Who is required to sign checks for the school's checking account?

Signing checks for a school's checking account typically involves ensuring that the individuals responsible have the appropriate authority and accountability, which is critical for maintaining financial integrity within the institution.

In this case, requiring both the principal and a principal designee to sign checks serves several important functions. It distributes the responsibility, enhancing oversight and reducing the risk of fraud or errors. By involving a designee, the school ensures that there’s always someone authorized to approve expenditures even if the principal is unavailable. This practice aligns with standard financial controls that many educational institutions implement to safeguard their funds.

Having only the principal sign checks could lead to bottlenecks in processing payments, especially if the principal is unavailable due to other obligations. On the other hand, allowing any teacher to sign checks would significantly compromise financial oversight and controls, as teachers may not have the same level of authority or accountability regarding budgetary matters. Lastly, having school board members sign checks is not a common practice, as the board typically oversees broader governance issues rather than day-to-day financial transactions. Therefore, the requirement for both the principal and a designee to sign checks promotes responsible financial management within the school.