FILE:  DG

 

DEPOSITORY OF FUNDS

 

 

All revenue received by the Natchitoches Parish School Board shall be deposited in the official depository bank.  The bank fund accounts shall be approved annually by the Board at the time the budget is adopted.

 

The Board shall select the bank to serve as the official depository.  The Board accounts shall be rotated annually among the three (3) banks serving the community.  Furthermore, the bank selected each year shall not be the same as that chosen by Northwestern State University.

 

The selection of the official depository or treasury for the Natchitoches Parish School System funds shall be in the following manner:

 

  1. All banks located within the school system shall be notified in writing inviting them to submit their proposal to serve as the official depositories or treasuries of the school system for the next biennium.
     

  2. The depositories or treasuries selected by the Board shall protect the school system funds as provided by state law and shall submit necessary data for approval by the Board.

 

 

Ref:     La. Rev. Stat. Ann. ยงยง17:81, 39:1220

Board minutes, 2-19-91

 

Natchitoches Parish School Board