Investment of monies received within an individual school is subject to the procedures as specified in the Tennessee Internal School Uniform Accounting Policy Manual. A copy of the Manual is on file in the principal’s office at each school and in the school system’s Finance Department. 

Only one combined checking account for the General and any Restricted Funds shall be established. Savings and/or investment accounts may be opened as needed by the principal and approved by the Superintendent or his designee. 

Interest earned on general fund accounts shall be credited to general fund revenue. Interest earned on restricted fund accounts shall be credited to revenue in each restricted account. 

Accounts shall be established only with insured depositories, and accounts cannot exceed the insured amount unless the depository pledges collateral for any funds or deposit over the insured amount. If account balances do exceed the insured amount, a letter of collateralization for the depository must be on file with the principal. 

School food service funds shall be kept separate from other school funds and interest earned on food service fund deposits shall be credited to food service revenue. 

Questions should be directed to the Finance Department at 594-1676.