POLICY MANUAL - Calhoun County Schools

3. Do not pay from statements; request original itemized bills. Have a bill tosupport every check written.4. A separate account should be set up for “change cash”. Efforts should bemade to redeposit the change to the “cash in bank” account in a timelymanner.5. Funds shall not be transferred from one account to another through borrowingor otherwise, except as specifically authorized in writing by the Principal oractivity sponsor.6. Inactive earmarked accounts in individual schools which no longer serve thepurpose for which said accounts were established shall be transferred by theprincipal to the general fund. Monthly financial reports shall indicate whenand how such accounts have been closed.7. Post all transactions, deposits, receipts, checks, etc. on a daily basis. Allfunds collected should be deposited in the bank daily.8. An accurate, up to date, accounts payable subsidiary ledger shall bemaintained on all invoices which are not paid as of each month end.Bid PurchasesAll purchases involving funds that are subject to bid and where the cost equals orexceeds $15,000 are to comply with the State Competitive Bid Law and the PublicWorks Act 97-225. The bid process must be handled by the Central Office and shallinvolve Board action. Any exceptions must have approval of Superintendent or ChiefSchool Financial Officer.All purchases subject to bid shall:1. Have specifications sent to no less than three (3) or as many suppliersas may request to quote on items up for purchase.2. Request for bid must specify a place, date, and time that bids will bepublicly opened and read.3. Low bidder shall be awarded the order, unless it is proven inferior toquality specified, and shall be approved by the Board.At no time shall purchases be broken up with the intent of avoiding the formalbidding process. This practice is specifically mentioned as a violation of the State BidLaw.