NORTH PENN SCHOOL DISTRICT
School Board Policy
9352
BYLAWS OF THE BOARD
Reference: Board Policy #3600
Methods of Operation
Management of Bank Accounts
The funds of the school district shall be deposited, as directed by the board of school directors, in
any designated bank or banks in the name of the district.
Each depository shall furnish proper bonds or collateral security in conformance with provision of
Sections 6-621 and 6-622, of the Pennsylvania School Code or in conformance with provisions of
Act 72, 1971, “Pledging of Collateral to Secure Public Funds.” No additional bonds, insurance, or
security may be required for certain deposits insured under provisions of the Federal Deposit
Insurance Corporation (FDIC).
Receipts should be deposited with reasonable punctuality. Whenever balances are available, the
board shall authorize temporary legal investments according to board policy #3600
Payments shall be made on approval of the board of school directors. Payments may be made
without approval of the board first having been secured, for the payment of amounts owing under
any contracts which shall previously have been approved by the board, and by the prompt payment
of which the district will receive a discount or other advantage.
Policy
Adopted:
Amended:
Reviewed:
Amended:
BOARD POLICY 9352
9/24/09 srk January 20, 1972
June 21, 1979
February 10, 1992
September 24, 2009