Arizona Laws 15-1101. Revolving funds; purpose and manner of procuring
A. If the activities of a school district require immediate cash outlays for items including postage, freight, express, fuel taxes, parcel post, travel or other minor disbursements but not including salaries or wages, which are proper as ultimate claims for payment from school district school funds, the governing board, or the superintendent or chief administrative officer with the approval of the governing board, may apply to the county school superintendent to establish and maintain a revolving fund. The allowable amount of the fund shall be fifty cents per student count, except that for a common school district or high school district, at the request of the governing board, or the superintendent or chief administrative officer with the approval of the governing board, the fund may be increased to an amount of five thousand dollars, but in no event shall the amount of the fund be more than ten thousand dollars, and for a unified school district, at the request of the governing board, or the superintendent or chief administrative officer with the approval of the governing board, the fund may be increased to an amount of ten thousand dollars, but in no event shall the amount of the fund be more than twenty thousand dollars. The application shall state the purposes for which the fund is required and the amount deemed necessary and shall designate the particular official of the school district who shall be the custodian of and be charged with the handling and accounting for the fund.
Terms Used In Arizona Laws 15-1101
- Common school district: means a political subdivision of this state offering instruction to students in programs for preschool children with disabilities and kindergarten programs and either:
(a) Grades one through eight. See Arizona Laws 15-901
- Governing board: means a body organized for the government and management of the schools within a school district or a county school superintendent in the conduct of an accommodation school. See Arizona Laws 15-101
- High school district: means a political subdivision of this state offering instruction to students for grades nine through twelve or that portion of the budget of a common school district that is allocated to teaching high school subjects with permission of the state board of education. See Arizona Laws 15-901
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Minor: means a person under eighteen years of age. See Arizona Laws 1-215
- Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
- School district: means a political subdivision of this state with geographic boundaries organized for the purpose of the administration, support and maintenance of the public schools or an accommodation school. See Arizona Laws 15-101
- Student count: means average daily membership as prescribed in this subsection for the fiscal year before the current year, except that for the purpose of budget preparation student count means average daily membership as prescribed in this subsection for the current year. See Arizona Laws 15-901
- Unified school district: means a political subdivision of this state offering instruction to students in programs for preschool children with disabilities and kindergarten programs and grades one through twelve. See Arizona Laws 15-901
B. The county school superintendent may allow such application, draw a warrant to the order of the designated custodian and charge the amount against the school district fund, but no revolving fund shall be established unless the designated custodian is bonded for an amount equal to twice the amount of the fund. The cost of the bond shall be a proper charge against the school district.
C. The designated custodian shall periodically submit a voucher with supporting papers covering disbursements from the revolving fund to the county school superintendent who shall issue a warrant for the voucher to reimburse the fund. If the school district is dissolved, consolidated, unified or subdivided, or if the governing board, or the superintendent or chief administrative officer with the approval of the governing board, decides to terminate the revolving fund, the designated employee shall return the original amount of the revolving fund to the county treasurer by the date that the dissolution, consolidation, unification or subdivision of the district becomes effective or within thirty days after the date that the governing board decides to terminate the revolving fund, whichever is appropriate.