred to as a money market mutual fund.  The money market mutual fund shall use only the investments individually authorized by law for school districts.

It shall be the responsibility of the Director of Business Services/Treasurer to oversee the investment portfolio in compliance with this policy and the law.  The Director of Business Services/Treasurer and all officers and employees of the District shall refrain from personal business activity that could conflict with proper execution of the investment program, or which could impair their ability to make impartial investment decisions.

The records of investment transactions made by or on behalf of the District are public records and are the property of the District whether in the custody of the District or in the custody of a fiduciary or other third party.

It shall be the responsibility of the Director of Business Services/Treasurer to bring to the Board of Directors for review and approval any contract with any outside person to invest District funds, to advise on investments, to direct investments, to act in a fiduciary capacity or to perform other services.  The Director of Business Services/Treasurer shall also provide the Board with information about and verification of the outside person’s fiduciary bond.  Contracts with outside persons shall include a clause requiring the outside person to notify the District within thirty days of any material weakness in internal structure or regulatory orders or sanctions against the outside person regarding the services being provided to the District and to provide the documents necessary for the performance of the investment portion of the District audit.  The compensation of the outside persons shall not be based on the performance of the investment portfolio.

The Director of Business Services/Treasurer shall be responsible for reporting to and reviewing with the Board at its regular meetings the investment portfolio’s performance, transaction activity and current investments including the percent of the investment portfolio by type of investment and by issuer and maturities.  The report shall also include trend lines by month over the last year and year-to-year trend lines regarding the performance of the investment portfolio.  It shall also be the responsibility of the Director of Business Services/Treasurer to obtain the information necessary to ensure that the investments and the outside persons doing business with the District meet the requirements outlined in this policy.

It shall be the responsibility of the Superintendent to deliver a copy of this policy to the District’s depositories, auditor and outside parties assisting with or facilitating investments of the funds of the District.

It shall also be the responsibility of the Superintendent, in conjunction with the Director of Business Services/Treasurer, to develop a system of investment practices and internal controls over the investment practices.  The investment practices shall be designed to prevent losses, to document the officers’ and employees’ responsibility for elements of the investment process and address the capability of the management.

 

Date of Review:  April 9, 2018

Date of Revision: April 9, 2018 01462727

Legal References:   11.2, 11.6, 11.11, 12.62, 12B.10-.12, Chapter 12C, 22.1, 279.29, 502.701, Code of Iowa

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS 

Code No. 702.7

GIFTS, GRANTS, AND BEQUESTS

 

Gifts, grants, and bequests to the District shall be either accepted or rejected by the Board of Directors.  All gifts, grants, and bequests shall be deposited into a trust fund, agency fund or permanent fund, shall be used or administered in accordance with the terms of the gift or bequest, and shall become the property of the District under the control of the Board of Directors.  The District shall not accept gifts, grants, or bequests that improperly discriminate on the basis of race, color, sex, sexual orientation, gender identity, national origin, ethnic background, religion, creed, political belief, physical attribute, generic information, socio-economic status or any other protected class under state or federal law.

The District shall judge and accept or reject all media gift materials based on the same criteria applied to materials selected and purchased by the District.  The District, because of function and space of the media centers, cannot promise in all cases to maintain a collection or group of educational materials as a single entity segregated from the circulating and reference collections.  The District reserves the right to make the decision as to the most appropriate use and housing of a gift collection.  Educational materials may be identified by appropriate name plates indicating donor information.

 

Date of Review:  April 9, 2018

 

Date of Revision: April 9, 2018                            01462728

Legal References:   279.42, 298A.2, 298A.13, 565.6, Code of Iowa

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 702.8

DEPOSITORIES OF FUNDS

 

At the annual meeting of the Board of Directors, the Board of Directors shall designate by resolution, which shall be entered in the official minutes of the Board, the names and locations of the banks, savings and loan associations, savings banks, or credit unions selected as the official District depository or depositories.  The Board shall also designate the maximum amount that may be kept on deposit in each institution.

 

Date of Review:  April 9, 2018

 

Date of Revision: June 16, 2003                            543371

Legal References:   12B.10, 12B.12, Chapter 12C, 279.33, Code of Iowa

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 702.9

POST-ISSUANCE COMPLIANCE POLICY FOR

TAX-EXEMPT OBLIGATIONS

 

1.         Compliance Coordinator:

a)         The Treasurer ("Coordinator") shall be responsible for monitoring post-issuance compliance.

b)         The Coordinator will maintain a copy of the transcript of proceedings in connection with the issuance of any tax-exempt obligations.  Coordinator will obtain such records as are necessary to meet the requirements of this policy.

c)         The Coordinator shall consult with bond counsel, IRS publications and such other resources as are necessary to understand and meet the requirements of this policy.

d)         Training and education of Coordinator will be sought and implemented upon the occurrence of new developments and upon the hiring of new personnel to implement this policy.

2.         Financing Transcripts.  The Coordinator shall confirm the proper filing of an 8038 Series return, and maintain a transcript of proceedings for all tax-exempt obligations issued by the School District, including but not limited to all tax-exempt bonds, notes and lease-purchase contracts.  Each transcript shall be maintained until eleven (11) years after the tax-exempt obligation it documents has been retired.

3.         Proper Use of Proceeds.  The Coordinator shall review the resolution authorizing issuance for each tax-exempt obligation issued by the School District, and shall:

a)         obtain a computation of the yield on such issue from the School District’s financial advisor; 

b)         create a separate Project Fund (with as many sub-funds as shall be necessary to allocate proceeds among the projects being funded by the issue) into which the proceeds of issue shall be deposited;

c)         review all requisitions, draw schedules, draw requests, invoices and bills requesting payment from the Project Fund;

d)         determine whether payment from the Project Fund is appropriate, and if so, make payment from the Project Fund (and appropriate sub-fund if applicable);

e)         maintain records of the payment requests and corresponding cancelled checks showing payment;

f)          maintain records showing the earnings on, and investment of, the Project Fund;

g)         ensure that investments acquired with proceeds are purchased at fair market value;

h)         identify bond proceeds or applicable debt service allocations that must be invested with a yield-restriction and monitor the investments of any yield-restricted funds to ensure that the yield on such investments does not exceed the yield to which such investments are restricted.

            4.  Timely Expenditure and Arbitrage/Rebate Compliance.  The Coordinator shall review the Tax-Exemption Certificate (or equivalent) for each tax-exempt obligation issued by the School District and the expenditure records provided in Section 2 of this policy, above, and shall:

a)         monitor and ensure that proceeds of each such issue are spent within the temporary period set forth in such certificate;

b)         if the School District does not meet the "small issuer" exception for said obligation, monitor and ensure that the proceeds are spent in accordance with one or more of the applicable exceptions to rebate as set forth in such certificate;

c)         not less than sixty (60) days prior to a required expenditure date confer with bond counsel if the School District will fail to meet the applicable temporary period or rebate exception expenditure requirements of the Tax-Exemption Certificate; and

d)         in the event the School District fails to meet a temporary period or rebate exception:

i.          procure a timely computation of any rebate liability and, if rebate is due, file a Form 8038-T and arrange for payment of such rebate liability;

ii.         arrange for timely computation and payment of "yield reduction payments" (as such term is defined in the Code and Treasury Regulations), if applicable.

5.         Proper Use of Bond Financed Assets.  The Coordinator shall: 

a)         maintain appropriate records and a list of all bond financed assets.  Such records shall include the actual amount of proceeds (including investment earnings) spent on each of the bond financed assets;

b)         with respect to each bond financed asset, the Coordinator will monitor and confer with bond counsel with respect to all proposed:

             i.         management contracts,

             ii.        service agreements,

            iii.        research contracts,

            iv.        naming rights contracts,

             v.        leases or sub-leases,

            vi.        joint venture, limited liability or partnership arrangements,

            vii.       sale of property; or

            viii.      any other change in use of such asset;

c)         maintain a copy of the proposed agreement, contract, lease or arrangement, together with the response by bond counsel with respect to the proposal for at least three (3) years after retirement of all tax-exempt obligations issued to fund all or any portion of bond financed assets; and

d)         In the event the School District takes an action with respect to a bond financed asset, which causes the private business tests or private loan financing test to be met, the Coordinator shall contact bond counsel and ensure timely remedial action under IRS Regulation Sections 1.141-12.

6.         General Project Records.  For each project financed with tax-exempt obligations, the Coordinator shall maintain, until three (3) years after retirement of the tax-exempt obligations or obligations issued to refund those obligations, the following:

            a)         appraisals, demand surveys or feasibility studies,

            b)         applications, approvals and other documentation of grants,

            c)         depreciation schedules,

            d)         contracts respecting the project.

