Question: I have an ASB club adviser that wants to know where it states that fund-raising monies have to be deposited daily. Is it in an Education Code or state regulation? If you could clarify this for me I will pass the information on to the site bookkeeper.

Response:  Deposits should be done daily as a good business practice. There is no Education Code statute or state regulation stating it must be done. It is the right thing to do to safeguard the district’s and the ASB’s assets. Locked cabinets are easy to break into and safes can be stolen.  Also, carrying large deposits to banks can be risky.

Another reference to contact is your independent auditor.

2/03/05