CSD File: DD
CANDIA SCHOOL DISTRICT
FUNDING PROPOSALS AND APPLICATIONS

The School Board is to be kept informed of all possible sources of state, federal, and other funds for the support of the schools and/or for the enhancement of educational opportunities. The Superintendent is to apprise the Board of its eligibility for general or program funds and to make recommendations for Board action.

Adopted: February 3, 2000
Reviewed: May 5, 2022

CSD File: DEA
CANDIA SCHOOL DISTRICT
REVENUES FROM LOCAL TAX SOURCES

The major share of all financial support for local school districts is raised by taxing property within the district. Most of the financial support of public education, therefore, is subject to a direct vote of the people.

It is the responsibility of the School Board to sufficiently explain the objectives and needs of the school to the legislative body which casts the final vote, so that local support of education can indeed provide for all children equal educational opportunities.

The Board, administration, and the professional staff will work with the taxpayers toward the solution of problems in the operational funding of the school district.

The financial condition of the district, along with its needs and goals, will be presented to the citizens. This will be done through an ongoing public information program, carried out by all appropriate means.

In addition, the Board may:
1. Accept available state funds to which the district is entitled by law or through rules of the State Board of Education, and
2. Accept federal funds which are available providing there is a specific need for them and that matching funds required are available.

The Board may accept revenues on a case-by-case basis consistent with the goals, policies, and programs of the district.

Adopted: February 3, 2000
Reviewed: May 5, 2022

CSD File: DFA
CANDIA SCHOOL DISTRICT
INVESTMENT
The Candia School Board authorizes the School District Treasurer, working in conjunction with the Superintendent and his/her designee and pursuant to RSA 197:23a, to invest the funds of the District subject to the following objectives and standards of care.

OBJECTIVES
The three objectives, in priority order, of investment activities shall be safety, liquidity, and yield.
1. Safety of principal is the foremost objective in this policy. Investments shall b e undertaken in a manner that seeks to ensure the preservation of capital by mitigating credit and interest rate risk. This will be accomplished by limiting the type of the investments and institutions to those stipulated by statute and fully covered by F DIC insurance or collateral approved pursuant to RSA 366:57.
2. Liquidity of the investment portfolio shall remain sufficient to meet all operating requirements that may be reasonably anticipated.
3. Yield. The investment portfolio shall be designed with the objective of attaining a market rate of return throughout budgetary and economic cycles, taking into account the investment risk constraints and liquidity needs. Return on investment is of secondary importance compared to the safety and liquidity objectives described above.

STANDARDS OF CARE
1. Prudence. The standard of prudence to be used by the District Treasurer and Superintendent, or his/her designee involved in the investment process, shall be the “prudent person” standard and shall be applied in the context of managing an overall portfolio. Th are directed to use the Government Finance Officers Association’s ey Recommended Practices and Policy Statements Related to Cash Management as a guide to the prudent investment of public funds.
2. Ethics an d conflicts of interest. The School District Treasurer and Superintendent, or his/her designee involved in the investment process, shall refrain from personal business activity that could conflict with the proper execution and management of the investment program or that could impair their ability to make impartial decisions. Employees and investment officials shall disclose any material interests in financial institutions with which they conduct business. They shall also disclose any personal financial/investment positions that could be related to the performance of the investment portfolio. Employees and officials shall subordinate their personal investment transactions to those of the School District, particularly with regard to the timing of purchases an d
3 . Internal Controls. sales. All checks will be signed by the Treasurer (electronic signatures are acceptable), since the checks are signed electronically the Treasurer will be notified via email when payroll and accounts payable checks are ready to be issued. The Treasurer will reply with their approval to release the checks.

The Business Office staff will keep a running total of the cash in the checking account to verify that there is enough money to cover the disbursements for the district.

The Treasurer reconciles the checking account on a monthly basis. The Business Office staff reconciles the cash account and ensures that the cash account and the Treasurer’s reconciliation agree.

The Board will review the investment policy annually.

Legal References: RSA 197:23-a Treasurer’s Duties RSA 383:22, Public Deposit Investment Pool

Adopted: February 3, 2000
Revised: March 8, 2007
Reviewed: February 5, 2009, May 6, 2010, May 5, 2011, June 7, 2012, June 6, 2013, May 7, 2015, April 7, 2016 Revised: January 5, 2017 Reviewed: April 5, 2018, June 6, 2019, June 4, 2020, April 1, 2021, May 5, 2022, May 4, 2023

CSD File: DG
CANDIA SCHOOL DISTRICT
DEPOSITORY OF FUNDS

Supporting documentation of all income payable to the school district and all revenue received will be forwarded to the School Treasurer, and posted in the general ledger.

The Treasurer and Superintendent will recommend and request School Board approval when other depositories are needed.

Adopted: February 3, 2000
Revised: February 10, 2022

CSD File: DGA
CANDIA SCHOOL DISTRICT
AUTHORIZED SIGNATURES

Checks drawn on the general fund or any special fund, with the exception of the building activity fund, will require the signature (real or facsimile stamp) of the School District Treasurer.

Adopted: February 3, 2000
Revised: February 10, 2022

CSD File: DI
CANDIA SCHOOL DISTRICT
FISCAL ACCOUNTING AND REPORTING

The district’s accounting system will be in conformance with the New Hampshire Financial Accounting Handbook published by the State Department of Education. An adequate system of encumbrance accounting will be maintained.

The School Board shall receive financial reports and statements showing the financial condition of the school district. These statements/reports shall be prepared on a scheduled basis during the school year, two of which shall contain estimates to project cost for the full year including actual encumbered expenses. The School Board may ask for a statement or report at any time.

Adopted: February 10, 1987
Adopted: February 3, 2000
Reviewed: February 10, 2022

CSD File: DIA
CANDIA SCHOOL DISTRICT
FUND BALANCE POLICY

1. In accordance with the governmental accounting standard, GASB Statement No. 54, the
School Board recognizes the following five categories of fund balance for financial reporting
purposes:
a. Nonspendable Fund Balance – non-cash assets such as inventories or prepaid items.
b. Restricted Fund Balance – funds legally restricted for specific purposes, such as grant,
food service and expendable trust funds.
c. Committed Fund Balance – amounts that can only be used for specific purposes
pursuant to a formal vote of the School Board.
d. Assigned Fund Balance – amounts intended by the Board for specific purposes. The
Board can choose to delegate this authority to the Superintendent or Business
Administrator, depending on the situation. Items that would fall under this type of fund
balance could be encumbrances.
e. Unassigned Fund Balance – residual spendable fund balance after subtracting all of the
above amounts.

2. Committed Fund Balance. The School Board, as the government’s highest level of decision-making
authority, may commit fund balance by a formal vote prior to the government’s fiscal
year-end for that fiscal year. Future modification or rescission of committed funds must
likewise be accomplished by a formal vote of the School Board prior to fiscal year-end.

3. Assigned Fund Balance. The School Board expressly delegates to the Superintendent,
through the Business Administrator, the authority under this policy to assign funds for
particular purposes.

4. Spending Prioritizations:
a. When an expenditure is incurred that would qualify for payment with either restricted or
unrestricted funds, it will be paid from restricted funds.
b. When an expenditure is incurred that qualifies for payment from either of the three
unrestricted fund balance categories, it will be applied in the following order:
1) Committed, 2) Assigned, and 3) Unassigned.

5. Deficit Fund Balance. At year end if any of the special revenue funds (i.e. food service,
vocational education funds, etc.) has a deficit unassigned fund balance then the
Superintendent is authorized to transfer funds from the general fund to cover the deficit,
providing the general fund has money to do so.

6. The School Board will turn back any unassigned general fund balance at year-end to offset
the next fiscal year’s tax rate for the Town.

7. Annual Review. Compliance with the provisions of this policy shall be reviewed as a part of
the annual budget adoption process.

Adopted: October 6, 2011
Revised: June 6, 2013
Reviewed: May 7, 2015
Reviewed: April 7, 2016

CSD File: DID
CANDIA SCHOOL DISTRICT
CAPITAL (FIXED) ASSETS

The Candia School District has invested in a broad range of capital assets that are used in the school system’s operations. The Superintendent will designate the person responsible for managing the District’s capital assets and maintaining the fixed assets inventory. In accounting for capital assets, the District will implement the standards required by Statement 34 of the Government Accounting Standards Board.

Capital assets are real or personal property that have a value equal to or greater than the capitalization threshold of the particular classification of asset.

Capital assets include:
– Land
– Land Improvements (not depreciable)
– Land Improvements (depreciable)
– Infrastructure
– Construction in Progress
– Vehicles
– Furniture, Equipment and Machinery

All assets, or at least a representative sampling, including those that are reported on a composite basis, must be evaluated once annually to reflect either an increase or decrease in total value.

CAPITALIZATION THRESHOLD
For financial reporting purposes, capitalization threshold is set at $5,000 per item.

ACQUISITION OF ASSETS
Capital assets may be acquired through donation, purchase, or may be constructed. The asset value for donations will be the fair market value at the time of the donation. The asset value, when purchased, will be the initial cost of the item/items. The asset value of constructed assets include all costs of construction.

DEPRECIATION OF ASSETS
For all assets that qualify as a depreciable asset, the straight-line, full-year depreciation method should be utilized to depreciate the capital asset, over the estimated useful life of the related asset.

DISPOSITION OF ASSETS
When capital assets are sold or otherwise disposed of, the inventory of capital assets should be relieved of the cost of the asset and the associated accumulated depreciation. Assets will be removed on an annual basis in conjunction with the annual update. The appropriate depreciation will be taken for the year of disposal.

Adopted: May 9, 2002
Revised: October 2, 2008
Revised: June 6, 2013
Revised: November 2, 2017

CSD File: DIE
CANDIA SCHOOL DISTRICT
AUDITS

The books and accounts of the district shall be audited annually. The audit to be performed will meet the basic audit procedures prescribed by CPA standards.

The School Board will confirm the selection of the auditors after hearing the recommendation from the Superintendent or Business Administrator. Such audit will be made in accordance with RSA 197:25.

Statutory References: RSA 197:25, RSA 671:5

Adopted: February 10, 1987
Adopted: February 3, 2000

CSD File: DN
CANDIA SCHOOL DISTRICT
SCHOOL PROPERTIES DISPOSAL PROCEDURE

It is the policy of the School Board to obtain maximum utilization from all school property.

Property owned by the school district shall be determined to be obsolete or surplus when any one of the following criteria has been met:
a. The property exists in quantities exceeding the possibility of the effective educational use by the school district.
b. The property is unsound, out-of-date, inaccurate or in an unusable or economically unrepairable condition.

Determination as to whether any of the above criteria applies to property currently possessed by the school district shall be made by the Superintendent, who may delegate this responsibility to qualified personnel, provided all requirements of the law are met.

Disposal of property which meets the above criteria shall be in a manner most advantageous to the school district and shall be according to the following priority outcomes:
1. Sale
2. Trade in or exchange
3. Donation to students, parents, or non-profit agencies, whichever is appropriate
4. Discard in an appropriate manner.

The sale of property which is expected to raise more than $250.00 must be advertised in at least one local newspaper. The sale of property which is expected to raise more than $500.00 must be specifically approved by the district’s School Board.

Adopted: September 13, 1978
Revised: February 10, 1987
Adopted: February 3, 2000
Revised: November 6, 2014