DG January 2026.pdf (160 KB)

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​Boulder Valley School District​​ ​File: DG​ ​Adopted: Date of manual adoption​ ​Revised: June 22, 2004, June 9, 2009​, February __, 2026​

​BANKING SERVICES​DEPOSITORY OF FUNDS/AUTHORIZED SIGNATURES​ ​All monies received by the​​School​​District shall be deposited in an official bank as​ ​designated by the Board. Such financial institution must qualify as an eligible public​ ​depository in accordance with state law.​ ​The Accounting Services Department will review all banking arrangements annually and​ ​will seek competitive bids for banking services every five years.​ ​When monies are withdrawn from the custody of the County Treasurer, such withdrawn​ ​monies​​and all other moneys belonging to the School District including moneys derived​ ​from food services and school activities​​shall be deposited by the Treasurer of the​ ​Board or official custodian to the credit of the School District in a depository designated​ ​by the Board.​ ​The Treasurer or official custodian shall comply with all requirements of state law​ ​regarding the deposit of School District funds.​ ​Revenues from a tax levy for the purposes of satisfying bonded indebtedness​ ​obligations shall be administered by a commercial bank or depository trust company​ l​ocated in Colorado that meets the requirements set forth in state law​​or shall be placed​ i​n an escrow account that meets the requirements set forth in state law.​.​ ​Checks written on all School District funds authorized by the Board,​​except student​ ​activity funds,​​will require the facsimile signature of the Treasurer of the Board. The use​ ​of the facsimile signature must conform to the present state statutes. It is the practice of​ ​the Board to adopt the required resolution and complete the required "consent to use​ ​facsimile signature" form at the Board's annual organizational meeting.​ ​Checks drawn on the various student activity funds require the signature of the Principal​ ​or Assistant Principal at the school. Monies of the school activity accounts will be​ ​deposited in a designated bank located within the District. This financial institution must​ ​qualify as an eligible public depository in accordance with state law.​¶​ ​REFS.:​ ​C.R.S.​​11-10.5-101​​et seq. (Public Deposit Protection Act)​ ​C.R.S.​​11-47-101​​et seq. (Savings and Loan Association Public Deposit Protection Act)​ ​C.R.S.​​22-32-104​​(4)(c) (board may appoint custodian of moneys)​ ​C.R.S.​​22-32-107​​(3), (4), (6) (board treasurer duties)​ ​Page​​1​​of​​2​

​C.R.S. § 22-32-109(1)(g) (​Board of education-district duties-custody of monies)​ ​C.R.S. § 22-32-110(1)(x) (​specific powers-custody of monies)​ ​C.R.S. § 22-32-121 (​facsimile signature)​ ​C.R.S. § 22-40-104 (​relates to county treasurer​)​ ​C.R.S. § 22-40-105 (​tax levies and revenues-depositories)​ ​C.R.S. §​​22-45-103​​(bond redemption fund trustee or escrow requirement)​ ​C.R.S. § 22-45-104 through -106 (​accounting and reporting)​

​End of File: DG​

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