(1) As provided by 20-9-212 and 20-9-504, MCA, the county treasurer is the custodian and depository of all school district monies except student extracurricular funds. Other bank accounts or depositories outside the control of the county treasurer shall be limited to:

(a) accounts with the state Board of Investments or investment firms maintaining a unified investment program in accordance with ARM 10.10.625;

(b) petty cash accounts;

(c) interim depository accounts for school lunch or driver's education fees;

(d) money held by the district in investment accounts established under 20-9-235, MCA; and

(e) gifts or endowments if such accounts are required by the donor.

(2) The county treasurer shall be the custodian for all other school district monies, including gifts, donations, endowments, interlocal agreements, direct federal or state revenues and district administered self-insurance programs.