7.         Continuing Disclosure.  The Coordinator shall assure compliance with each continuing disclosure certificate and annually, per continuing disclosure agreements, file audited annual financial statements and other information required by each continuing disclosure agreement.  The Coordinator will monitor material events as described in each continuing disclosure agreement and assure compliance with material event disclosure.  Events to be reported shall be reported promptly, but in no event not later than ten (10) Business Days after the day of the occurrence of the event, and shall include, but not be limited to:

            a)         Principal and interest payment delinquencies;

            b)         Non-payment related defaults, if material;

            c)         Unscheduled draws on debt service reserves reflecting financial difficulties;

            d)         Unscheduled draws on credit enhancements relating to the bonds reflecting financial difficulties;

            e)         Substitution of credit or liquidity providers, or their failure to perform;

            f)          Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the tax-exempt status of the bonds, or material events affecting the tax-exempt status of the bonds;

            g)         Modifications to rights of Holders of the Bonds, if material;

            h)         Bond calls (excluding sinking fund mandatory redemptions), if material, and tender offers;

            i)          Defeasances of the bonds;

            j)          Release, substitution, or sale of property securing repayment of the bonds, if material;

            k)         Rating changes on the bonds;

            l)          Bankruptcy, insolvency, receivership or similar event of the Issuer;

            m)        The consummation of a merger, consolidation, or acquisition involving the Issuer or the sale of all or substantially all of the assets of the Issuer, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material; and

            n)         Appointment of a successor or additional trustee or the change of name of a trustee, if material.

Date of Review:  March 8, 2021

 

Date of Revision:   April 12, 2021

 

 

 

 

 

01841884

 

EXHIBIT A

 

LISTED EVENTS

 

The following events automatically trigger a requirement to file on EMMA within ten (10) business days of their occurrence (listed events are subject to change by the SEC):

 

(1) Principal and interest payment delinquencies;

 

(2) Non-payment related defaults, if material;

 

(3) Unscheduled draws on debt service reserves reflecting financial difficulties;

 

(4) Unscheduled draws on credit enhancements reflecting financial difficulties;

 

(5) Substitution of credit or liquidity providers, or their failure to perform;

 

(6) Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the tax status of the security, or other material events affecting the tax status of the security;

 

(7) Modifications to rights of security holders, if material;

 

(8) Bond calls, if material, and tender offers;

 

(9) Defeasances;

 

(10) Release, substitution, or sale of property securing repayment of the securities, if material;

 

(11) Rating changes;

 

(12) Bankruptcy, insolvency, receivership or similar event of the obligated person[1];

 

Note to paragraph (b)(5)(i)(C)(12):

For the purposes of the event identified in paragraph (b)(5)(i)(C)(12) of this section, the event is considered to occur when any of the following occur: The appointment of a receiver, fiscal agent or similar officer for an obligated person in a proceeding under the U.S. Bankruptcy Code or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or business of the obligated person, or if such jurisdiction has been assumed by leaving the existing governing body and officials or officers in possession but subject to the supervision and orders of a court or governmental authority, or the entry of an order confirming a plan of reorganization, arrangement or liquidation by a court or governmental authority having supervision or jurisdiction over substantially all of the assets or business of the obligated person.

 

(13) The consummation of a merger, consolidation, or acquisition involving an obligated person or the sale of all or substantially all of the assets of the obligated person, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material;

 

(14) Appointment of a successor or additional Director or the change of name of a Director, if material;

 

Additionally, the following events apply to Disclosure Agreements entered by the District on or after October 22, 2020:

 

(15) Incurrence of a Financial Obligation of the obligated person, if material[2], or agreement to covenants, events of default, remedies, priority rights, or other similar terms of a Financial Obligation of the obligated person, any of which affect security holders, if material*; and

 

(16) Default, event of acceleration, termination event, modification of terms, or other similar events under the terms of a Financial Obligation of the obligated person, any of which reflect financial difficulties.

 

 

Suggested Practices in Submitting Annual Financial Information to EMMA*

 

Annual Financial Information is to be submitted to EMMA as follows:

 

• through the EMMA Dataport;

 

• in one or more electronic word-searchable portable document format files configured to permit documents to be saved, viewed, printed and retransmitted by electronic means (“properly formatted pdf file”); and

 

• indexed by the submitter as “Annual Financial Information and Operating Data” – this EMMA indexing category should be used for all submissions consisting of one or both parts of an annual financial information submission. A submission should be indexed in EMMA by the submitter as “Annual Financial Information and Operating Data” if it consists of complete annual financial information (including audited financial statements and/or the CAFR).

 

If the audited financial statements have not been prepared in time to meet the deadline:

 

• file unaudited financial statements with a notice to the effect that the unaudited financial statements are being provided pending completion of audited financial statements and that the audited financial statements will be submitted to EMMA when they have been prepared.

 

If annual financial information is provided by reference to other submitted documents file:

 

• a notice that includes specific reference to a document available on the EMMA website or the SEC (such as, but not limited to, an official statement), to the extent that such document in fact includes the information required to be include in the annual financial information; and

 

• the submitter should confirm that such document in fact is available from the EMMA website or the SEC and should include in such notice (A) a textual description of the document that includes the required information, with sufficient detail for a reasonable person to determine the precise document being referenced, and (B) an active hyperlink to the pdf file of such document as then posted on the EMMA website or to the SEC’s EDGAR system; further, if such document includes audited financial statements, the submitter should also index such submission as “Audited Financial Statements or CAFR” in addition to (but not instead of) “Annual Financial Information and Operating Data” unless the submitter submits such audited financial statements separately to EMMA.

 

Failure to file notices are to be submitted to EMMA as follows:

 

• through the EMMA Dataport;

 

• as an electronic word-searchable and properly formatted pdf file; and

 

• indexed by the submitter as “Failure to Provide Annual Financial Information.”

 

* Procedures subject to change.

 

 

 

 

 

Name of Issue/Principal Amount	Date of Issue	Final Maturity Date	CUSIP for Final Maturity	Date by which Annual Reports Must be Filed (or "exemption" under the Rule)	Annual Reports Information to be Filed	Source of Information	Date Information was Filed

 

 

 

 

 

01841892

Code No. 703.1

PURCHASING AND BIDDING

The official budget document shall be considered as the authority for all expenditures which are made during the fiscal year.  Overall expenditures for any fiscal period shall not exceed the budgeted amount for any one fund except with approval of the School Budget Review Committee.  Categorical breakdowns within funds shall be used primarily for budget control for the current fiscal year and for future budget planning.

Before the District enters into any contract for any public improvement to cost more than the currently-established bid threshold amount, the Board shall adopt proposed plans and specifications, proposed form of contract, estimate of total cost, and hold a hearing thereon in accordance with Iowa law.  In addition, the Board shall solicit competitive bids as required by the statutes of the State of Iowa.  The Board shall award a competitively-bid contract to the lowest responsive, responsible bidder.

Before the District enters into any contract for any public improvement to cost at least the statutory threshold for competitive quotations, but not in excess of the established competitive bid threshold, the Board shall follow the competitive quotation procedures as required by the statutes of Iowa, including the use of plans and specifications prepared by a licensed architect and/or engineer.  The District may also submit a quote to use its own employees.  The Board shall record the quotes in Board meeting minutes and award the contract to the lowest responsive, responsible contractor.

The above procedures need not be followed if a routine maintenance and repair project is being done by District employees.  The procedures also need not be followed if emergency public improvement repairs are necessary to prevent the closing of a school, and the administrator of the Area Education Agency issues a certificate to that effect.

The Superintendent shall approve all purchases of goods and services made in the name of the District, except those authorized by direct action of the Board of Directors.  The Superintendent shall have the authority to authorize purchases for any single item or single group of items without competitive bids for goods costing $25,000 or less without prior Board approval.  For goods or equipment costing more than $25,000, the Superintendent shall compare prices of the goods either by competitive bids or by quotations prior to making a recommendation to the Board.

When using federal Child Nutrition funds to purchase goods and services, dollars spent annually must be estimated.  It is acceptable to categorize (e.g. groceries, milk, produce, small equipment, large equipment, supplies, and chemicals).  A formal sealed bid procurement process is required when annual spending in the category exceeds $25,000 annually.  An informal process is used for all other purchases under the threshold annually.  Documentation of information procurement activity is kept on file.

The contract will be awarded to the lowest responsible bidder based upon total cost considerations, including, but not limited to, the cost of the goods and services being purchased, availability of service or repair, delivery date, prior record of the bidder, and other factors deemed relevant by the District.  The District retains the right to reject all bids and to waive any irregularities in its discretion. 

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS Page 1 of 2

Code No. 703.1

PURCHASING AND BIDDING

It shall be the policy of the Board of Directors to purchase products and services from enterprises within the District community which offer the goods and services if the cost and other considerations are relatively equal.  The District shall give preference to purchasing Iowa products and purchasing from Iowa based businesses if the bids submitted are comparable in cost and meet the required specifications.  When spending federal Child Nutrition Funds, geographical preference is allowed only for unprocessed agricultural food items.  Other statutory purchasing preferences will be applied as provided by law.  The Superintendent or designee is responsible for ensuring compliance with federal suspension and disbarment requirements.

In addition, when practical, the District will endeavor to coordinate and combine purchases with other governmental bodies to take advantage of volume price breaks.  In such cases, the procedures of this policy need not be followed if the other entity has utilized bidding or other comparative purchase procedures.

