MANAGEMENT OF DISTRICT ASSETS/ACCOUNTS

Authorization of Bank accounts 

Due to operational and internal control requirements it is sometimes necessary to open new bank accounts or close accounts.  The Superintendent or his designee will submit a resolution to the Board authorizing the opening or closing of any new bank accounts during the fiscal year, along with those authorized to act as check signers on such accounts. 

The Superintendent or his designee shall, at the first meeting of each fiscal year, or as soon thereafter as is practical, submit to the Board a resolution authorizing all bank accounts.  Pending such action by the Board the current accounts shall continue to be authorized.

Annual Authorization of Check Signers 

The Superintendent or his designee shall, at the first meeting of each fiscal year, or as soon thereafter as is practical, submit to the Board a resolution authorizing all check signers for each account. Pending such action by the Board the current signers shall continue to be authorized.

Additional Signer for Checks over $25,000 

Checks for over $25,000 will require the signature of two authorized signers, one of which must be an original signature. 

KETCHIKAN GATEWAY BOROUGH SCHOOL DISTRICT
Adoption Date:  8/8/07
Revision Date:  8/14/2013