MJUSD
DIVISION 3000
BUSINESS AND NONINSTRUCTIONAL OPERATIONS

MANAGEMENT OF DISTRICT ASSETS/ACCOUNTS

In order to oversee the District's financial integrity, the Governing Board desires to have a clear picture of the District's current financial condition readily available at all times. Audits and quality control reviews shall be conducted in accordance with law.

The District's accounting system shall provide ongoing internal controls and a means of ascertaining that the District's income and expenditures are in keeping with the adopted budget.

Legal Reference:

Education Code
14500-14508 Financial and compliance audits, especially:
14503 Standards; use of audit guide; independent auditors; quality control reviews
14504.2 Quality control reviews
14505 Withholding percentage of audit fee until certification of conformance to audit guide; appeal
35035 Powers and duties of superintendent
35250 Duty to keep certain records and reports (accurate account of expenditures and receipts)
41010 Accounting system; requirements for Accounting Manual
41011 Accounting system requirements
41012 Uniform cost accounting procedure to determine allowances for handicapped minors
41013 Transfers from district general funds; accounting rules and regulations
41014 Requirement of budgetary accounting
41020 Requirement for annual audit
41020.3 Review of annual audit
41020.5 Audit not in conformance
42600 District budget limitation on expenditures
42601 Transfers between funds to permit payment of obligations at close of year
42603 Transfer of special or restricted fund moneys
42647 Drawing of warrants by district on county treasurer; form; reports, statements and other data

First Reading: 11/8/00

Governing Board Adoption: 1/17/01