The school board shall prescribe policies and procedures governing the stewardship of custodial funds consistent with provisions of this title. The school board may designate an employee of the school district to be in charge of each custodial fund. The employee designated, if other than the business manager, shall be placed under surety bond in the amount estimated to be in the hands of the employee at any one time during the school fiscal year. The school district shall pay the premium on the surety bond.

Terms Used In South Dakota Codified Laws 13-16-19

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.

Source: SL 1955, ch 41, ch 10, § 11; SDC Supp 1960, § 15.2211; SL 1976, ch 115, § 3; SL 2012, ch 88, § 10; SL 2020, ch 53, § 1.

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