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Littleton Public Schools Policy |
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Policy Code DIB Policy Name Funds Adoption July 2, 1984 Revised May 12, 2011 |
The following funds and accounts have been established as a part of the rules and regulations drafted by the Colorado Department of Education necessary to meet legal requirements, Colorado Department of Education reporting requirements, and generally accepted governmental accounting principles.
General Fund
The General Fund shall be used to finance and account for all ordinary operations of a school district. This fund is used to account for all transactions which are not accounted for in another fund.
Risk Management Fund
The Risk Management Fund shall be used to finance and account for transactions related to property, liability, and workers’ compensation self-insurance for the District.
Colorado Preschool Program
The Colorado Preschool Program shall be used to finance and account for preschool activities directly related to children enrolled in the District’s preschool program.
Charter School Fund
The Charter School Fund shall be used to report revenues and expenditures of charter schools to the Colorado Department of Education.
Special Revenue Funds
Designated-Purpose Grants Funds
The Designated-Purpose Grants Funds shall be used to account for revenues and expenditures with respect to the purpose and programs for which the funds were received.
Pupil Activity Fund
The Pupil Activity Fund shall be used to account for revenues and expenditures related to school-sponsored student activities.
Debt Service Fund
Bond Redemption Fund
The Bond Redemption Fund shall be used to account for payment of principal and interest to satisfy bonded indebtedness as provided by law.
Capital Projects Funds
Building Fund
The Building Fund shall be used to account for the proceeds of bond sales; revenues from other sources; capital outlay expenditures for acquiring land or buildings; improvements of grounds; remodeling of buildings; enlarging, improving, repairing, or making improvements to any school building; constructing or erecting school buildings; or equipping and furnishing any new school building.
Capital Projects Fund
The Capital Projects Fund shall be used to account for ongoing capital needs such as site acquisition, building additions, remodeling of buildings, equipment, and vehicles.
Enterprise Funds
Enterprise Funds are used to account for operations that are financed in a manner similar to private enterprise, where the intent is the costs of providing goods or services to the general public on a continuing basis be financed or recovered primarily by user charges, or where it has been decided that periodic determination of net income is appropriate for accountability.
Food Services Fund
The Food Services Fund shall be used to account for all food services financial transactions.
Extended Day-Care Program Fund
The Extended Day-Care Program Fund shall be used to account for all financial transactions of before- and after-school care programs, kindergarten programs, and preschool programs.
Trust and Agency Funds
The Trust and Agency Funds shall be used to account for money and property held in trust for the District and by the District for individuals or organizations.
Student Clubs Fund
The Student Clubs Fund shall be used to account for self-supporting school-sponsored pupil organizations and activities. These activities do not receive any direct or indirect support from the District.
Legal Reference: C.R.S. 22-32-107
C.R.S. 22-42-119
C.R.S. 22-45-103
C.R.S. 29-13 -101