 

 

 

 

 

 

 

 

 

 

 

Date of Review:  April 9, 2018

 

Date of Revision:   September 17, 2018   01520616

Legal References:   23A.3, Chapter 26, 72.3, Chapter 73, 278.1, 279.28, 285.10, 297.7, 297.8, 297.22, 301.1, 362.3, 721.2, Code of Iowa

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS Page 2 of 2

Code No. 703.2

REQUISITIONS

 

Any District employee or student desiring to purchase goods or services for the District shall file a requisition with the appropriate administrator or supervisor for approval.  All requisitions requiring purchase orders pursuant to Code No. 703.3 must then have the approval of the Superintendent or of the business office.

 

Date of Review:  April 9, 2018

 

Date of Revision: June 16, 2003

Legal References:   279.8, Code of Iowa

01435198

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

 

Code No. 703.3

PURCHASE ORDERS

Goods to be purchased by District personnel or by students, except those purchased pursuant to a valid written contract, shall be procured only after the issuance of a purchase order, unless the purchase is for goods costing less than $100 to be purchased within District boundaries, in which case a requisition form may be used.  Purchase orders shall be signed as follows:

1. Either the Food Service Director or Director of Business Services may sign purchase orders for food and supplies (not equipment) for the District's meal program.  Only one signature is required.
2. The business office shall sign purchase orders for custodial and maintenance goods, supplies and equipment.  Only one signature is required.
3. The building principal may sign purchase orders for expenditures from the student activity fund.  Only one signature is required.
4. All other purchases shall have purchase orders signed by the business office (one signature), and if for a building, also by the building principal (two signatures).

Date of Review:  April 9, 2018

 

Date of Revision: August 13, 2007

Legal References:   279.8, Code of Iowa

 

01435202

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 703.4

RECEIVING GOODS AND SERVICES

All goods and services purchased in the name of the District shall be cleared through the District's receiving department.  In the event goods are delivered to a school building, it shall be the duty of the building principal or supervisor to certify to the District's receiving department office the receipt of the goods.

Date of Review:  April 9, 2018

 

Date of Revision: June 16, 2003                            01435205

Legal References:   279.8, Code of Iowa

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 703.5

APPROVAL AND PAYMENT FOR
GOODS AND SERVICES

 

The Board of Directors at each regular meeting of the Board, and at other times as necessary, shall approve payment of bills which have been verified for goods and services received and accepted.

The Board Secretary may, with approval of the Board President or the Superintendent, issue payments for goods or services when the Board is not in session, provided the expenses or claims are reasonable and necessary, are verified as valid by the Secretary and provided the payment is acted on by the Board no later than its next regular meeting.

The Board President and the Board Secretary may sign payments by use of a signature plate or rubber stamp.  If the Board President is unavailable to sign payments, the Board Vice-President may sign the payments on behalf of the President.

Date of Review:  April 9, 2018

 

Date of Revision: April 9, 2018   01462754

Legal References:   19B.8, 23A.3, Chapter 26, 72.3, Chapter 73, 274.1,       Chapter 279, 291.6, 291.7, 291.8, 291.12, 721.2(2), Code of Iowa; 261 I.A.C., Chapter 54; 281 I.A.C. 12.3(1), 43.25

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

 

Code No. 703.6

UNPAID WARRANTS

 

The Board may authorize issuance of stamped warrants when there are insufficient funds to pay legal obligations.  The Board Secretary shall show the number and amount, the date interest commences, the rate of interest, the name and address of the holder and shall keep a record of any assignment of the warrants.  When sufficient funds are available, the Secretary shall present the warrants for payment.

The Board may sell anticipatory warrants or participate in a group sale of anticipatory warrants in accordance with the laws of Iowa to generate sufficient cash flow.

 

Date of Review:  April 9, 2018

 

Date of Revision: June 16, 2003                            543394

Legal References:   Chapters 74 and 74A, 291.6, 291.8, 291.12, Code of Iowa

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 703.7

PAYROLL PERIODS

Licensed employees shall be paid on the 15th and 28th day of each month.  Classified employees who are contracted for 200 or more days per contract year shall be paid on the 15th and 28th days of each month.  All other employees shall be paid on the 15th day of each month.  If the pay day is a holiday, recess, or weekend, the payroll shall be paid on the last working day prior to the holiday, recess or weekend.  All employees under contract shall be paid in accordance with the provisions of their signed contract.

Date of Review:  April 9, 2018

 

Date of Revision:      August 13, 2012

Legal References:   20.9, Chapter 91A, 279.8, Code of Iowa

 

885952

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 703.8

PAYROLL DEDUCTIONS

Payroll deductions shall consist of federal income tax withholdings, Iowa income tax withholdings, social security, Medicare, and Iowa Public Employees' Retirement System contributions.  Deductions may also be made for unpaid leaves of absence consistent with Code 404.12.  In addition, any employee may elect to have payments withheld for District group insurance programs and/or for a tax-sheltered annuity program in accordance with business office procedures.  Any and all optional deductions will only be initially made upon written request of the employee and may be revoked after receiving a written request from the employee.

 

Date of Review:  April 9, 2018

 

Date of Revision: April 9, 2018                            01462780

Legal References:   20.9, 91A.5, 97B.11, 279.12, 294.8, 294.16, Code of Iowa

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 703.9

TRAVEL AND EXPENSE REIMBURSEMENTS

 

School officials and employees are encouraged to use District vehicles, whenever possible.  They will be reimbursed for authorized use of their personal automobiles at a rate determined by the Board of Directors.  This will not include travel between their homes and their normal work sites.  School employees must make a request each time the personal automobile is to be used or the Superintendent must approve routine reimbursable trips.  The official or employee must file an expense voucher to receive reimbursement, showing the miles driven, the destination and the purpose for the trip.  A monthly expense voucher may be filed by employees authorized to routinely make trips.  School officials and employees shall have personal liability insurance on their vehicles.

School officials and employees may also be reimbursed actual and necessary expenses incurred for attendance at professional meetings, conferences and other activities authorized in advance by the administration or Board of Directors.  An expense voucher shall be submitted to receive reimbursement, with original supporting documentation attached, e.g. registration fees, hotel/motel bills, meals receipts, taxi service, parking bills.  No alcoholic beverages, personal telephone calls, gratuities, or other items for personal use shall be reimbursable.  Air transportation may be paid directly or reimbursed by the District.  If an official or employee drives his/her personal automobile out of state rather than using commercial air transportation, the person shall be reimbursed for mileage and for additional hotel/motel and meals expenses arising because of additional travel time at the lesser of (1) actual expenses or (2) the costs of common carrier transportation (coach class of air travel).

Hotel/motel, meal and other expenses will be reimbursed only for the period of time for attendance at the activity, which may include for the evening of the day of the close of the activity if travel back on that evening is not reasonably available or if there is a savings from a flight the next day.  If an official or employee stays longer for personal reasons, the person will not be reimbursed for personal expenses or for any travel expenses saved the District as the result of the longer stay.

Date of Review:  April 9, 2018

 

Date of Revision: June 16, 2003                            543399

Legal References:   70A.9, 70A.10, 70A.11, 279.32, 280.14, 721.11, Code of Iowa

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 703.10

CREDIT CARDS

The Board authorizes the Superintendent to obtain District credit or procurement cards for use by officials and employees to pay for actual and necessary expenses incurred in the performance of work-related duties. Such cards shall not be used for purchasing goods for personal use or for non-business-related matters. The Board shall approve obtaining such credit or procurement cards and the maximum limits on each. The Director of Business Services shall report to the Board all credit or procurement cards obtained.  No card may have a charge limit in excess of $10,000.  The Superintendent shall have control of such cards and shall determine who may have access to and/or use the credit cards.  No employee shall use the cards without prior approval of the Director of Business Services and shall only use the cards in accordance with established District procedures.

Any official or employee using a District credit or procurement card shall immediately submit to the business office the original credit charge slip and any supporting receipts.

 

Date of Review:  April 9, 2018

 

Date of Revision: April 9, 2018

Legal References:   279.8, Code of Iowa

 

01462793

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 703.11

PARTISAN POLITICAL EXPENDITURES

 

The use of public funds for any political purpose, including the support of or position for a ballot issue, is strictly prohibited.  The District will comply with all state and federal statutes and regulations regarding use of public money for political purposes.

In order to be in compliance with the federal auditing program, all expenditures for partisan political activities are prohibited.

 

Date of Review:  April 9, 2018

 

Date of Revision: April 9, 2018

Legal References:   279.38, Code of Iowa

01462795

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 703.12

PETTY CASH ACCOUNTS

 

The Board of Directors authorizes the central administration office and each school building to have a petty cash fund not to exceed $200 in each building, except that the High School petty cash fund shall not exceed $500.  Reimbursement of petty cash funds shall be made upon submission to the Director of Business Services of proper receipts and records to substantiate the expenditures of petty cash funds.  All expenditures of petty cash funds shall be charged to the appropriate expenditure budget account.

 

Date of Review:  April 9, 2018

 

Date of Revision: August 13, 2007		Legal References:   279.8, 280.14, Code of Iowa

543380

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 703.13

PURCHASING ON BEHALF OF DISTRICT PERSONNEL

District personnel may not purchase items for their own private use through District purchasing, except in unique circumstances approved by the Superintendent in compliance with Iowa law.  No purchase shall be made unless the employee has paid the District prior to the order being placed.

