04 NCAC 02R .0908. ACCOUNTING SYSTEM

Latest version.

(a) Each local board shall establish and maintain an accounting system designed to show in detail its assets, liabilities, equities, revenues and expenses. Conformity to the Uniform Accounting Procedures for all local boards shall be indicative of the adequacy of the system.

(b) The fiscal year for local boards shall begin July 1 and end June 30.

(c) All checks shall be signed by the finance officer or properly approved deputy finance officer or by another official or member of the local board as designated by the local board.

History Note: Authority G.S. 18B‑702(e);

Eff. May 1, 1984.

                    
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