DEPOSITORIES OF FUNDSThe Board of Education shall designate commercial bank(s) at the reorganizational meeting for the deposit of school district monies.
The designated depositories are required to collateralize all deposits fully.
Ref: Education Law §§2129; 2130(4)
8 NYCRR §§170.1; 170.2General Municipal Law §§10; 11; 800 et seq.
Note: Prior policy, Policy Manual, 3000, revised
Policy Adopted: March 12, 1997 Wayne Central School District
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