Effective 1/24/2018 53G-4-702. School board reserve fund. Each local school board may establish and maintain a reserve fund to accumulate funds to meet the capital outlay costs of the school district, including costs for planning, constructing, replacing, improving, equipping, and furnishing school buildings and purchasing school sites. Renumbered and Amended by Chapter 3, 2018 General […]
Effective 1/24/2018 53G-4-703. Revenues to be allocated to fund. A local school board may annually allocate to the fund any revenues from the state which are made available for capital outlay purposes, and not otherwise earmarked, and such other revenues as the school district may raise locally for this purpose. Renumbered and Amended by Chapter […]
Effective 1/24/2018 53G-4-704. Building Reserve Fund — Investment of fund. (1) The fund shall be known as the Building Reserve Fund of _________ (name of school district) School District. (2) Any interest or capital gains accrue to the benefit of the fund. (3) The fund may only be invested as provided in Title 51, Chapter […]
Effective 1/24/2018 53G-4-705. Accumulations — Expenditures from fund — Public notice — Transfer to other funds. (1) The money in the fund shall accumulate from year to year. (2) However, the local school board may make expenditures from the fund if public notice is given stating the purpose for which the expenditures are to be […]
