The Arizona Revised Statutes have been updated to include the revised sections from the 55th Legislature, 2nd Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 1st Regular Session, which convenes in January 2023.
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
15-1126. Accounting; deposit; disposition of monies
A. Auxiliary operations fund monies shall be accounted for in accordance with the requirements of the uniform system of financial records.
B. Auxiliary operations fund monies shall be deposited after authorization by the governing board in a bank account designated as the auxiliary operations fund or in an account with the county treasurer pursuant to section 15-996 that is designated as other monies. Disbursements from the fund shall be authorized by the governing board. Disbursements shall be made by check signed by two employees of the school district designated by the governing board. For school districts that do not assume accounting responsibility pursuant to section 15-914.01, disbursements may be made by county warrants issued pursuant to section 15-304 and designated as other monies. Persons authorized by the governing board to sign checks shall give a bond in an amount determined by the governing board, and the cost of bond premiums may be a charge against the fund.
C. Auxiliary operations fund monies may be invested and reinvested by the governing board of a school district. All monies earned by investment shall be credited to the auxiliary operations fund of the school district.
D. The governing board may establish an imprest petty cash fund at each school within the school district for activities that require immediate cash outlays for postage, freight, express, parcel post, travel or other minor disbursements, but not including salaries or wages, and that are proper as ultimate expenditures from the school district auxiliary operations fund. Imprest petty cash funds established by the governing board shall be funded from the school district auxiliary operations fund in an amount to be determined by the governing board.
E. The governing board may establish a revolving fund bank account for each school within the school district for necessary current expenditures in connection with school bookstore and athletic activities. The revolving funds shall be funded from the auxiliary operations fund in an amount to be determined by the governing board. The school shall return the monies in the revolving fund bank account at the end of each fiscal year to the credit of the school district auxiliary operations fund.