Date of Review:  April 9, 2018

 

Date of Revision:    August 13, 2012

Legal References:   279.8, 280.14, Code of Iowa

885955

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 703.14

EXPENDITURES FOR PUBLIC PURPOSES

• Meals may also be provided to District officials and employees and consultants if the provision of meals facilitate working time not to exceed $20.00 per attendee.
• In support of a positive work environment and recognition of exemplary effort, administrators may seek reimbursement for up to $500.00 annually for items such as treats or snacks (cookies, bagels, etc.) for the staff they supervise.

To show hospitality, the Board of Directors also authorizes the expenditure of District funds for coffee and soft drinks (or other form of hydration) in the school buildings. Coffee, soft drinks, and light refreshments, such as cookies or pastries, may also be made available to the public at Board and committee meetings to promote a welcoming environment and as a common courtesy for individuals who travel to the District building for attendance at District meetings and conferences.

No District funds will be used to pay the cost of any alcoholic beverage and no alcoholic beverage will be available on school grounds.

 

 

Date of Review: November 18, 2019

Date of Adoption: November 18, 2019

01656033

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 704.1A

FUND BALANCE REPORTING

 

The Governmental Accounting Standards Board (GASB) Statement 54, Fund Balance Reporting and Governmental Fund Type Definitions, establishes accounting and financial reporting standards for all governments that report governmental funds, and requires the District to disclose certain requirements.  Therefore, the District identifies the following as District operating policy.

The fund balance identified as 'committed fund balance' will be determined by the Board of Directors and will require formal board action.  An identified committed fund balance should be for a specific purpose pursuant to constraints imposed by the formal action of the Board of Directors.  The Board of Directors will take action to 'commit' a fund balance prior to year-end (June 30) of the year the original committed amount is determined.  The exact amount of the committed balance may be determined after the year-end; however, in compliance with GASB 54 the intended committed purpose must be identified, prior to year-end (June 30).

In the event that a committed fund balance is identified subsequent to year-end (June 30), the amount will be reflected on the balance sheet as assigned for that year.

The committed amounts cannot be used for any other purpose unless the Board of Directors at a public meeting by formal action makes changes or rescinds the committed balance. 

The Board of Directors authorizes the Director of Business Services to assign amounts to a specific purpose in compliance with GASB 54.  An assigned Fund Balance should be reported for constraints by the District's intent to be used for specific purpose, but is not restricted or committed. 

In accordance with the GASB 54 the District identifies that when an expenditure is incurred, it is applied to the highest level of classification of fund balance and then subsequently applied to honor constraints on the specific purposes for which amounts in those fund balances can be spent.

 

Date of Review:  April 9, 2018

 

Date of Adoption:        August 13, 2012

Legal References:    Governmental Accounting Standards Board (GASB) Statement 54

877087

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

 

Code No. 704.2

MONTHLY FINANCIAL REPORTS

 

The Board Secretary or Director of Business Services shall file each month with the Board of Directors a financial statement of the preceding month's business showing all receipts and disbursements from the various funds during the preceding month and also the balance of each fund at the close of the month.

The Board Secretary or Director of Business Services shall publish a schedule of bills allowed at least once monthly including the name of the person or firm making the claim, the purpose of the claim and the amount of the claim.  Salaries paid to individuals regularly employed by the District need only be published once annually.

Date of Review:  April 9, 2018

 

Date of Revision:    August 13, 2012

Legal References:   8.51, 12B.11, 12B.12, Chapter 22, 279.29, 279.30, 279.31, 279.33, 279.35, 279.36, 291.6, 291.7,              291.8, 291.12, 291.14, Chapter 298A, Code of Iowa

885959

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 704.3

ANNUAL FINANCIAL REPORT

 

At a regular or special meeting held on or after August 31 of each year, and prior to the organizational meeting held after the regular school election, the Director of Business Services/Treasurer shall make a financial report to the Board, which shall show the amounts of each fund held over, received, paid out, and on hand, with the several accounts to be separately stated as of June 30.  The Treasurer shall file a copy of the annual report with any agency prescribed by law, including a sworn statement from each depository showing the balance then on deposit in each depository.  The annual financial report shall be available for public inspection.

 

Date of Review:  April 9, 2018

 

Date of Revision:    August 13, 2012

Legal References:   279.31, 279.33, 291.14, Code of Iowa

885960

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 704.4

AUDITS

 

The Board of Directors shall cause to be initiated annually by the state auditing agency or by a certified public accounting firm an audit of the financial affairs of the District, in accordance with the laws of the State of Iowa.  It shall be the responsibility of the Director of Business Services to utilize procedures, including a request for proposals, to solicit proposals from auditing agencies and certified public accounting firms and to provide information to the Board of Directors regarding agencies and firms to enable the Board to select an auditing agency or firm.

Annual audit reports shall remain on permanent file in the administrative offices of the District and shall be open to public inspection.

 

Date of Review:  April 9, 2018

 

Date of Revision: April 9, 2018

Legal References:   Iowa Code Chapter 11, Chapter 22, Code of Iowa; 281 I.A.C. 12.3(8)

01462799

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 704.5

FISCAL YEAR

The District fiscal year shall begin July 1 and end June 30 each year.

 

Date of Review:  April 9, 2018

 

Date of Revision: June 16, 2003                            543407

Legal References:   8.51, Code of Iowa

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 704.6

INTERNAL CONTROLS

All Board members, employees, volunteers, consultants, vendors, contractors, students and other parties shall act with integrity, due diligence, and in accordance with all laws when involved with the District’s resources.

Internal control is the responsibility of all employees of the District.  The Superintendent and Director of Business Services shall be responsible for developing internal controls designed to prevent and to detect fraud, financial impropriety, or fiscal irregularities within the District, subject to review and approval by the Board.  Each administrator and supervisor shall be alert for any indication of fraud, financial impropriety, or irregularity within the administrator’s or supervisor’s area of responsibility.

Persons who suspect fraud, impropriety, or financial irregularity shall report their suspicions immediately to their immediate supervisor or to the Superintendent.  The Superintendent shall have primary responsibility for any necessary investigations and shall coordinate investigative efforts with the District’s legal counsel, auditing firm, and other agencies, including law enforcement officials, as the Superintendent may deem appropriate.

Employees bringing forth a legitimate concern about a potential impropriety will not be retaliated against.  Any person who retaliates against such an employee will be subject to disciplinary action up to, and including, discharge.

In the event the concern or complaint involves action of the Superintendent, the concern shall be brought to the attention of the Board President, who shall be empowered to contact the District’s legal counsel, auditing firm, and any other agency to investigate the concern or complaint.

Upon approval of the Board, the Superintendent may contact the State auditor or the District’s auditing firm to conduct a complete or partial forensic/internal control/SAS99 audit.  The Superintendent is authorized to order a complete forensic audit if, in the Superintendent’s judgment, such an audit would be useful and beneficial to the District.  The Superintendent shall ensure the State Auditor is notified of any suspected embezzlement or theft pursuant to Iowa law.  In the event there is an investigation, records will be maintained for use in the investigation.  Individuals found to have altered or destroyed records will be subject to disciplinary action, up to, and including discharge.

 

Date of Review:  April 9, 2018

 

Date of Revision: May 14, 2018                          01522714

Legal References:   Chapter 11, 279.8, Code of Iowa

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 704.7

GOVERNMENTAL ACCOUNTING PRACTICES AND REGULATIONS

 

School district accounting practices will follow state and federal laws and regulations, generally accepted accounting principles (GAAP) and the uniform financial accounting system provided by the Iowa Department of Education.  As advised by the school district’s auditor, determination of liabilities and assets, prioritization of expenditures of governmental funds and provisions for accounting disclosures shall be made in accordance with governmental accounting standards.

In Governmental Account Standards Board (GASB) Statement No. 54, the board identifies the order of spending unrestricted resources applying the highest level of classification of fund balance – restricted, committed, assigned, and unassigned – while honoring constraints on the specific purposes for which amounts in those fund balances can be spent.  A formal board action is required to establish, modify and/or rescind a committed fund balance.  The resolution will state the exact dollar amount.  In the event the board chooses to make changes or rescind the committed fund balance, formal board action is required.

The Board authorizes the Director of Business Services to assign amounts to a specific purpose in compliance with GASB 54.  An ‘assigned fund balance’ should also be reported in the order of spending unrestricted resources, but is not restricted or committed.

It is the responsibility of the Superintendent to develop administrative regulations implementing this policy.  It is also the responsibility of the Superintendent to make recommendations to the Board regarding fund balance designations.

Date of Review:  April 9, 2018

 

Date of Revision: April 9, 2018

Legal References:   Iowa Code §§ 257.31(4); 279.8; 297.22-.25, 298A; GASB Statement 54

01435268

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code 705.1

District Records Maintained

 

District records shall be housed in the administrative offices of the District or in another secure location.  It shall be the responsibility of the Board Secretary to oversee the maintenance of the records in accordance with applicable laws and policies.

