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Board adopts policy 6,800 to formalize internal controls for school finances
Summary
The board approved policy 6,800, which codifies internal-control responsibilities for the superintendent or designee and requires training for employees handling school funds.
The Warren County School Corporation board approved new policy 6,800, which formalizes internal controls for accounting and handling of school corporation funds.
Dr. Walter Lambert presented the policy at its second reading and summarized its requirements: under the direction of the superintendent or a designee, the school corporation is responsible for proper accounting of all school funds; expenditures must be charged to accounts that accurately describe their purpose; and the superintendent or designee must implement internal-control standards designed to prevent and detect fraud, financial impropriety or fiscal irregularities. The policy also requires training for employees whose duties include receiving, processing, depositing or dispersing extracurricular or school funds.
Board member Mr. Baker urged context before the vote, saying the district already maintains internal controls: "We already have these internal controls in place. Absolutely. We're just putting this policy together because we're supposed to." District staff confirmed the controls are in practice and the policy is a formalization of current procedures.
The motion to approve policy 6,800 passed by voice vote following a motion by Mr. France and a second by Mr. Mosby; individual roll-call votes were not recorded in the minutes.
The policy will require the superintendent’s office to oversee implementation and to ensure training for newly hired employees in positions that touch school funds.
Less immediate details: board members noted the policy codifies existing practices and that audits and routine financial reviews continue.
