Policy: 3330 PETTY CASH ACCOUNTS

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1 Policy: 3330 PETTY CASH ACCOUNTS Petty cash funds may be established as needed to for schools, central office units, and special programs as they will expedite the purchase of minor items and/or provide immediate payment for minor services. Petty cash funds shall not exceed $ Such funds shall be authorized by the Chief Financial Officer, assigned a custodian, and recorded in accounting records. Expenditures against these funds must shall be itemized, documented with receipts, and charged to the applicable budget code as petty cash funds are replenished. After a budget item is exhausted, no expenditures against the item may be made from petty cash. CROSS REFS: Policy 3140 Budget Transfer Authority Policy 3350 Types of Funds Current practice codified 1986 Adopted: 04/14/87 Revised: 04/10/12 New Hanover County Public Schools, Wilmington, North Carolina

2 Policy: 3230 SCHOOL OWNED REAL ESTATE REAL ESTATE ACQUISITION, DISPOSAL, LEASE AND IMPROMEMENT The New Hanover County Board of Education may acquire suitable sites for schoolhouses or other school facilities by gift, purchase or condemnation (if not more than 50 acres). No school may be erected upon land that is not owned in fee simple by the Board. No contract for the purchase of a site shall be executed, nor any funds expended therefor, without approval of the Board of County Commissioners; provided that a procedure is provided in the event of a dispute between the Board and the Board of County Commissioners. The Board may lease any property which it finds is unnecessary or undesirable for school purposes, for a term not longer than ten (10) years. The Board may sell real estate it finds to be no longer suitable or necessary for school purposes, but must first offer said real estate for sale to the Board of County Commissioners at a fair price or at a price negotiated between the two (2) Boards. Any sale other than to the County Commissioners shall follow the public sale statutes. The proceeds of any sale of real property or from the lease for a term of over one (1) year shall be applied to reduce the county's bonded indebtedness unit or for capital outlay purposes. A. Acquisition of Real Estate. 1. Acquisition of full ownership or easements; improvements. The New Hanover County Board of Education may acquire suitable sites and easements for school buildings or other school facilities by gift, purchase, exchange or condemnation. No school building may be erected upon land that is not owned in fee simple* by the Board. No contract for the purchase of a site shall be executed, nor any funds expended therefore, without approval of the Board of County Commissioners as to the amount to be spent for the site; provided that, in the event of a disagreement between the Board and the Board of County Commissioners as to the amount to be spent for the site, the procedure established by law shall be used to settle the disagreement. *The term fee simple as used in this Policy means fee simple absolute, which is the entire and absolute property in land. It is the most extensive estate or interest that can be owned in land and has a potentially infinite duration. The owner of property owned as fee simple absolute has the unconditional power to dispose of the entire property, except that public bodies such as the Board must follow the procedures applicable to the disposal of public property. 2. Acquisition by lease; improvements. The Board may lease real property for school buildings or school facilities. Such leases are known as operational leases. Operational leases of real property for a term of less than three (3) years do not require the approval of the Board of County Commissioners, whereas such leases for three (3) or more years require such approval of the Board of County Commissioners and must comply with the other conditions set forth in NCGS 115C-530(a). The Board may enter into contracts for the construction, repair or renovation of real property that it has acquired by lease under the conditions set forth in NCGS 115C-530(b),(c), and 115C-441(c1), as applicable. Operational leases and contracts to improve real property acquired by lease are subject to the approval of the 1 of 3

3 Policy: 3230 Local Government Commission if they extend for five (5) or more years and obligate the Board to make payments to another entity of Five Hundred Thousand Dollars ($500,000.00) or more. B. Disposing of or Leasing the Board s Real Estate 1. Disposing of full ownership in real property The Board may dispose of its full ownership interest in real property by sale or exchange for other real property if the Board finds the property to be unnecessary or undesirable for public school purposes, but before selling its real property it must first offer the real property to the Board of County Commissioners at a fair price or at a price negotiated between the two Boards. Any sale of real property other than a sale to the Board of County Commissioners, must be for adequate consideration and done in accordance with NCGS 115C-518 and applicable Constitutional and case law. Any valid restrictions placed on the use or disposal of real property acquired with money obtained through a grant shall be honored, except as may be allowed by the granting authority. The proceeds of any sale of real property shall be applied to reduce the County's bonded indebtedness for the New Hanover County Schools or for capital outlay purposes. 2. Leasing real property to third parties The Board may lease any of its real property to third parties if it finds that the real property will not be needed during the term of the lease. If the lease if is for ten (10) years or more, it is considered a sale of real property for purposes of the procedures to be used, except that only the leasehold interest will be conveyed. The Superintendent or designee may lease or execute facility use agreements for any of the Board s real property for periods not exceeding one (1) year. For leases of the Board s real property of ten (10) years or less, the Board and Superintendent shall endeavor to obtain fair consideration. The proceeds of any lease of real property for a term of over one (1) year shall be applied to reduce the County's bonded indebtedness for the New Hanover County Schools or for capital outlay purposes. 3. Granting easements The Board may grant easements over its real property. If the easement is to any public utility, municipality or quasi municipal corporation to furnish utility services, or constitutes the dedication of rights-of-way for public streets, roads or sidewalks, it may be conveyed with or without compensation except for the benefits accruing by virtue of the location or improvement of said public utility, street, road or sidewalk. Otherwise, the procedures for the sale of the Board s real property shall be followed, as applicable. LEGAL REFS: NCGS 115C-517 through , 115C-426, 115C-431, 160A-265 through LEGAL REFS: NCGS 115C-517, - 518, -426, -521, -530; 160A-265 through 274 NC Constitution, Article IX, Section 7; Boney v. Board of Trustees, 229 NC 136 (1948). 2 of 3

4 Policy: 3230 Current practice codified 1986 Adopted: 04/14/87 Revised New Hanover County Public Schools, Wilmington, North Carolina 3 of 3

5 Policy: 3240 GRANTS AND DONATIONS FROM FEDERAL, STATE, PRIVATE SOURCES Under State law, The New Hanover County Board of Education has the authority to accept, receive and administer any funds or financial assistance given, granted, donated or provided from federal, state or private sources. Grant Application Process Designated program administrators have responsibility for seeking and securing the application process of those federal funds and competitive state grants allotted through the North Carolina Department of Public Instruction. that may be available to the New Hanover County Schools, as well as special funds from the state and other outside sources. All such applications shall be for federal aid and special grants are prepared by these administrators and approved by the Superintendent or designee. The Board authorizes the Superintendent or designee to sign all reports on federal programs. Employees may apply for other grants using the grant application approval process coordinated by Student Support Services. Grant Management The Superintendent or designee will assign a grant administrator for each grant that is awarded to New Hanover County Schools. Proper administration over the grant and grant compliance is the responsibility of the grant administrator. All Grant Management Procedures issued by the Finance Department shall be followed. The Chief Financial Officer shall determine whether grants may be accounted for in school funds or must be budgeted. All equipment and inventory received from grants shall be accounted for in accordance with New Hanover County Schools Inventory Procedures. Donations Monetary donations to individual schools or the school system shall be properly recorded in the school or central accounting system, respectively. Proper accounting for donor-restricted gifts should be determined by the Chief Financial Officer. Non-monetary donations may be accepted by administrators with consideration given to any costs associated with the donation. All inventory and equipment donations shall be accounted for in compliance with New Hanover County Schools Inventory Procedures. CROSS REF: Policy 9600 Donating Technology Equipment Current practice codified 1986 Adopted: 04/14/87 Revised: 04/07/03 New Hanover County Public Schools, Wilmington, North Carolina

6 Policy: 3350 SCHOOL FUNDS School funds are those funds managed and accounted for by the individual school. The Board has established the following rules concerning the initiation and maintenance of school funds: The Chief Financial Officer finance officer is responsible for prescribing the forms and procedures to provide strong internal controls to safeguard the assets and provide proper accounting records. These procedures are to be followed by all personnel when handling the funds of the individual schools. The Finance Department shall provide training for the treasurers and other school personnel in the proper performance of the procedures for the school funds. The finance officer periodically makes, or causes to be made by others, an inspection of the books of the individual schools to determine that the prescribed policies and procedures are being followed. The finance officer assists in the training and retraining of treasurers and other school personnel in the proper performance of the procedures for the school funds. The Superintendent shall nominate to the New Hanover County Board of Education a responsible employee in each school other than the principal as treasurer of the school. Faithful performance of duties by all school personnel as specified in these regulations is expected and required. The Superintendent may remove from office a treasurer who, after notification that the procedures were not being properly carried out, does not correct the specified deficiency within a reasonable time. Receipts and Deposits Individual schools may choose as their depository a bank which uses the pooling method of collateralizing public funds. The Chief Financial Officer finance officer will shall maintain a list of approved banks. All funds received are deposited and kept at interest until needed for immediate expenditure. All investments of school funds are made by the Chief Financial Officer or designee finance officer. Interest earned should be credited to the revenues of the general fund net of any other service charge. All funds received by a school employee or agent other than the school treasurer shall be delivered promptly on the same day and/or the next business day to the school treasurer. All amounts received by the treasurer shall be deposited when the amount on hand at the end of the day equals $250 or more, or in any event a deposit shall be made on the last business day of the month. Funds should be deposited before the close of banking hours but night depository drops may be used as needed. All student fees for school sponsored clubs shall be approved by the Board as per Board Policy See Board Policy 8550 for fund raising requirements. Contracts and Purchasing All equipment shall is to be purchased either on state contract or as otherwise provided in the regulations of the State Purchase and Contract Division and local procedures. Contracts are required for all services paid through school funds and shall should be approved by 1 of 3

