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Policy committee sends multiple finance, payroll and asset policies to school board
Summary
At its May 6, 2025 meeting the Faribault Public School District policy committee voted to forward several policies to the school board with no changes, including budget modification, annual audit, investments, fund balances, payroll periods and fixed-asset inventory.
Faribault Public School District policy committee members voted May 6 to forward several administrative and financial policies to the full school board with no recommended changes.
The committee approved sending policies covering budget modification (Policy 701.1 as listed in the packet), the annual audit (703), investments (705), fund balances (714), payroll periods (730) and revisions to the fixed-asset inventory/accounting policy (704) for school board consideration. Committee members described these actions as part of the committee’s three-year review rotation and said the policies had been reviewed by district staff and the director responsible for grounds and finance.
Why it matters: forwarding these policies keeps routine fiscal and payroll rules current and ensures the school board has the committee’s…
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