13-16-1. Sources of school district funds. School district funds are all moneys received by the school district or schools within said district or as a result of an activity carried on by the said school. Said funds come from the following sources: taxes, income from school property; school district borrowing through bonds or promissory notes; […]
13-16-10. Annual levy to pay school district bonds–Irrepealable–Exclusive of maximum levy. At or before the issuing of any bonds the school board shall provide for the collection of an annual tax sufficient to pay the interest and principal thereof when due, for the entire term of years for which said bonds are to run, by […]
13-16-11. Levy of annual tax for school district bonds–Reduction on accumulation of surplus in bond redemption fund. The county auditor shall have the power and the duty to levy a tax from year to year against the property of the district in accordance with such resolution to meet said bond redemption fund payments when due […]
13-16-12. Refunding bond proceeds placed in bond redemption fund–Reduction of annual tax levy. Money received from the sale of refunding bonds shall be placed in the bond redemption fund to be held, or invested, and applied to the payment of the bonds to be refunded. The school board shall cause to be certified to the […]
13-16-13. Tax proceeds paid into bond redemption fund–Purposes for which used. When the tax levied under §13-16-11 shall be collected the business manager shall enter the same into the bond redemption fund and the same shall not be used for any other purpose and shall be applied to the payment of bonds when due and […]
13-16-14. Restriction on transfers from bond redemption fund. No money in the bond redemption fund may be transferred to any other fund unless a sufficient amount of money is retained in this fund to retire all outstanding bonds together with such interest as will accrue on such bonds. If any money is transferred from the […]
13-16-15. Designation of depositories for school district–Resolution. The school board of every school district shall by resolution duly adopted at any annual, regular, or special meeting designate any bank or banks within the state as depositories for the funds or any part or parts of the funds of the district. Source: SDC 1939, §15.2524; SL […]
13-16-15.1. Domestic savings and loan associations as official depositories–Restrictions. Domestic savings and loan associations whether chartered by this state or by the United States are official depositories for school district funds; provided such funds are invested only in the accounts of such associations which are insured by the federal Savings and Loan Insurance Corporation. The […]
13-16-18. Deposit and investment of fund accumulations–Crediting of interest–Maturity of bond redemption fund investments–Filing of resolutions. All accumulations in all school district funds shall be deposited in lawful depositories in checking accounts, savings accounts, or time deposits, or invested, except as hereinafter limited, in: (1)Bonds, registered warrants, or promissory notes of the school district making […]
13-16-18.1. Domestic federal credit union as public depository–Requirement. Any domestic federal credit union chartered by the United States is a qualified public depository for school district funds if such funds are invested in accounts which are insured by the National Credit Union Administration. Source: SL 1987, ch 71, §3; SL 1988, ch 27, §2.
13-16-19. Custodial funds–Stewardship–Designation of employee–Surety bond. The school board shall prescribe policies and procedures governing the stewardship of custodial funds consistent with provisions of this title. The school board may designate an employee of the school district to be in charge of each custodial fund. The employee designated, if other than the business manager, shall […]
13-16-2. Funds to comport with generally accepted accounting principles. All school district funds shall be placed in funds as defined in §4-4-4. Source: SL 1955, ch 41, ch 10, §§1, 2, 4; SDC Supp 1960, §§15.2201, 15.2202, 15.2204; SL 1963, ch 74, §2; SL 1963, ch 75, §1; SL 1964, ch 40; SL 1965, ch […]
13-16-20. Disbursements–Records–Receipts–Payment of claims–Serially numbered ticket sales–Destruction of records. The employee in charge of a custodial fund may issue checks for disbursements from the fund. Unless required by the school board, the disbursements do not require prior approval by the board nor signature of the presiding officer of the board or the business manager. The […]
13-16-21. Custodial funds–Monthly and annual reports–Audits. The employee of the school district designated by the board to be in charge of a custodial fund shall monthly and annually submit reports to the school board. The fund shall be audited as part of the regular audit of the school district. Source: SL 1955, ch 41, ch […]
13-16-24. Unlawful contracts and warrants void. Every contract made or check or registered warrant issued in excess of the issuing capacity of the district as restricted in this title is void and is not an obligation of the district. Source: SL 1955, ch 41, ch 10, §14; SDC Supp 1960, §15.2214; SL 1975, ch 128, […]
13-16-26. Transfers between school district funds. All or any part of a surplus of any school district fund, except the capital outlay fund provided by §§13-16-6 to 13-16-9, inclusive, and the special education fund provided by §13-37-16 may be transferred to any other school district fund. Only a school district with a plan for reorganization […]
13-16-26.2. Transfers from general fund–Prohibited–Exceptions. Notwithstanding §13-16-26, no school district may transfer any funds, exclusive of federal funds and wind energy tax revenue that is defined in §13-13-10.1 and apportioned pursuant to §10-35-21, from the general fund to the capital outlay fund, bond redemption fund or the capital projects fund. The authority provided by this […]
13-16-26.3. Transfer of moneys between funds in newly consolidated districts–Restrictions–Reversion of funds–Promulgation of rules. Notwithstanding any other provision of this chapter, if two or more school districts consolidate, for one year after the effective date of the consolidation pursuant to §13-6-61, the newly formed school district may transfer any money from its general fund to […]
13-16-26.4. Transfer of certain special education funds to carry out activities under Elementary and Secondary Education Act. Notwithstanding the provisions of §13-16-26, as provided by 20 U.S.C. §1413 as amended through July 1, 2005, in any fiscal year in which a school district is allocated federal IDEA funds greater than the allocation received in the […]
13-16-28. Audit of school district books called by state, school board, or voters. For any necessary reason an audit of the books of any school district may be called at any time by the auditor-general of the state, the school district board, or the voters of the school district by petition signed by twenty percent […]
