CHESTER TOWNSHIP BOARD OF EDUCATION POLICY: 3400

ACCOUNTS

Generally Accepted Accounting Principles

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

Date: October 8, 2002

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 et seq. Comprehensive Educational Improvement and Financing

See particularly: Program

N.J.A.C. 6:19-2.1, 4.2

N.J.A.C. 6A:23-2.1 et seq. Double Entry Bookkeeping and GAAP Accounting in Local School Districts

Manual for the Evaluation of Local School Districts (August 2000)

Handbook 2R2 – Financial Accounting for Local and State School Systems

Cross References: 3100 Budget planning, preparation and adoption

3326 Payment for goods and services

3450 Money in school buildings

3451 Petty cash funds

3453 School activity funds

3570 District records and reports

3571 Financial reports

3571.4 Audit

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