LAUREL SPRINGS SCHOOL DISTRICT

Accounts                                                                                              Policy #3400

Generally Accepted Accounting Principles

The chief school administrator shall ensure that generally accepted accounting principles (GAAP) are applied in preparing the budget and keeping all accounts of the district in accordance with code and statute.

First Reading: November 15, 2006

Adopted: December 13, 2006

Legal References: N.J.S.A 18A:4-14 Uniform system of bookkeeping for school districts

            N.J.S.A 18A:17-8       Secretary; collection of tuition and auditing of accounts

            N.J.S.A 18A:17-35     Records of receipts and payments

            N.J.S.A 18A:22-8      Contents of budget; program budget system

            N.J.S.A 18A:34-2      Care and keeping of textbooks and accounting

            N.J.A.C 6:19-1.1       Comprehensive Educational Improvement and Financing Program

            N.J.A.C 6:20-2A.1     Double Entry Bookkeeping and GAAP Accounting in Local School Districts