Policy 7410 - Fund Accounting System

The accounts of the District are organized on the basis of funds, each of which is considered to be a separate accounting entity. The operations of each fund are accounted for by providing a separate set of self-balancing accounts. The following funds are maintained by the Kimberly School District:

  • General Maintenance and Operations Fund
  • Driver’s Education Fund
  • State Vocational Education Fund
  • Technology Fund
  • Federal Program Fund(s)
  • State Program Fund(s)
  • Food Service Fund
  • Bond and Interest Fund
  • School Plant Facilities Fund
  • Lottery Fund
  • Grant Fund(s)
  • School Fund(s)

All funds shall be audited on an annual basis by an outside accounting firm to be selected by the Kimberly Board of Trustees.

Legal Reference:
I.C. § 33-901 et seq. School Funds
I.C. § 33-701 et seq. Fiscal Affairs of School District

Policy History:
Adopted on: September 16, 2004
Revised on: