New proposed policy:
Section 2.1. Checks and Electronic Funds Transfer (EFT) Authorization (renamed)
Any check or EFT payment under $10,000 drafted on any school-designated bank account may be signed/authorized by the Chief Administration Officer, Chief Executive Officer, Board Treasurer, or Board President. Any check or EFT payment at or above $10,000 drafted on any school-designated bank account must be dually signed/authorized by the Board Treasurer or Board President. In the case of an EFT, the Chief Administration Officer or the Chief Executive Officer must receive written, approved authorization from the Board Treasurer or Board President. A dual signer exception is granted for payments for board-approved recurring, fixed expenditures such as monthly rent.