The Board Secretary shall cause to be kept and preserved, according to the schedule below, the following records:

 

Record	Retention
$      The official minutes of the school board, including resolutions	Permanently
$      Board meeting agendas	2 years
$      Detailed minutes and audio tapes of closed sessions	1 year
$      A copy of board policies	Until superseded
$      Oaths of Office	Permanently with the minutes
$      Fidelity bonds of officials	5 years after expiration
$      Bids accepted	5 years
$      Bids rejected	1 years beyond audit
$      Citizen petitions	3 years after close of issue
$      Ballots	6 months after the election if not contested
$      Articles of Incorporation	Permanently
$      Records of patents, copyrights, trademarks, etc.	Permanently
Correspondence	Retention
$      Financial correspondence	5 years
$      Personnel correspondence	7 years after termination
$      Credit and collection correspondence	7 years
Correspondence	Retention
General correspondence	3 years or as long as administratively useful or of historical value
Financial Reports and Records	Retention
$      Secretary=s and Treasurer=s financial accounting records	Permanently (general ledger, annual financial report, CAR)
$      Disbursement journals/register, receipt journals/register, check register, general journals and bank statements	10 years
$      Canceled warrants, check stubs, bills, invoices, receipts, purchase orders, requisitions, petty cash vouchers, cost accounting commutations, investment records, and bank reconciliations	5 years
$      Records and reports regarding uncollectible accounts	10 years
$      Interim financial reports	5 years
$      Claims for sales tax or fuel tax refunds	5 years
$      Audits	Permanently
Budget	Retention
$      Budget estimate worksheets	5 years
$      Final budget and certification summary	Permanently
$      Budget amendments	Permanently
$      Certified enrollment official summaries	Permanently
Fixed Asset Records	Retention
$      Documents relating to fixed asset	5 years beyond disposal of fixed asset
$      Fixed asset repair records	3 years
$      Inventories	5 years
$      Documents relating to real property transactions       (Includes such things as deeds, title opinions, abstracts, appraisals, certificate of title, title insurance, condemnation proceedings, easement and right of way agreements, plats and alterations of plats, blueprints and other structural plans or specifications and annexation files.)	Permanently
Legal Documents	Retention
$      Written contracts	10 years beyond the end of the contract
$      Purchase or service agreements for equipment or supplies	5 years after expiration
$      Record of payment of judgments against the district	20 years
$      Accidents on school property, settled out of court	10 years after settlement
$      Accidents on school property, court decisions	Permanently
$      Fire damage reports	5 years
$      Insurance policies	3 years after expiration
$      Special events permits and licenses	3 years
Bond Issues	Retention
$      Bond certificates	11 years after final recall (or possibly permanently)
$      Redeemed coupons should be stamped Apaid@	11 years
$      Bond register	Permanently
$      Records and documents pertaining to cancellation, transfer, redemption or replacement of public bonds or obligations $      Other records related to bonds.	Preserved by the issuer or its agent for a period of not less than 11 years During the outstanding period of the bonds, plus any refunding bonds) plus 3 years.
Student Records	Retention
$      The individual permanent record of each pupil   ·      Special Education Records	Permanently either in its original form or electronic media except as listed next 34 CFR 300.573 requires that a school inform parents when personally identifiable information collected, maintained, or used for special education purposes is no longer needed to provide educational services to the child.  At the request of the parents, that information must be destroyed.  This does not include the permanent record information of name, address, grades, attendance record, etc., which still may be maintained without time limit.  The district may want to caution parents that there are many good reasons why they might not want their childs special education record destroyed such as the potential future need to prove disability for SSI or SS-disability purposes
·     Cumulative student records	3 Years beyond graduation date or time when student would have graduated
Federal Programs	Retention
$      Child nutrition records pertaining to participation, financial information, and free and reduced-price meal applications	3 years in addition to the current fiscal year.  This is the federal fiscal year, so it really is 4 years.  Records of an unresolved audit must be retained until that audit is resolved
$      JTPA contracts and claims	5 years
$      Asbestos medical records or records of licensure	Minimum of 30 years
$      Generally records related to federal aid	5 years if audited. If there is a non-compliance problem/questioned cost, the records should be retained 3 years after settlement
Affidavits of Publication	Retention
$      Regarding budget	Until audited or 5 years
$      Regarding bond issues	5 years after final recall
$      Regarding other issues	5 years, except real estate which should be kept permanently if proof not filed with deed.
Union/Association Records	Retention
$     Negotiation records	As long as administratively useful
$     Master contracts	Permanently
$     Case files	10 years
Employee Accidents	Retention
$      Employer reports	5 years
$      OSHA reports	5 years
$      Worker compensation reports	5 years after final payment, however, if the case may result in future claims, the reports should be retained 60 years
Payroll	Retention
$     Payroll journals	60 years
$     Supporting payroll documentation	5 years
$     W-2s, W-3s, W-4s, 941s, deposits, 1099s, 1096s	5 years
$     Iowa withholding reports, job service reports	5 years
Personnel Records	Retention
$      Job descriptions	Permanently
$      Applications and resumes of those hired	60 years
$      Applications and resumes of those not hired	3 years
$      Results of tests/placements of those hired	60 years
$      Employment contracts	10 years after termination
$      Evaluations, continuing education records, employee medical exams	60 years
$     Resignations and reasons for termination	60 years
$     IPERS claims	60 years
$     Unemployment claims	5 years
$     Garnishment records	3 years beyond closure
$     Enrollments for direct deposit, insurance, etc.	As long as current
$     Health insurance payments and claims	5 years
$     EEO-4 Reports	5 years
$     EEO Plans	As long as current

 

The Secretary of the Board shall not be required to preserve original copies of Board of Directors' records permanently, but is authorized, after electronically storing the record, to destroy, by burning or shredding, any records.  Records stored electronically should have a secure back-up file.  A properly authenticated reproduction of any electronically stored record meets the same legal requirements as the original record.

 

Date of Review:  April 9, 2018

 

Date of Revision:   April 9,  2018

Legal References:   Chapter 22, 279.8, 291.6, 291.7, 291.8, 291.10, 721.10, Code of Iowa; 281 I.A.C. 12.3(1), 12.3(4)

 

01435269

Code No. 705.2

BONDS FOR OFFICERS AND EMPLOYEES

The Board Secretary and Board Treasurer shall give a bond to the District in such amount as the Board may require, with sureties to be approved by the Board.  The Secretary and Treasurer may give a bond under a single blanket bond covering other employees.  All other employees shall be covered by a blanket bond in an amount determined by the Board.  The cost of the bonds shall be paid from District funds.  Bonds shall be filed with the President of the Board.

Date of Review:  April 9, 2018

 

Date of Revision: April 9, 2018

Legal References:   279.8, 291.2, 291.3, Code of Iowa

01462803

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code 705.3

Capital Assets 

The school district will establish and maintain a capital assets management system for reporting capitalized assets owned or under the jurisdiction of the school district in its financial reports in accordance with generally accepted accounting principles (GAAP) as required or modified by law; to improve the school district's oversight of capital assets by assigning and recording them to specific facilities and programs and to provide for proof of loss of capital assets for insurance purposes.

Capital assets, including tangible and intangible assets, are reported in the government-wide financial statements (i.e. governmental activities and business type activities) and the proprietary fund financial statements.  Capital assets reported include school district buildings and sites, construction in progress, improvements other than buildings and sites, land and machinery and equipment.  Capital assets reported in the financial reports will include individual capital assets with an historical cost equal to or greater than $100,000.  The Federal regulations governing school lunch programs require capital assets attributable to the school lunch program with a historical cost of equal to or greater than $500 be capitalized.  Additionally, capital assets are depreciated over the useful life of each capital asset. 

All intangible assets with a purchase price equal to or greater than $100,000 with useful life of two or more years, are included in the intangible asset inventory for capitalization purposes.  Such assets are recorded at actual historical cost and amortized over the designated useful lifetime applying a straight-line method of depreciation.  If there are no legal, contractual, regulatory, technological or other factors that limit the useful life of the asset, then the intangible asset needs to be considered to have an indefinite useful life and no amortization should be recorded.

Phase III districts, as determined under GASB 34, will not retroactively report intangible assets.  If actual historical cost cannot be determined for intangible assets due to lack of sufficient records, estimated historical cost will be used.

This policy applies to all intangible assets.  If an intangible asset that meets the threshold criteria is fully amortized, the asset must be reported at the historical cost and the applicable accumulated amortization must also be reported.  It is not appropriate to “net” the capital asset and amortization to avoid reporting.   For internally generated intangible assets, outlays incurred by the government's personnel, or by a third-party contractor on behalf of the government, and for development of internally generated intangible assets should be capitalized.

The capital assets management system must be updated monthly to account for the addition/acquisition, disposal, relocation/transfer of capital assets.  It is the responsibility of the superintendent to count and reconcile the capital assets with capital assets management system on June 30 each year.

It is the responsibility of the superintendent to develop administrative regulations implementing this policy.  It will also be the responsibility of the superintendent to educate employees about this policy and its supporting administrative regulations.  

