DI Redline Dec 9.pdf (115 KB)

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​Boulder Valley School District​​ ​File: DI​ ​Adopted: prior to 1978​ ​Revised: April 13, 2004, June 9, 2009​, January __, 2026​

​FISCAL​​ACCOUNTING AND​​INVENTORYING​​REPORTING​¶​ ​The Superintendent shall be responsible for properly accounting for all funds​​and​ ​assets​​of the District.​ ​All funds received and/or disbursed by any agency of the school system including​ ​any and all School District transactions shall be accounted for carefully and​ ​accurately; shall conform with generally accepted principles of governmental​ ​accounting providing for the appropriate separation of accounts, funds and​ ​special moneys, and shall be done in a manner that is easily reviewed and lends​ i​tself to auditing.​ ​When accounting for any enterprise funds the district shall use the full accrual​ ​basis of accounting.​ ​The accounting system used shall conform with the requirements of the State​ ​Board of Education and with generally accepted accounting principles.​​¶​ ​In accordance with C.R.S. § 22-45-102, the Board will review financial​ ​statements on a quarterly basis.​ ​Fiscal accounting and reporting must meet requirements established by the State​ ​Board of Education as set forth in the Financial Policies and Procedures​ ​Handbook for public schools in Colorado. (C.R.S. §§​​22-44-203 and 22-44-204)​ ​The Superintendent, or designee, is responsible for maintaining a system for​ ​the accounting of all capital assets and for the​ ​The Superintendent, or​ ​designee, will cause an​​annual inventory of​​capital​​all assets above the cost​ ​threshold established by the Board or otherwise as established in the rules of​ ​the State Controller.​ ​Capital assets are those assets that have a unit cost of $10,000 or more,​ ​except for major capital outlays for buildings and improvements that shall​ ​have a total cost greater than $50,000.​ ​The net book value of all​​capital​​inventoried assets of the School District will be​ i​ncluded in the School District’s government-wide financial statements.​

​LEGAL REFS.:​ ​C.R.S. §​​22-44-103​​(specifying enterprise funds accounting​​methods)​ ​C.R.S. §§​​22-44-203, 204 (requiring compliance with​​requirements established​ ​by the State Board of Education in the Financial Policies and Procedures​ ​Handbook)​ ​C.R.S. §​​22-45-102​​(requirements for budgeting and​​accounting)​ ​C.R.S. § 29-1-506 (requiring continuing inventory by local government)​ ​End of File: DI​