FISCAL RESPONSIBILITY

 

The Board acknowledges its fiduciary responsibility for funds received by the district.  Board members, staff and others who have a business relationship with the Raymondville R-VII School District will act with integrity, diligence and professionalism in matters involving the fiscal resources of the district.

 

Audit Committee

 

An internal audit committee will be established in accordance with Board policy.  Members of the committee will be appointed annually by the Board.  No person may serve more than two (2) consecutive terms on the internal audit committee.  The audit committee will have at least one (1) teacher and one (1) building-level administrator as members.  The duties of this committee include:

 

1.         Making recommendations to the Board regarding the selection of an accounting firm to conduct the annual district audit.

 

2.         Receiving reports of alleged financial misconduct from employees, students and members of the public.  All such reports will be forwarded to the superintendent or, if not appropriate, the Board president.

 

3.         Reviewing Board-adopted ethics and conflict of interest policies and monitoring adherence to those policies by Board members and staff as they relate to fiscal matters.

 

4.         Reviewing administrative procedures relating to purchasing, payment, management of funds received by grants, and control of receipts from student activities and fundraisers.  Any recommendations for improving these procedures will be forwarded to the superintendent.

 

The internal audit committee will operate in accordance with the Missouri Sunshine Law.

 

Prohibited Activity

 

No person will be permitted to alter, destroy, mutilate, conceal, cover up or falsify any record or document with the intent to impede, obstruct or influence an investigation pursuant to this policy.

 

All district employees who have a reasonable cause to suspect fraud or theft must report that suspicion to a member of the audit committee immediately.  Reports will be kept confidential to the extent allowed by law.

 

 

No Board member or employee of the district will take adverse employment action against any individual who, in good faith, reports suspected fraud or financial misconduct to the audit committee.  No Board member or employee of the district will retaliate against any individual for providing truthful information to law enforcement regarding alleged financial misconduct.

 

Students who, in good faith, report suspected fraud or financial misconduct to the audit committee will not be disciplined or penalized for making such a report.

 

Employees who violate any portion of this policy are subject to discipline up to and including termination and referral for prosecution when appropriate.

 

* * * * * * *

 

 

Note:   The reader is encouraged to check the index located at the beginning of this section for other pertinent policies and to review administrative procedures and/or forms for related information.

 

Adopted:          12-10-07

 

Revised:

 

Cross Refs:       BBF, School Board Member Ethics

BBFA, Board Member Conflict of Interest and Financial Disclosure

BCE, Board Committees/Advisory Committees to the Board

GBCA, Staff Conflict of Interest

 

Raymondville R-VII School District, Raymondville, Missouri