 

Date of Review:  April 9, 2018

 

Revised:   August 13, 2012

Legal Reference: 11.6, 256.9(18), 257.31(4), 279.8, Chapter 298A, Code of Iowa, 281 IAC 12.3(1)

 

Code 705.3R1

Captial Assets Regulation

 

A.      Capital Assets Management System

         The superintendent, and/or other designated staff, shall:

                1)     Conduct the fixed assets physical count;

                2)     Develop the fixed assets listing;

                3)     Tag fixed assets included in the fixed assets management system with a bar code identification number; 

                4)     Make a recommendation of a computer software program for managing the fixed assets management system;

                5)     Enter the necessary data into the fixed capital assets management system and compile the appropriate reports;

                6)     Develop forms and procedures for maintaining the integrity of the fixed capital assets management system; and,

                7)     Maintain responsibility for an accurate fixed capital assets management system. 

B.      Determining historical cost

          1.     The historical cost of a capital asset is based on the actual costs expended in making the capital assets serviceable. 

          2.     Gifts of capital assets are valued at the estimated fair market value at the addition/acquisition date. 

          3.     Fixed assets purchased under a capital lease are valued at historical cost of their net present value of the minimum lease payments on the addition/acquisition date.                      

          4.     The historical cost of capital assets must include capitalized interest.

C.      Annual capital assets listing reconciliation

          1.     The superintendent, and/or other designated staff, in conjunction with the capital assets management team, will conduct an annual capital assets physical count to develop the annual capital assets listing in a manner similar to the initial capital assets listing process in B above.  At least every three years, someone other than the person in custody of the capital assets in the building/department/room will perform the capital assets physical count for the building/department/room.

          2.     Upon completion of the annual capital assets listing, the capital assets listing is reconciled to the capital assets management system data base.

          3.     Capital assets found to have been excluded from the data base are added to the capital assets management system.  The capital assets management system process should be reviewed to prevent future incidents of excluding a capital asset.

          4.     Capital assets unaccounted for are reported to the superintendent who contacts the supervisor of and the individual in charge/control/custody of the capital asset.  The individual in charge/control/custody of the capital asset has thirty days to account for the capital asset.

          5.     Capital assets unaccounted for after thirty days are reported to the superintendent for appropriate action and documentation.  "Appropriate action" may include discipline, up to and including discharge, and may require the employee/person in charge/control/custody of the capital asset to replace the asset.

          6.     The superintendent is responsible for documenting the reasons each asset was not reconciled to the capital assets management system.

 D.     Addition/acquisition of capital assets. 

          1.     The school district's purchasing policy and administrative regulations must be followed when acquiring capital assets.  The school district's policy and administrative regulations must be followed for receiving a gift of capital assets.  

          2.     The capital assets addition/acquisition documentation must be completed for each additional capital assets with an addition/acquisition cost of equal to or greater than ($ capitalization threshold).  The following information should be collected, if applicable:

                  a.      Name of location-building/department/room;

                  b.      Location-building/department/room code;

                  c.      Balance sheet accounting/class code;

                  d.      Government or BTA program;

                  e.      Addition/acquisition date;

                  f.       Check/purchase order number or gift;

                  g.      Bar code identification number assigned to and placed on the capital asset;

                  h.      Serial/model number;

                  i.       Cost-historical;

                  j.       Fair market value on acquisition date (donated assets only);

                  k.      Estimated useful life;

                  l.       Vendor;

                  m.     Purchasing fund and function;

                  n.      Description of capital asset;

                  o.      Department/person charged with custody,

                  p.      Method of addition/acquisition-purchase, trade, gift etc.;

                  q.      Quantity;

                  r.       Replacement cost;

                  s.       Addition/acquisition authorization; and,

                  t.       Function for depreciation.

          3.     Capital assets acquired in a month must be entered into the capital assets management system in the same month.

          4.     The actual costs of construction in progress, other than infrastructure, is entered into the capital assets management system in the month in which costs are incurred until the total cost of addition/acquisition is entered.  Upon completion of construction, the total costs accumulated over the period of construction are reclassified to buildings.

          5.     Capital assets acquired in a month must be entered into the capital assets management system in the same month.

E.      Relocation/transfer of machinery and equipment capital assets.

          1.     A capital assets relocation/transfer documentation must be completed prior to removing machinery and equipment capital assets from their current location.  The following information must be collected:

                  a.      Relocation/transfer date;

                  b.      Quantity;

                  c.      Bar code identification number;

                  d.      Current location-building/department/room code;

                  e.      Name of current location-building/department/room;

                  f.       New location-building/department/room code;

                  g.      Name of new location-building/department/room;

                  h.      Date placed at new location-building/department/room;

                  i.       Department/person charged with custody; and

                  j.       Relocation/transfer authorization.

          2.     Capital assets relocated/transferred in a month must be entered into the capital assets management system in the same month.

 

F.      Disposal of capital assets

          1.     A Capital Assets disposal documentation must be completed prior to disposing of real property.  The following information must be collected:

                  a.      Disposal date;

                  b.      Quantity;

                  c.      Bar code tag identification number;

                  d.      Legal description,

                  e.      Location/Address;

                  f.       Purchaser;

                  g.      Disposal methods for real property trade, sale, stolen, etc.; and,

                  h.      Disposal authorization.

          2.     Capital assets disposed of in a month must be entered into the capital assets management system in the same month.

          3.     When assets are sold or disposed of, it is necessary to calculate and report a gain or loss in the statement of activities.  The gain/loss is calculated by subtracting the net book value (historical cost less any accumulated amortization) from the net amount realized on the sale or disposal.

G.     Lost, damaged or stolen capital assets.

          1.     A Lost, Damaged or Stolen Capital Assets Report must be completed when a capital asset has been lost, damaged or stolen. The following information must be collected:

                  a.      Date of loss, damage or theft;

                  b.      Employee/person discovering;

                  c.      Quantity;

                  d.      Description of capital asset;

                  e.      Bar code tag identification number;

                  f.       Location-building/department/room;

                  g.      Description of loss, damage, etc.;

                  h.      Filing of police report-yes or no;

                  i.       Filing of insurance report-yes or no;

                  j.       Sent for repair-yes or no;

                  k.      Date returned from repair;

                  l.       Date returned to location-building/department/room;

                  m.     Department/person charged with custody; and,

                  n.      Authorization.

          2.     Capital assets damaged, lost or stolen in a month must be entered into the capital assets management system in the same month.

H.     Capital assets reports

          1.     Annual reports for June 30 each year.    

                  a.      Capital assets listing including the following items:

                           1)      Balance sheet accounting/class code;

                           2)      Purchasing fund, function and depreciation function;

                           3)      Bar code tag identification number;

                           4)      Description of the capital asset;

                           5)      Historical cost or other;

                           6)      Location;

                           7)      Current year depreciation/expense; and,

                           8)      Accumulated depreciation/amortization.

                  b.      Capital assets listing by location/building;

                  c.      Capital assets listing by department/employee/person charged with custody; and,

                  d.      Capital assets listing by replacement cost. 

 

# 671565

CODE 705.3R2

 Capital Assets Management System Definitions

 

 

Back trending/standard costing - an estimate of the historical original cost using a known average installed cost for like units as of the estimated addition/ acquisition date.  This cost is only applied to the capital assets initially counted upon implementation of the capital assets management system when the historical original cost cannot be determined.  It is inappropriate to apply the back trending/standard costing method to any capital assets acquired after the assets management system implementation date.

Balance sheet accounting/class codes - the codes set out for assets in the Iowa Department of Education Uniform Accounting Manual.  They are:  200-capital assets; 211- land and land improvements; 221-site improvements; 222-accumulated depreciation on site improvements; 231-buildings and building improvements; 232-accumulated depreciation on buildings and building improvements; 241-machinery and equipment; 242-accumulated depreciation on machinery and equipment, 251-works of art and historical treasures; 252-accumulated depreciation on works of art and historical treasures, 261-infrastructure, 262-accumulated depreciation on infrastructure, and 271-construction in progress.

Book value - the value of capital assets on the records of the school district, which can be the cost or, the cost less the appropriate allowances, such as depreciation.

Buildings and building improvements - a capital assets account reflecting the addition/acquisition cost of permanent structures owned or held by a government and the improvements thereon.

Business-type activities – one of two classes of activities reported in the government-wide financial statements.  Business-type activities are financed in the whole or in part by fees charged to external parties for goods or services.  These activities are usually reported in enterprise funds.

Capital expenditures/expenses - expenditures/expenses resulting in the addition/acquisition of or addition/acquisition to the school district's capital assets.

Capital assets - Capital assets with a value of equal to or greater than ($ capitalization threshold) based on the historical cost include:  long-lived assets obtained or controlled as a result of past transactions, events or circumstances.  Capital assets include buildings, construction in progress, improvements other than facilities, land, machinery and equipment, and intangible assets.

Capitalization policy - the criteria used by the school district to determine which capital assets will be reported as capital assets on the school district’s financial statements and records

Capitalization threshold - The dollar value at which a government elects to capitalize tangible or intangible assets that are used in operations and that have initial useful lives extending beyond a single reporting period.

Capitalized interest - interest accrued and reported as part of the cost of the capital assets during the construction phase of a capital project.  The construction phase extends from the initiation of pre-construction activities until the time the asset is placed in service.  

