The Superintendent shall not cause or allow any fiscal condition that is inconsistent with achieving the Board’s District Priorities policies, disregards the Board’s ultimate authority to determine financial matters of the district, places the long-term financial health of the district in jeopardy or causes a material deviation in spending from the annual budget or budget policy adopted by the Board with respect to the actual, ongoing condition of the district’s financial health.
Accordingly, the Superintendent shall:
1. Not expend more funds than have been received in the fiscal year to date unless authorized by the Board through use of reserves or unless revenues are made available through other legal means.
2. Not expend funds beyond amounts set forth in the budget without the Board’s approval.
3. Settle payroll and debts in a timely manner.
4. Not allow reports or filings required by any state or federal agency to be overdue or inaccurately filed.
5. Arrange for the annual audit of all district funds and accounts following the close of the fiscal year in accordance with state law.
6. Seek all customary and pursue receivables after a reasonable grace period.
7. Keep complete and accurate financial records by funds and accounts in accordance with generally recognized principles of governmental accounting.
8. Appropriately seek all federal and state funds to which the district is or may be entitled and report to the board accordingly.
9. Seek any loan only with approval of the Board.
[ Revised December 2020]
LAKE COUNTY SCHOOL DISTRICT R-1, LEADVILLE, COLORADO