As used in this policy, the term “Student Trust Fund” includes all moneys received by any School employee designated for use on behalf of a specific student.
The Superintendent shall establish procedures for the security, safeguard and management of the moneys in the Student Trust Fund.
Such procedures shall include the requirement that:
- all moneys received in accordance with this policy shall be deposited into the Student Trust Fund within a reasonable amount of time after receipt;
- that the withdrawal of all moneys in the Student Trust Fund be accounted for;
- that moneys withdrawn but not expended be adequately safeguarded;
- that the purpose for which the moneys were expended is adequately documented; and
- that an accounting record of all moneys deposited to and withdrawn from the Student Trust Fund, any money withdrawn but not expended and the purpose for which the moneys were expended be available for inspection by the student, parents and/or guardians upon request.