Section D
Page Navigation
- Policies by Section
- DA: Fiscal Management Goals
- DB: Annual Budget and Appropriations
- DBD: Budget Planning
- DD: Funding Proposals and Applications
- DE: Revenue from Tax Sources
- DFA: Revenues from Investment
- DGA: Authorized Signatures
- DH: Bonded Employees and Officers
- DI: Fiscal Accounting and Reporting
- DIB: Types of Funds
- DID: Inventories
- DIE: Audits
- DJ: Purchasing Objectives
- DJB: Petty Cash Accounts
- DJC: Bidding Requirements
- DJCD: Bonding Requirements
- DJF: Purchasing Procedures
- DJH: Credit Cards
- DK: Payment Procedures
- DLC: Expense Reimbursements for District Personnel and Board Members
- DM: Cash in School Buildings
- DN: Property Disposal
- DO: Use of Public Funds To Provide Non-Salary Benefits
- Cleveland Metropolitan School District
- DIB: Types of Funds
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DIB: Types of Funds
Policy
A fund is defined as a fiscal and accounting entity with a self-balancing set of accounts. The transactions of each fund are reflected separately from the activities reported in other funds for the purpose of attaining certain objectives in accordance with legal restrictions or other limitations.
Under Ohio Revised Code and Generally Accepted Accounting Principles, the District is required to maintain certain types of funds. These fund types are defined in the Uniform School Accounting System, issued by the State of Ohio Auditor of State.
The District’s Chief Financial Officer is responsible for establishing and maintaining the funds and ensuring that each fund is managed in accordance with all applicable laws and operating requirements.
History
- Adopted: May 16, 2002
- Reviewed: December 17, 2019
Legal References
