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2018 Code of Alabama
Title 16 - EDUCATION.
Chapter 13A - SCHOOL FISCAL ACCOUNTABILITY.
Section 16-13A-1 - Fiscal management policies.
Universal Citation: AL Code § 16-13A-1 (2018)
Section 16-13A-1Fiscal management policies.
A local board of education, to ensure the sound fiscal management of board finances, upon the recommendation of the local superintendent of education, shall adopt fiscal management policies which comply with generally accepted accounting principles, including, but not limited to, policies related to each of the following:
(1) Regular reconciliation of bank statements.
(2) Maintenance of fixed assets inventory.
(3) Deposit of incoming funds.
(4) Review of monthly revenues and expenditures.
(Act 2006-196, p. 275, §2.)
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