Obion County Board of Education
January 11, 2010
Agenda Item: VII.E.

Consider/Approve Amendment to Board Policy #2.400 – Revenues

Background Information:

In reviewing policy, Board Policy #2.400 – Revenues – may need revising.

In the second paragraph, line 7, the phrase “from lunch rooms” should be struck since the System utilizes a Central Cafeteria Fund, and all funds received through the school cafeterias are ultimately remitted to the Central Office for accounting through the Central Cafeteria Fund.

Under the heading “Fines,” the second sentence should be struck and replaced with

All funds collected for lost or damaged textbooks, equipment, and buildings shall be remitted to the Central Office for accounting through the General Purpose School Fund. All funds collected for lost or damaged library books, including fines, shall be receipted and accounted for through the individual school’s library restricted account. The school principal shall ensure that all funds placed in the library restricted account for lost or damaged library books, including fines, is expended to purchase new and/or additional library books. All funds collected for fines shall be receipted and accounted for through the individual school’s general activity fund.

Under the heading “Tuition Income,” for clarity purposes, this sentence should be struck and replaced with

Tuition collected for nonresident students shall be remitted to the Central Office for accounting through the General Purpose School Fund.

Staff Recommendation:

I recommend that the Board approve the amendment to Board Policy #2.400 – Revenues – on first reading.