Series: Series6000     Sub Series: 6600 FISCAL ACCOUNTING AND REPORTING     Policy Number: 6620
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WIRE TRANSFERS AND ONLINE BANKING


It is the policy of the Rhinebeck Central School District to take advantage of online banking services offered by approved depositories.  These services may include, but are not limited to, the ability to check account balances and check clearing activity, make transfers between bank accounts, reconcile accounts, closely monitor cash balances and initiate wire transfers.

 

At least two people, designated by the Assistant Superintendent for Support Services, or their designees, are required to initiate and approve all wire transfers.  Wire transfers will be verbally confirmed with the Assistant Superintendent for Support Services by the bank. Journal entries to record such wire transfers will be prepared by the District Treasurer, and approved by the Assistant Superintendent for Support Services, and subsequently supported by the bank statement or confirming notice, in order to provide an audit trail.

 



District Reference:
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General Reference:

Adoption Date:
2011-01-11

Last Revised: