3293.12

Policy

Business

Finance

Signatures

Electronic Funds

The Ashland-Greenwood Public Schools may utilize electronic means to debit and credit bank accounts provided that the electronic funds are submitted, approved and accounted for as all other funds are accounted for within the specified fund. Electronic fund claims appearing in financial reports for the board of education shall appear in the same manner and fashion as other claims, including written checks, would appear in the reports prepared for the public and the board of education. All claims whether electronic or in written hard copy form shall be approved by the Board of Education per state statutes and board policies. Nothing within this policy shall diminish the board's practice or policy of reviewing and approving claims.

The Board President may sign any electronic transfer origination agreements, applications or other documents required any financial institutions. The Board of Education authorizes the Superintendent of Schools to sign transmittal registers, transmittal reports or authorizations provided that he/she does not prepare the register, report or authorization. The bank transmittal register or transmittal report and a complete listing of all electronic fund transfer claims shall be presented to the individual responsible for signing drafts per board policy 3293.1.

The person signing drafts shall be presented a list of all transmittal registers and reports (including the complete listing of claims) at the same time other written checks or drafts are presented and shall sign such transmittal registers or reports. If for any reason the person(s) signing drafts is unwilling to sign such a register or report the matter shall be referred to the Board's finance committee for review.

Adopted: September 15, 2003