701.03 Financial Records

Financial records of the school district are maintained in accordance with generally accepted accounting principles (GAAP) as required or modified by law.  School district monies are received and expended from the appropriate fund and/or account.  The funds and accounts of the school district will include, but not be limited to:

Governmental fund type:

      ·    General fund

      ·    Special revenue fund

                  --Management Levy fund

                  --Public Education and Recreation Levy fund (PERL)

                  --Student activity fund

      ·    Capital projects fund

                  --Physical Plant and Equipment Levy fund (PPEL)

                  --Secure and Advanced Vision for Education (SAVE)

      ·    Debt service fund

Proprietary fund type:

      ·    Enterprise fund

                  --School nutrition fund

                  --Child care fund

       
Fiduciary funds:

      ·    Trust

                  --Expendable trust funds

                  --Nonexpendable trust funds

                  --Pension trust funds

      ·    Agency Funds

Account groups:

      ·    General capital assets account group

      ·    General long-term debt account group