1. Monthly statements of all bank accounts are due on or about the fifth business day of each month. Statement dates of all accounts are to be the last calendar day of the month. 2. All monthly statements must include deposits and checks cleared in check number order. 3. Monthly Statements available via hard copy by mail, or on-line if desired by the district. 4. Interest on all accounts of the Board of Education, regardless of balance or activity, including but not limited to the following accounts: a. General Account b. Capital Reserve c. Net Payroll d. Payroll Agency e. Unemployment f. Cafeteria g. Student Activities h. Athletics i. Petty Cash j. Cash Management MMA 5. Wiring services and ACH deposits and withdrawals. 6. Monthly account analysis to include bank earnings credit, itemized fees, and interest earned to be credited to the district. Also, reconciliation of outstanding items General Account, Payroll Salary Account and any other account deemed necessary by the Board of Education. 7. A bank office at which the district can transact business, in a location convenient to Fair Lawn BOE’s business office. 8. Remote Deposit with required hardware/software provided at no charge to the Board of Education. 9. Eligibility to act as depository for public funds under the Governmental Unit Deposit Protection Act (GUDPA). 10. Cost of printing all checks/check stock, laser check chip encoding, toner, laser check chip encoding changes of signatures, depository stamps, deposit slips and deposit bags for courier pick-up at no charge to the Board of Education.
