• File: DG/DH

    BANKING SERVICES/ BONDED EMPLOYEES AND OFFICERS

    DEPOSITORIES AND BONDING

    The Regional School Committee by a majority of vote of its members shall designate one or more banks as official depositories for any monies or funds for which it has responsibilities.

    The bank or banks shall be required to provide a monthly report of deposits and withdrawals.

    A bank named as an official depository shall continue in that capacity until ten days after a new depository is designated.

     The following persons in the school district shall be bonded:

    • Superintendent-Director
    • Treasurer
    • Assistant Treasurer
    • School Business Administrator
    • Senior Bookkeepers

    LEGAL REF.:                        M.G.L. 40:5; 41: 35

    SOURCE:  Greater Fall River