Construction in progress - buildings in the process of being constructed other than infrastructure.

Cost - the amount of money or other consideration exchanged for goods or services.

Depreciation/Amortization - expiration in the service life of capital assets, other than wasting assets, attributable to wear and tear, deterioration, action of the physical elements, inadequacy and obsolescence.  In accounting for depreciation/amortization, the cost of a capital asset, less any salvage value, is prorated over the estimated service life of such an asset, and each period is charged with a portion of such cost.

Fixtures - attachments to buildings that are not intended to be removed and cannot be removed without damage to the buildings.  Those fixtures with a useful life presumed to be as long as that of the building itself are considered a part of the building.  Other fixtures are classified as machinery and equipment. 

General capital assets - capital assets that are not capital assets of any fund, but of the governmental unit as a whole.  Most often these capital assets arise from the expenditure of the financial resources of governmental funds.

General capital assets account group (GFAAG) - a self-balancing group of accounts established to account for capital assets of the school district, not accounted for through specific proprietary funds.

Government activities – activities generally financed through taxes, intergovernmental revenues, and other non-exchange revenues.  These activities are usually reported in governmental funds and internal service funds.

Government-wide financial statements – Financial statements that incorporate all of a government's governmental and business-type activities, as well as its nonfiduciary component units.  There are two basic government-wide financial statements the statement of net assets and the statement of activities.  Both basic government-wide financial statements are presented using the economic resources measurement focus and the accrual basis of accounting.

Historical (acquisition) cost - the actual costs expended to place a capital asset into service.  For land and buildings, costs such as legal fees, recording fees, surveying fees, architect fees and similar fees are included in the historical cost.  For machinery and equipment, costs such as freight and installation fees and similar fees are included in the historical cost.

Improvements – In addition made to, or change made in, a capital asset, other than maintenance, to prolong its life or to increase the efficiency or capacity.  The cost of the addition or change is added to the book value of the asset.

Improvements other than buildings - attachments or annexation to land that are intended to remain so attached or annexed, such as sidewalks, trees, drives, tunnels, drains and sewers.  Sidewalks, curbing, sewers and highways are sometimes referred to as "betterments," but the term "improvements" is preferred.

Infrastructure – long-lived capital assets that normally are stationary in nature and normally can be preserved for a significantly greater number of years than most capital assets.  Examples of infrastructure assets include; roads, bridges, tunnels, drainage systems, tater and sewer systems, dams, and lighting systems.

Investment in general capital assets - an account in the GFAAG representing the school district's investment in general capital assets. The balance in this account generally is subdivided according to the source of the monies that finance the capital assets addition/acquisition, such as general fund revenues and special assessments. 

Land and buildings - real property owned by the school district.

Machinery and equipment - capital assets which maintain their identity when removed from their location and are not changed materially or consumed immediately (e.g., within one year) by use.  Machinery and equipment are often divided into specific categories such as:  transportation machinery and equipment which includes school buses and school district owned automobiles, trucks and vans; other motor machinery and equipment which includes lawn maintenance machinery and equipment, tractors, motorized carts, maintenance machinery and equipment, etc.; other machinery and equipment which includes furniture and machinery and equipment contained in the buildings whose original cost is equal to or greater than ($ capitalization threshold), and capital assets under capital leases and capital assets being acquired under a lease/purchase agreement.

Proprietary funds – Funds that focus on the determination of operating income, changes in net assets (or cost recovery), financial position, and cash flows.  There are two different types of proprietary funds:  enterprise funds and internal service funds.

Replacement cost - the amount of cash or other consideration required today to obtain the same capital assets or its equivalent.

 

# 671579

Code No. 706.1

INSURANCE PROGRAM MAINTAINED

 

 

Property Insurance.  The District shall maintain a comprehensive insurance program that will provide adequate coverage in the event of loss or damage to the District's buildings or equipment.  The District will purchase insurance at replacement values when possible, after reviewing the costs and availability of such insurance.  Insurance of buildings, structures, or property in the open will not generally be purchased to cover loss exposure below $1,000, unless such insurance is required by statute or contract.

Liability Insurance.  The District shall maintain general comprehensive liability and errors and omissions insurance coverage for the District, the Board of Directors, and all employees acting within the scope of their assigned duties.

Workers’ Compensation.  The District shall maintain workers’ compensation coverage under the statutes of the State of Iowa.

Review.  The Board of Directors shall review the insurance programs of the District at least once every three years, to insure adequate coverage.

 

Date of Review:  April 9, 2018

 

Date of Revision:       August 13, 2012

Legal References:   Chapter 85, 279.8, 279.12, 279.28, 280.14, 285.5(6),   285.10(6), 296.7, 517A.1, 670.7, Code of Iowa

886144

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 707.1

 

SCHOOL MEAL PROGRAM OBJECTIVES

 

The District will operate a school breakfast and lunch program in each attendance center.  The program shall include meals, milk, and supplementary foods which may be purchased.

The objectives of the school meal program are to provide nutritional, balanced meals to students and staff of the District on a nonprofit basis at a reasonable cost to enhance the learning and performance of the students and staff.  The meal program may assist in teaching good nutrition habits.  The District's meal program shall be operated in accordance with federal and state laws, rules and regulations to qualify it for financial assistance.  The Superintendent or designee is responsible for ensuring compliance with federal suspension and disbarment requirements.

The school meal program shall be operated under the direction of the Superintendent and the Manager of Food Services.

It is the goal of the Board of Directors that the school meal program be financially self-supporting.  General fund and schoolhouse fund monies may be used to subsidize the operations of the school meal program upon approval of the Board of Directors.  The Board will set prices for school meals and milk programs.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Date of Review:  April 9, 2018

 

Date of Revision: September 17, 2018                01520618

Legal References:   National School Lunch and Child Nutrition Acts, 42 U.S.C. § 1751, et.seq. 7 CFR Parts 210-245; Health, Hunger-Free Kids Act, Public Law 111-296; Chapter 283A, 298A.11, Code of Iowa; 281 I.A.C. Chapter 58

 

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

 

Code No. 707.2

SCHOOL MEAL PROGRAM FEES AND CHARGES

The Board of Directors shall establish fees and charges for the utilization of the school meal program.  Free or reduced-priced meals shall be provided to those students whose parents or guardians are unable to pay the full cost of the meals subject to federal and state laws and rules and regulations.  The income guidelines and the procedures for applying for free and reduced-priced meals shall be publicly announced at the beginning of each school year.  There shall be no physical segregation of or other discrimination against any child eligible for a free or reduced-priced meal nor shall there be any identification of any eligible student by special meal tickets or announced or published lists of names.  The names of students receiving free or reduced-priced meals shall not be made known to any person except such staff members as needed to make arrangements for the students.

 

Date of Revision: April 9,  2018

Legal References:   National School Lunch and Child Nutrition Acts,          42 U.S.C. § 1751 et. seq.; 7 CFR Part 245; Chapter 283A, Code of Iowa; 281 I.A.C. Chapter 58

01462806     DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

 

Code No. 707.3

VENDING MACHINES

 

The Superintendent shall have discretion to determine if vending machines should be made available to students.  However, vending machines shall not be available to students during the lunch period.  Food sold in vending machines will meet nutritional standards established by federal and/or state law.  The principal shall make rules for access to the machines.  Profits from operating student vending machines shall be attributed to student activity accounts as determined by the Superintendent.

Date of Review:  April 9, 2018

 

Date of Revision:    August 13, 2012

Legal References: Healthy, Hunger-Free Kids Act, Public Law 111-296;   279.8, 298A.8, Code of Iowa; 281 I.A.C. Chapter 58

885967

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

 

Code No. 707.4

Decorah Community School District
Food Service Negative Balance Policy

The Decorah Community School Food Service Department is a self-operating program.  The district provides a breakfast and lunch Food Service Program for students to support healthy lifestyles and a balanced diet in accordance with law.

In order to maintain financial stability and equality of all students and staff paying for meals, the district must adopt a policy regarding meal accounts and balances.

The State of Iowa Bureau of Nutrition and Health Services recommends that negative account balances should not occur.

Each student has a computerized meal account.  Parents/guardians can pre-pay money into the student’s meal account.  Parents/guardians are responsible for monitoring the student’s account balance and depositing money into the account to ensure the student is able to purchase a meal if desired.  To ensure positive account balances, student accounts may not exceed a specified negative balance amount, which will be determined by the district on an annual basis.   When the negative charge limit is reached, the school district will notify parents/guardians.  Any student accounts below the district negative balance amount will not be allowed to charge a breakfast or lunch until the account has a positive balance.   If the student account balance is zero or negative, a la carte items may not be charged.  Parents/guardians of students with accounts in arrears will be asked to send a meal from home or an alternate meal with milk may be given to the student, until the account is paid in full or a payment schedule is arranged with the school and adhered to by the parents/guardians.

Middle school and high school students are notified of low meal account balances daily at the register.  Email notices are sent to parents/guardians regarding balances once the account reaches a positive $5.55 per individual or less which is set by the lunch system. Parents have the ability to set a higher limit if they wish.  Additionally, weekly notices of low meal account balances are sent home with elementary school students. 