7 Policy: 3350 the principal. No principal shall is to enter into any contract extending beyond the end of the current school year. The Superintendent or designee may authorize a contract beyond the end of the current school year after adequate assurances are received that there are now, or will be, available adequate funds to make all required payments under contract, when such contracts are necessary for continued operations such as school pictures, athletic scheduling, and newspapers. Required payments include only those sums due up to the time at which the contract can be terminated for the convenience of the school. Schools may shall not enter into lease agreements without the written approval of the Chief Financial Officer finance officer. Lease purchase agreements require Board approval and must be in compliance with North Carolina General Statutes 115C-528. No change fund or petty cash fund may be established in any school without the prior written approval of the finance officer. Disbursements All payments shall be made by check signed by both the principal and treasurer of the school. Checks may also be signed by the Chief Financal Officer or Director of Finance finance officer or assistant finance officer. No expenditures shall be made from cash receipts. No salaries shall be paid directly from school funds to any employee. All payments shall be made through the central payroll process. Athletic officials are not considered school employees. Payments may be made to them directly; however, these payments must be properly reported to the Internal Revenue Service and the N. C. Department of Revenue on Tax Form No payments shall be made for personal services to any person currently in the employ of New Hanover County Schools except through the regular employee payroll. School Accounts The School Funds Chart of Accounts is defined in the Treasurer s Manual. No transfer or payment may be made from any account which does not conform to the requirements for approval of expenditures. To that extent, funds Accounts are classified in into four (4) categories as follows: Restricted Funds Those accounts for which the principal is in effect, a trustee of the funds and charged with the responsibility of managing and expending the funds for their intended use. It is the responsibility of the principal to determine which additional funds are to be treated as restricted funds. Restricted fund account balances carry forward from year to year. In some instances, a restricted fund account may be terminated at the end of the school year if the purpose of the restricted fund account no longer exists. a. School Organizations and Clubs accounts for which the school is the custodian of the assets. The principal must approve expenditures submitted by the organization for payment. Expenditures should support the purpose and function of the organization. Such organizations include but are not limited to clubs, classes (i.e., senior class), and school activities such as chorus and athletic activity. b. Special Projects - Accounts established to track specific projects, such as field trips, grants, or third party donations. for which fees or donations that are collected for specific purposes such as field trips or mini-grants. School Revenue These accounts are used to record receipts and expenditures related to specific fundraisers or activities. These accounts and provide a detailed accounting of 2 of 3

8 Policy: 3350 such activities. Expenditures are restricted to only those related to the purpose of the revenue activity account, such as school store, pictures, and vending. Proceeds from these activities shall may be transferred into the General Fund when the fundraiser is complete, but no later than the last day of this fiscal year. unless required to be transferred to the Central Office for system budgeting purposes (i.e.. gate receipts and after school programs). The General Fund This nonrestricted school fund is used to account for the general revenue of the school. Disbursements of such funds are limited to such expenditures that benefit the students or school as an entity, support the goals and strategies of the School Improvement Plan, and/or accomplish expectations set forth by the Superintendent. The Superintendent or designee will shall maintain develop General Fund Guidelines for appropriate expenditures. Cash Accounts The following three (3) cash accounts may be authorized for School Funds: a. Cash The cash account records all cash activity in the school bank account. b. Cash Management The cash management account records those funds invested by the Finance Department on behalf of the school. c. Change Fund Principals may authorize change funds as needed in an amount not to exceed $250 for Elementary and Middle Schools or $2,500 for High Schools. No expenditures are allowed from change funds. No obligation shall is to be incurred in excess of the current amount unobligated in a specific account except with the prior written approval of the finance officer. Transfers from one account to another are acceptable to prevent over obligation; however, when such transfers exceed $500 within the school year, written notice shall should be given to the Chief Financial Officer finance officer. All student fees for school sponsored clubs shall be approved by the Board as per Board Policy See Board Policy 8550 for fund raising requirements. The Superintendent may remove from office a treasurer who, after notification that the procedures were not being properly carried out, does not correct the specified deficiency within a reasonable time. Faithful performance of duties by all school personnel as specified in these regulations is expected and required. LEGAL REFS: NCGS 115C-443, 444, 445 and 448, 115C-528 CROSS REFS: Policy 8560 School-Sponsored Clubs And Student Activity Fees Policy 8550 School-Sponsored Fund Raising Activities Approved: 06/04/85 Revised: 04/14/87, 06/27/95, 09/05/95, 07/01/02 New Hanover County Schools, Wilmington, North Carolina 3 of 3

