File BBFB: Financial Conflict of Interest


Board Members
A Board member shall not have any direct or indirect pecuniary interest (as defined by Law) in a contract with the District, nor shall he/she furnish directly any labor, equipment or supplies to the District.

In the event that a Board member is employed by a corporation or business, or has a secondary interest in a corporation or business which furnishes goods or services to the schools, the Board member shall declare his/her secondary interest and refrain from debating or voting upon the question of contracting with the company.

It is not the intent of this policy to prevent the District from contracting with corporations or businesses because a Board member is an employee of the firm. The policy is designed to prevent the placing of Board members in a position where their interest in public schools and their interest in their places of employment (or other indirect interest) might conflict, and to avoid appearances of conflict of interest even though such conflict may not exist.

District Employees
Employees in a position of financial trust, including but not limited to, the Superintendent of Schools, Business Manager, Accountant, Accounts Payable Specialist, school principal, Athletic Director, or school secretary, shall not be related to each other. A position of financial trust is a position with direct responsibility to:

(1) authorize the expenditure of any District funds
(2) physically receive or disburse District funds (either in cash or otherwise), or
(3) maintain the official records that account for any District funds.

District funds include the general fund, student activity funds, federal and all other grant funds, and any other funds that are maintained in the physical custody of the District or in District bank accounts.

Employees are prohibited from entering into business transactions with companies affiliated with or acting as major customers or suppliers of the District unless the goods or services to provided to the employee by those companies are:

(1) available to the general public at the same prices and under the same terms and conditions as offered to the employee
(2) being purchased through a District-wide cooperative purchasing agreement that is available to all District employees, or
(3) being purchased under the terms of a private purchasing arrangement, such as a fuel cooperative, that is not owned or controlled by District employees,

For the purposes of this policy, “employee” means a person who receives monetary payments or benefits, no matter the amount paid or hours worked, for personal services performed for the District.

20-A M.R.SA. §1002
30-A MR.S.A. §2251; 2604 et seq.

FIRST READING: February 9, 2006
SECOND READING: March 9, 2006
ADOPTION: March 9, 2006

Website by SchoolMessenger Presence. © 2024 SchoolMessenger Corporation. All rights reserved.