The school district or an authorized third party may collect on delinquent meal accounts by exercising any and all remedies available in accordance with law.  Parents/guardians who fail to make payments for charges incurred on student meal accounts may be taken to Small Claims Court in order for the school district to recover the fees owed and other costs associated with the collection. 

 

This policy does not apply to any fees waived under an application for free or reduced price meals.

 

Date of Adoption:                                                       Legal References:

 

June 20, 2016                                                              42 U.S.C. 1758, as amended by Section 204

                                                                                    of the Healthy, Hunger-Free Kids Act of 2010,

                                                                                                                              P.L. 111-296; 281 Iowa Administrative Code 58

 

01252622

Code No. 708.1

STUDENT SCHOOL TRANSPORTATION ELIGIBILITY AND ROUTES

 

 

Eligibility.  The following students are eligible for District-provided transportation to and from school:

1. Resident students enrolled in District schools in grades kindergarten through eight who reside more than two miles from their attendance centers.
2. Resident students enrolled in District schools in grades nine through twelve who reside more than three miles from their attendance centers.
3. Resident students enrolled in District schools who live less than these distances from their attendance centers, if approved by the Superintendent because of safety or other good reasons.  In such cases, the District may charge the parents or guardians the pro rata cost of the transportation.
4. Resident students enrolled in nonpublic schools on the same distance basis, provided the District may contract with other agencies to provide the transportation.
5. Resident students assigned to special education classes or other programs outside of the building attendance area in which they reside or whose individualized education programs ("IEP") designate transportation as a related service.  Transportation to and from a special education support service shall be provided if specified in the IEP.

1. Resident students attending public school in another district contiguous to the Decorah District pursuant to the Open Enrollment Act may be transported to a stop in the other district if the student meets the economic eligibility requirements established by the Department of Education.
2. Nonresident students attending District schools pursuant to the Open Enrollment Act may be transported to school from a stop within the Decorah District and from school to a stop within the Decorah District or may be picked up or dropped in another district with approval of the other District if it's on a regular route.

Reimbursements.  Parents and guardians may be reimbursed for transportation in amounts set by state law in lieu of District-provided transportation for their children.  For students receiving transportation pursuant to their IEP's, there must be mutual agreement for the reimbursement in lieu of District-provided transportation.

Loading and Unloading Points.  Resident students may be required to load or unload at points of not to exceed three-fourths of a mile from the students' residences.  Buses shall not leave public roads to receive or discharge students except for safety reasons or if the private road is maintained in the same manner as a public road and in accordance with directives established by the Superintendent.

Measurement.  Distances to school or to a bus route shall be measured on the public highway only, starting in the roadway opposite the private entrance to the residence of the student and ending in the roadway opposite the entrance to the school grounds or designated point on the bus route.​

School Vehicle Routes.  It shall be the responsibility of the Manager of Transportation to develop and/or review school vehicle routes annually keeping in mind the safety of the students, the seating capacity of the vehicles, the length of the route, the cost to the District, and other factors as deemed relevant by the Manager of Transportation.  Routes may be adjusted as necessary.  The Manager of Transportation shall also develop emergency school vehicle routes that may be necessary due to weather or other conditions.

 

Date of Review:  April 9, 2018

 

Date of Revision: April 9, 2018

Legal References:   256B.2, 279.8, 279.11, 282.18, Chapter 285, Chapter    321, Code of Iowa; 281 I.A.C. 17.9, 41.412; Chapter    43, Chapter 44; 41 U.S.C. 8101-8106; 42 U.S.C.          §12111 et seq.; 49 U.S.C. 5301 et seq.; 49 C.F.R. pt. 40

01462810

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 708.2

STUDENT TRANSPORTATION FOR EXTRA-CURRICULAR ACTIVITIES

 

The Board in its discretion may provide District transportation to students for extracurricular activities.  Students participating in extracurricular events, other than those held at the school district facilities, shall be transported to the extracurricular event by school transportation vehicles, with a qualified driver, or by another means approved by the administration. 

Students who are provided school-sponsored transportation for extracurricular events shall ride both to and from any event in the school vehicle.  Parents may request an exception to this rule only if it is submitted in advance in writing to the activities director.  The activities director or building principal will review and approve the request by signing and dating it.  The student (athlete/participant) must return the written request to the coach/sponsor in advance of the trip.

 

Date of Review:  April 9, 2018

 

Date of Revision:   August 13, 2012

Legal References:   279.8, Chapter 285, Code of Iowa; 281 I.A.C.              Chapter 43, Chapter 44

01435295

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 708.3

TRANSPORTATION EQUIPMENT

 

The District shall purchase transportation vehicles which meet the requirements of the Board and of the State of Iowa.  Transportation vehicles shall be inspected by the State Department of Education.  Vehicles shall be routinely maintained according to a maintenance schedule developed by the Manager of Transportation.

It shall be the responsibility of the Manager of Transportation to arrange for the inspection of the school district transportation vehicles and to develop a program for routine maintenance of District vehicles in compliance with state law.

 

Date of Review:  April 9, 2018

 

Date of Revision:    August 13, 2012

Legal References:   279.8, Chapter 285, Code of Iowa; 281 I.A.C.              Chapter 43, Chapter 44

885971

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 708.4

SCHOOL VEHICLE SAFETY INSTRUCTION

The District shall conduct school vehicle safe riding practices instruction and emergency safety drills twice a year for students who utilize school district transportation.  Each school vehicle shall have, in addition to the regular emergency safety drill, a plan for helping those students who require special assistance to safety during an emergency.  This shall include, but not be limited to, disabled students.  School district vehicle drivers are required to participate in these emergency safety drills.

 

Date of Review:  April 9, 2018

 

Date of Revision: June 16, 2003                            543424

Legal References:   279.8, Chapter 285, Code of Iowa; 281 I.A.C.              Chapter 43, Chapter 44

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 708.5

TRANSPORTATION IN INCLEMENT WEATHER

 

School district vehicles will not operate when weather conditions due to fog, rain, snow or other natural elements make it unsafe to do so.  Because weather conditions may vary around the District and may change quickly, decisions will be based on the most recent and accurate information available.

The final judgment as to when conditions are unsafe to operate will be made by the Superintendent.  The Superintendent will be assisted by the Manager of Transportation.

Students, parents/guardians and the community will be notified by commercial radio and/or TV when school is cancelled or temporarily delayed.  It may be possible that on some occasions the entire District may not be affected by the delays, when weather conditions may vary in different locations.  When school is cancelled because of weather any where in the District, all schools will be closed.

When weather conditions deteriorate during the day after school has begun, students will be returned to their designated drop-off points.

When weather conditions create a situation where the driver has less than 300 feet of visibility at a stop, the driver should immediately report the situation by bus radio for instructions.  If a decision is made not to receive the students at the stop, a telephone call shall be made to the parents.  If the students cannot be picked up, it shall then be the parents' decision on whether to send the students to school and the parents' responsibility to transport the students.  If the students cannot be discharged at the stop, the parents shall be informed of where the students shall be discharged; if the parents cannot be reached, the students shall be transported back to the school.  Once vehicles are on the road, the drivers are to use their judgment whether to stop at a particular stop, keeping utmost in mind the safety and well-being of their passengers.

Date of Review:  April 9, 2018

 

Date of Revision:    August 13, 2012

Legal References:   279.8, Chapter 285, Code of Iowa; 281 I.A.C.              Chapter 43, Chapter 44

 

886148

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

Code No. 708.6

TRANSPORTATION DRIVERS

 

School vehicles shall be driven only by persons holding proper driving certificates, licenses and permits from the Iowa Department of Education and the Iowa Department of Transportation.  Drivers must have sufficient physical capability to operate the vehicle effectively and to render assistance to passengers in case of illness or injury and must comply with all drug and alcohol testing procedures. All drivers must have completed safe driving instruction offered by the Department of Education within six months of date of hire and every twenty-four months thereafter.  Drivers are subject to a background check upon hire and again after every five (5) years.  Drivers must be insurable under the District's liability coverage. 

 

Drivers shall comply with all state driving laws and with rules and regulations of the Department of Education and of the District.  All drivers shall report to the Manager of Transportation or to his/her designee any vehicle which fails to stop for a bus when warning lights are flashing and the stop arm extended.  District officials shall report said violations to law enforcement officials.

 

Date of Review:  April 9, 2018

 

Date of Revision:   April  9, 2018

Legal References:   279.8, Chapter 285, Chapter 321, Code of Iowa; 281     I.A.C. Chapter 43; 41 U.S.C. §8103; 42 U.S.C.             §12111 et seq.; 49 U.S.C. 5301 et seq.; 49 C.F.R. Part 40, 49 C.F.R. 382

01462815

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS

 

Code No. 708.7

TRANSPORTATION COMPLAINTS

 

Complaints by a student, parent or guardian regarding transportation shall be brought under the student complaint procedure.  Appeals may be taken to the Area Education Agency pursuant to law.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Date of Review:  April 9, 2018

 

Date of Revision:   June 16, 2003

Legal References:   285.12, Chapter 290, Code of Iowa

00543427

 

DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS