6140 - DEPOSITORY AGREEMENTS

The School Board shall adopt a resolution every five (5) years designating those banks and other depositories of public funds in which the Fiscal Officer may deposit interim funds of the School Corporation, naming the digital payment applications, including but not limited to PayPal, Venmo, and Zelle, that the Corporation may utilize to accept funds for payment of school fees or services, and authorizing the Treasurer to enter into agreements with those banks, other depositories, and digital payment applications on behalf of the Board. The Board also shall make interim changes if it is in the Board's best interest to designate an additional depository or digital payment application or if one (1) or more of the designated depositories or digital payment applications are found to be insolvent or operating in an unsound manner.

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