A local board of education, to ensure the sound fiscal management of board finances, upon the recommendation of the local superintendent of education, shall adopt fiscal management policies which comply with generally accepted accounting principles, including, but not limited to, policies related to each of the following:

(1) Regular reconciliation of bank statements.

Terms Used In Alabama Code 16-13A-1

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • following: means next after. See Alabama Code 1-1-1
(2) Maintenance of fixed assets inventory.
(3) Deposit of incoming funds.
(4) Review of monthly revenues and expenditures.
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