9 Policy: 3360 CASH MANAGEMENT AND INVESTMENTS POLICY SCOPE This Policy applies to all financial assets of the New Hanover County Board of Education. All fund resources shall be concentrated in order to maximize investment opportunities. These funds shall be accounted for in the Comprehensive Annual Financial Report. INVESTMENT OBJECTIVES Funds of the Board County will shall be invested in accordance with North Carolina General Statutes and this Cash Management and Investment Policy. The primary objectives, in priority order, of investment activities shall be safety, liquidity and yield. The Board's investments shall be undertaken in a manner that (1) seeks to ensure the preservation of capital in the overall portfolio, (2) provides for sufficient liquidity to meet the cash needs of the Board's various operations and (3) attains a fair market rate of return. Cash management functions will be conducted in such a manner as to insure that adequate funds will always be available to meet the Board's financial obligations and to provide the maximum amount of funds available for investment at all times. 1) Safety - Safety of principal is the foremost objective of the cash management program and, accordingly, the activities shall be undertaken in a manner that seeks to ensure the safety of funds on deposit and the preservation of capital. 2) Liquidity - The Chief Financial Officer shall prepare adequate forecasts of anticipated cash receipts and disbursements to permit the identification of the liquidity needs of the system. 3) Yield - The cash management activities shall support the investment activities by maximizing the funds available for investment by assuring that amounts due to the system are promptly collected, that funds received are properly accounted for and deposited daily in an official depository, and that disbursements are properly controlled. RESPONSIBILITY In accordance with NCGS, the Chief Financial Officer Finance Officer is charged with the responsibility of cash management and investment and is designated as Investment Officer of the Board. He may Duties may be delegated to one or more finance department staff members of his staff to perform the functions of cash management and investment Officer. Such delegation shall be in writing and will not relieve the Chief Financial Officer Finance Officer of the responsibility for all transactions undertaken. The standard of prudence to be used by the Investment Officer and his delegates shall be the "Prudent Investor" Rule, which states, "Investments shall be made with judgment and care, under circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the probable income to be derived." This standard of prudence shall be applied in the context of managing an overall portfolio. The Investment Officer and his delegates acting in accordance with North Carolina General Statutes, this policy, and written administrative procedures and exercising due diligence shall be relieved of personal responsibility for an investment credit risk, provided deviations from expectations are reported in a timely fashion and appropriate action is taken to control adverse developments. AUTHORIZED INVESTMENTS 1 of 4

10 Policy: 3360 Statutory authority for local government investments of local school administrative units in North Carolina is contained in NCGS, Chapter and Chapter 115C-443. Monies may be invested in the classes of securities contained in those general statutes, and no others. Monies may be deposited at interest at any bank, savings and loan, or trust company in this state in the form of certificates of deposit or other such forms of deposit as the Local Government Commission may approve. Investment deposits shall be secured as provided in NCGS 115C- 444(b). A general description of securities which the Board is legally authorized to invest in are: 1. Deposits at interest or purchase of certificates of deposits with any bank, savings and loan association or trust company in North Carolina, provided such deposits or certificates of deposit are secured by collateral. 2. Obligations of the United States of America. (U. S. Treasury Bills, Notes and Bonds). 3. Obligations of the State of N. C. 4. Bonds and notes of any N. C. local government or public authority. 5. Obligations maturing no later than 18 months after the date of purchase of the Federal Intermediate Credit Banks, the Federal Home Loan Banks, the Federal National Mortgage Association, the Banks for Cooperatives, and the Federal Land Banks. 6. Participating shares in the North Carolina Capital Management Trust, a mutual fund for local government investments, which is certified by the North Carolina Local Government Commission. 7. A commingled investment pool established and administered by the State Treasurer (STIF Account). 8. Prime quality commercial paper bearing the highest rating of at least one nationally recognized rating service and not bearing a rating below the highest by any nationally recognized rating service. 9. Bills of exchange of time drafts (Banker's Acceptances) drawn on and accepted by a commercial bank and eligible for use as collateral by member banks in borrowing from a Federal Reserve Bank, provided that the accepting bank or its holding company is either (1) incorporated in the State of North Carolina or (2) has outstanding publicly held obligations bearing the highest rating of at least one nationally recognized rating service and not bearing a rating below the highest by any nationally recognized rating service which rates the particular obligation. In addition to the statutory requirements described above, the following investment restrictions and portfolio limitations shall apply to cash management and investment practices of New Hanover County Board of Education: 2 of 4

11 Policy: No investments in Repurchase Agreements shall be made. 2. The combined total investment in commercial paper and banker's acceptances shall not exceed 35% of the total portfolio and the investment in commercial paper or banker's acceptance of a single issuer shall not exceed 15% of the total portfolio at the time of the investment. 3. All government securities and other negotiable instruments shall be held in safekeeping by the trust department of a third-party bank (not a party to the purchase of said securities). INVESTMENTS OF INDIVIDUAL SCHOOL FUNDS Individual schools are specifically prohibited by G. S. 115C-444 from directly investing funds in any instrument other than an interest bearing checking account. All funds to be invested must be transferred to the official depository of the Board of Education and invested by the Chief Financial Officer Investment Officer. COMPETITIVE SELECTION OF INVESTMENT INSTRUMENTS When investments are to be made, the investment officer shall determine which instrument shall be purchased and the desired maturity date. This determination will be based on known and projected cash flow requirements of the Board, current money market conditions, and the over-all portfolio balance. After determining the type of investment and the desired maturity date, he shall then obtain competitive bids of offered interest rates, or prices of desired securities, by telephone calls to as many banks and dealers as is feasible under the circumstances. The number of bids solicited will be based on several factors, such as time restraints, amount of funds being invested and the number of institutions who offer the desired security, but will not normally be less than three. The Investment Officer will accept the bid which provides the highest rate of return within the maturity required and within the perimeters of this policy. Under unusual or volatile money market conditions, the Investment Officer may exercise his prudent judgment and accept a firm bid without completing the normal solicitation process if the offered bid appears to be sufficiently attractive and may not remain available at the same rate if normal procedures are followed. The solicitation and receipt of bids shall be documented and retained for a period of two years by the Finance Department. In order to maintain portfolio balance and to increase yields, the trading of investment securities is often beneficial to the Board. Since these "swaps" are not normally susceptible to the bidding process, primarily due to simultaneous buy and sell executions and constant price changes due to market volatility, the normal bidding process may be waived by the Investment Officer in these transactions. INVESTMENT PARAMETERS PORTFOLIO MANAGEMENT AND BALANCE The Board's investment portfolio shall consist of three general categories: 1. Staggered Maturities: Investments scheduled to mature to meet known and anticipated cash needs on a particular date. These investments are generally certificates of deposit, commercial paper and banker's acceptances and typically range from 30 to 90 days to maturity. 2. Liquidity Reserve Investments: Demand investments and short-to-intermediate term U. S. Treasury securities which are held to provide liquidity in case of 3 of 4

