§ 115C-448. Special funds of individual schools. - North Carolina Statutes

§ 115C‑448. Special funds of individual schools.

(a)        The board of education shall appoint a treasurer for eachschool within the local school administrative unit that handles special funds.The treasurer shall keep a complete record of all moneys in his charge in suchform and detail as may be prescribed by the finance officer of the local schooladministrative unit, and shall make such reports to the superintendent andfinance officer of the local school administrative unit as they or the board ofeducation may prescribe. Special funds of individual schools shall be depositedin an official depository of the local school administrative unit in specialaccounts to the credit of the individual school, and shall be  paid only onchecks or drafts signed by the principal of the school and the treasurer. Theboard of education may, in its discretion, waive the requirements of thissection for any school which handles less than three hundred dollars ($300.00)in any school year.

(b)        Nothing in this section shall prevent the board of educationfrom requiring that all funds of individual schools be deposited with  andaccounted for by the school finance officer. If this is done, these moneysshall be disbursed and accounted for in the same manner as other school fundsexcept that the check or draft shall not bear the certificate of preaudit.

(c)        For the purposes of this section, "special funds ofindividual  schools" includes by way of illustration and not limitationfunds realized from gate receipts of interscholastic athletic competition, saleof school annuals and newspapers, and dues of student organizations. (1975, c. 437, s. 1; 1981, c. 423, s. 1.)