Iowa Code r. 281-36.5 - Fiscal provisions
(1)
Salary. No remuneration, salary, or remittance may be made to
any member of an executive board, representative council or advisory committee
of an organization for the member's service.
(2)
Expenses. Travel and
actual expenses of executive board members, representative council members,
advisory committee members, and officers may be paid from organizational funds
only when on official business for the organization. Actual expenses are to be
paid for travel for transportation outside the state, along with necessary and
reasonable expenses that are to be itemized. Itemized accounting of the travel
and business expenses of employees are to be furnished to the department in an
annual report on a form prescribed by the department.
(3)
Financial report. Full
and detailed reports of all receipts and expenditures are to be filed annually
with the department.
(4)
Bond. The executive board of each activity organization will
purchase a blanket fidelity bond from a corporate surety approved by the
executive board, conditioned upon the faithful performance of the duties of the
executive officer, the members of the executive board, and all other employees
of the activity organization. Such blanket bond is to be in a penal amount set
by the executive board and is to be the sum of 50 percent of the largest amount
of moneys on hand in any 30-day period during the preceding fiscal year, and 20
percent of the net valuation of all assets of the activity organization as of
the close of the last fiscal year, but such bond will in no case be in an
amount less than $10,000.
(5)
Audit.
a.
General. The financial condition and transaction of all
organizations will be examined once each year, or more often if directed by the
director of education, by either a certified public accountant chosen by the
organization or by a committee chosen by the organization and approved by the
director of education.
b.
Examinations by auditors. Auditors have the right while making
the examination to examine all organization papers, books, records, tickets,
and documents of any of the officers and employees of the organizations, and
have the right in the presence of the custodian or deputy to have access to the
cash drawers and cash in the official custody of the officer and to the records
of any depository that has funds of the organization in its custody.
c.
Access to records. Upon
request, organizations will make available to the department or its delegated
representative all records, data, written policies, books, accounts, and other
materials relating to any or all aspects of their operations.
Notes
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