12 Policy: 3360 unanticipated cash needs. These cash needs may be caused by unanticipated expenditures, revenue shortfalls, or bank wire transmission or other temporary problems in receiving expected funds. Prudent cash management dictates that reasonable reserves of cash or investments that can readily be converted to cash be maintained at all times. 3. Extended Maturities: Investments in government securities with maturities of one year. These investments are made to secure higher yields generally available for longer term investments. Diversification - To reduce credit risk, the investments shall be diversified by limiting investments to avoid over-concentration in securities from a specific issuer or business sector (excluding U.S. Treasury securities), and limiting investment in securities that have higher credit risks. To reduce interest rate risk, the investments shall be diversified by Investing in securities with varying maturities, and continuously investing a portion of the portfolio in readily available funds such as a mutual fund for local government investment certified by the Local Government Commission pursuant to NCGS (c)(8), currently The North Carolina Capital Management Trust. Maximum Maturities - To the extent possible, the Board shall attempt to match its investments with anticipated cash flow requirements. Unless matched to a specific cash flow, the Board will not directly invest in securities maturing more than two (2) years from the date of purchase. Competitive Bids - The Chief Finance Officer shall obtain competitive bids from at least three (3) brokers or financial institutions on all purchases of investment instruments purchased on the secondary market. REPORTING The Chief Financial Officer shall submit to the Local Government Commission the semiannual reports on the status of deposits and investments and reports of financial information in accordance with the requirements of NCGS and INTERNAL CONTROL, SAFEKEEPING AND CUSTODY The Chief Financial Officer Investment Officer shall establish a system of internal controls, which shall be documented in writing and reviewed by the Board's independent auditor. The controls shall be designed to prevent losses of public funds arising from fraud, employee error, misrepresentation by third parties, or imprudent actions by County employees. To protect against potential fraud and embezzlement, the negotiable securities of the Board of Education shall be secured through third-party custody and safekeeping procedures. LEGAL REFS: NCGS 115C-443, 115C-444(b), , (c)(8), , Adopted: 03/07/94 Revised: New Hanover County Public Schools, Wilmington, NC 42 of 4

13 New Policy: 3410 (Separate Policy 4610 into two policies with contract administration moved back to Finance) CONTRACT ADMINISTRATION Contract Administration Formal contracts between the school system and any firm or person offering to provide services to the school system must shall be executed in compliance with this Policy. All contracts must shall be preaudited in advance by the Chief Financial Officer Finance Officer. All approved contracts must shall be supported by a purchase order to properly encumber the funds. Formal contracts should be administered by each budget manager as follows: Contracts for services shall indicate the description of services required and the terms and conditions including length of contract and maximum cost. All contracts should shall be signed by the Superintendent or his designee, the contractor, and the Chief Financial Officer Finance Officer. All original contracts or standardized contract forms must shall be approved by the Board Attorney. The attorney need not review renewal agreements for previously approved contracts unless budget amendments have been added or proposed. All contracts which extend into another fiscal year must shall be approved by the New Hanover County Board of Education. All contracts made on behalf of the Board of Education involving expenditures at or exceeding $100,000 $50,000 must shall receive prior approval from the Board (exception: contracts necessary to fully implement construction or repair projects such as material testing, surveying, environmental testing or abatement and related services). The Superintendent is authorized to enter into contracts involving amounts up to $100,000 $50,000., and may The Superintendent at his/her discretion may delegate to certain administrators, in writing, the authority to approve contracts at specified levels up to $50,000. When a change order causes a contract to exceed Board approval levels, that the change order shall be approved by the Board and submitted along with a report of any previous change orders. For all contracts approved by the Board, any change order up to $100,000, which causes the cumulative contract amount to exceed 25% of the original contract, must shall be approved by the Board and submitted along with a report of any previous change orders. All additional 25% increments must shall be approved in the same manner. All change orders in excess of $100,000 require Board approval. LEGAL REF: NCGS 115C-441 New Hanover County Public Schools, Wilmington, North Carolina

14 Policy: 3520 SALARY DEDUCTIONS The New Hanover County Board of Education authorizes the following list identifies allowable employee salary deductions: All federally required deductions including such as, but not limited to, federal tax withholding, federal tax garnishments, and federal loan payments. All state required deductions including such as, but not limited to, state tax withholding, employee state retirement contributions, state tax garnishments, state loan payments, child support payments, and alimony payments. City and/or county property tax garnishments. Employee costs for optional health/dental/cancer insurance and cafeteria benefit plan contributions. North Carolina State Employees' Credit Union deposits and/or loan payments. Hanover Federal Credit Union deposits and/or loan payments. 403(b) Tax-Sheltered Annuity Plan Contributions limited to one provider per employee. Authorized providers must be approved by the Human Resources Department and sign a Service Provider Agreement to be kept on file with the Finance Department. NC 401(k) Plan, including Roth 401(k), contributions and loan payments. Escrowed Amounts for 11 th and 12 th month installments for ten (10) month employees only at Year-Round Schools. United Way Contributions. Teacher Employee Association Dues. LEGAL REF: NCGS 115C-316 Approved: 07/05/88 Revised: 11/13/90, 10/13/92, 07/05/94, 08/04/98, 11/13/07 New Hanover County Public Schools, Wilmington, North Carolina