N.Y. Education Law § 2523: Moneys; custody and disbursement

§ 2523. Moneys; custody and disbursement. 1. The treasurer of each

city school district shall demand, collect, receive and have the care

and custody of moneys belonging to or due the district from every

source. On the business day next following the day of their receipt the

treasurer shall deposit in his name, as treasurer of the city school

district, all such moneys in or with such banks or trust companies as

shall have been designated as depositaries of the moneys of such

district. Where the board of education with the written consent of the

city authorities, has appointed a city officer as city school district

treasurer, such treasurer may not commingle school district funds with

city funds.

2. Such moneys shall be disbursed only on the signature of such

treasurer by checks payable to the person or persons entitled thereto.

The board of education may in its discretion require that such

checks-other than checks for salary, be countersigned by another

officer of such district. When authorized by resolution of the board of

education such checks may be signed with the facsimile signature of the

treasurer and other district officer whose signature is required, as

reproduced by a machine or device commonly known as a check-signer. Each

check drawn by the treasurer shall state the fund against which it is

drawn. No fund shall be overdrawn nor shall any check be drawn upon one

fund to pay a claim chargeable to another. No money shall be paid out by

the treasurer except upon the warrant of the clerk of the board of

education after audit and allowance by such board, or if a claims

auditor shall have been appointed, except upon the warrant of such

claims auditor after audit and allowance thereof; provided, however,

when provision for payment has been made in the annual budget the

treasurer may pay, without such warrant or prior audit and allowance,

(a) the principal of and interest on bonds, notes or other evidences of

indebtedness of the district or for the payment of which the district

shall be liable, and (b) compensation for services of officers or

employees engaged at agreed wages by the hour, day, week, month or year

upon presentation of a duly certified payroll. By resolution duly

adopted, the board may determine to enter into a contract to provide for

the deposit of the periodic payroll of the school district in a bank or

trust company for disbursal by it in accordance with provisions of

section ninety-six-b of the banking law.