Gate receipts from any given school event have the potential to amount to a substantial sum of cash. In consideration of the board policy to limit cash in the vault to $500 at the close of the day, cash receipts should be removed and deposited on the same day of the event whenever possible.
In those instances when same day deposits are impossible, gate receipts are to be locked in the building’s vault until the first (1st) business day when a deposit can be made. The board discourages the individual in charge of collections of the gate receipts from personally holding the receipts except in special circumstances approved by the administration.
The administration shall be responsible for designating the individual(s) who shall be in charge of collecting, counting and depositing the gate receipts. The administration shall provide guidelines to be followed by those chosen to handle the receipts.
Legal Reference: Iowa Code §279.8 (1991)
Cross Reference: 801.2 Depository of Funds
802.1 Cash in School Building
804 Revenues
Approved: 4-23-92
Reviewed: 12-11-23
Revised: 4-14-97
