SECTIONS 42800-42806 - California Statutes

EDUCATION CODE

SECTION 42800-42806

42800. (a) The governing board of any school district may, with the
consent of the county superintendent of schools, establish a
revolving cash fund for the use of the chief accounting officer of
the district, by adopting a resolution setting forth the necessity
for the revolving cash fund, the officer for whom and the purposes
for which the revolving cash fund shall be available, and the amount
of the fund. The purposes for which the revolving cash fund shall be
available shall include the purposes specified in Section 45167.
Three certified copies of the resolution shall be transmitted to the
county superintendent of schools. If he approves the establishment of
the fund, the county superintendent shall endorse his consent on the
resolution and return one copy to the governing body of the
district, and transmit one copy to the county auditor.
(b) The maximum amount allowed for revolving cash funds
established pursuant to subdivision (a) shall be the lesser of:
(1) Two percent of the district's estimated expenditures for the
current fiscal year, or
(2) A dollar amount limit of seventy-five thousand dollars
($75,000) for any elementary school or high school district and one
hundred fifty thousand dollars ($150,000) for any unified school
district for fiscal year 1990-91. The dollar amount limit for each
district shall thereafter be increased annually by the percentage
increase in the district's revenue limit established by Section
42238.

42801. (a) Except as otherwise provided in subdivision (b) of this
section, the officer for whose use the revolving cash fund is created
shall file with the governing body of the district a bond in favor
of the district, executed by him as principal and by a surety company
authorized under the laws of the state to execute bonds as surety,
in an amount not less than double the amount of the revolving cash
fund. The bond shall be conditioned upon the faithful administration
of the revolving cash fund and upon the willingness and ability of
the principal to account for and pay over the revolving cash fund at
any time upon the demand of the governing board of the district. The
premium on the bond shall be a legal charge against the district,
payable from the funds of the district.
(b) In lieu of the bond required by subdivision (a) of this
section, an officer may be bonded as provided by Section 41021.

42801.5. Notwithstanding the requirement to provide for indemnity
bonds pursuant to Sections 42650 and 42801, the governing board of a
school district may, in lieu thereof, insure against losses caused by
an employee or an officer of a school district if the insurance
gives the same or greater protection to the school district that a
bond would provide in indemnifying the school district against any
loss caused by the employee or officer of the district.

42802. No bond shall be required when the revolving cash fund does
not at any time exceed twenty-five dollars ($25).

42803. The governing board of the district shall draw an order, on
the form and in the manner required by law for order, requisition,
and warrant for the payment of school moneys, payable from the county
or special fund of the district, in favor of the officer for whose
use the revolving cash fund is created, for the amount of the
revolving cash fund, and transmit the order to the county
superintendent of schools accompanied by the bond and a certified
copy of the resolution. Upon his approving the order, the county
superintendent of schools shall detach and retain the bond. Upon his
allowing and signing the warrant, the county auditor shall detach and
retain the certified copy of the resolution and the county treasurer
shall pay the warrant.

42804. The person entrusted with the revolving fund shall not be
authorized to expend any portion of the fund except for services or
material, the securing or purchasing of which is a legal charge
against the district, and no expenditure shall be made unless a
receipt is obtained therefor setting forth the date and the purpose
of the expenditure and the amount expended. The governing board of
any school district may establish and account for the revolving fund
in one or more banks. The account shall be known as "The Revolving
Fund Account of (insert name of district) District" and shall be
established in the custody of the officer for whose use the revolving
cash fund is created who shall be responsible for the payment into
the account or accounts of all moneys required to be reimbursed into
the account or accounts, and for all expenditures therefrom, subject
to such regulations as the governing board prescribes. A bill shall
be presented to the district monthly, or oftener if necessary, for
the reimbursement of the fund in the same manner as other bills are
presented. Bills shall be supported by the receipts required. All
sums received in payment of the bills shall be returned to the
revolving cash fund or bank account or accounts and each person
entrusted with the revolving cash fund shall, upon demand of the
county superintendent of schools or the county auditor or of the
governing board of the district, give an account of the fund.

42805. The governing board of the district may at any time reduce
or discontinue any revolving cash fund established by its order.
Whenever the fund is ordered reduced the person using it shall
immediately return to the county treasury the amount necessary to
reduce the fund, as ordered by the board. If the fund is
discontinued, the person using it shall immediately refund the amount
thereof to the county treasurer. In either event a reasonable time
shall be allowed the person to reimburse himself by bills presented
to the school district for expenditures legally made from the fund.

42806. The county superintendent of schools may, with the consent
of the county board of education, establish a revolving cash fund for
the use of the chief accounting officer of the county superintendent
of schools, by adopting a resolution setting forth the necessity for
the revolving cash fund, the officer for whom and the purposes for
which the revolving cash fund shall be available, and the amount of
the fund. The purposes for which the revolving cash fund shall be
available shall include the purposes specified in Section 45167. The
amount of the fund shall not be more than 2 percent of the estimated
expenditures of the county superintendent of schools for the current
fiscal year and shall not in any event exceed thirty thousand dollars
($30,000). Three certified copies of the resolution shall be
transmitted to the county board of education. If the county board of
education approves the establishment of the fund, the chairman shall
endorse his consent on the resolution and return one copy to the
county superintendent of schools and transmit one copy to the county
auditor.