704.3 Investments
School district funds in excess of current needs are invested in compliance with this policy. The goals of the school district's investment portfolio in order of priority are:
School district funds in excess of current needs are invested in compliance with this policy. The goals of the school district's investment portfolio in order of priority are:
The board believes gifts, grants, and bequests to the school district may be accepted when they will further the interests of the school district.
The board, a board member or the superintendent may accept the gift on behalf of the school district. Gifts, grants, and bequests once accepted on behalf of the school district become the property of the school district. Gifts, grants, and bequests are administered in accordance with terms, if any, agreed to by the board.
The board supports economic development in Iowa. Purchases by the school district will be made in Iowa for Iowa goods and services from a locally-owned business located within the school district or from an Iowa-based company which offers these goods or services, if the cost and other considerations are relatively equal and they meet the required specifications.
Generally, the school district will not purchase items on behalf of employees. The school district may in unusual and unique circumstances do so. It is within the discretion of the board to determine when unique and unusual circumstances exist.
No purchase is made unless the employee has paid the school district prior to the order being placed and the employee has agreed to be responsible for any taxes or other expenses due.
Legal Reference: Iowa Code § 279.8.
Cross Reference: 703 Budget
The board authorizes the issuance payment of claims against the school district for goods and services. The board will allow the payment after the goods and services have been received and accepted in compliance with board policy and the claims audited by the board.
The payroll period for the school district is monthly. Employees are paid on the 20 day of each month. If this day is a holiday, recess, or weekend, the payroll is paid on the last working day prior to the holiday, recess or weekend.
It is the responsibility of the board secretary to issue payroll to employees in compliance with this policy.
To the extent it conflicts with this policy, all employees under contract shall be paid in accordance with the provision of their signed contract.
Legal Reference: Iowa Code §§ 20.9; 91A.2(4), .3.
Each month the schedule of bills allowed by the board is published in a newspaper designated as a newspaper for official publication. Annually, the total salaries paid to employees regularly employed by the school district will also be published in a newspaper designated as a newspaper for official publication.
It is the responsibility of the board secretary to publish these reports in a timely manner.
Legal Reference:
Iowa Code §§ 279.35, .36.
Cross Reference: 206.3 Secretary [or Secretary-Treasurer]
The board will maintain a comprehensive insurance program to provide adequate coverage against major types of risk, loss, or damage, as well as legal liability. The board will purchase insurance at replacement values, when possible, after reviewing the costs and availability of such insurance. The comprehensive insurance program is reviewed once every three years. Insurance will only be purchased through legally licensed Iowa insurance agents.
The school district will operate a school lunch and breakfast program in each attendance center. The school food program services will include hot lunches through participation in the National School Lunch Program and supplementary foods for students during the school day. Students may bring their lunches from home and purchase milk or juice and other incidental items.
The board shall establish fees and charges for the school meal program. Free or reduced-price meals shall be provided to those students whose parents or guardians are unable to pay the full cost of the meal 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 publicy announced at the beginning of each school year.