Current through Reg. 50, No. 187; September 24, 2024
(1) It shall be
the duty of the superintendent of schools and district school board to take
whatever action is necessary during the fiscal year to keep expenditures and
obligations within the budgeted income, provided that:
(a) Any amount appropriated for the payment
of indebtedness during the fiscal year shall be paid as budgeted, or as the
budget may have been officially amended. Failure to make such payment shall be
deemed a violation of the school budget law.
(b) Any accounts carried over from the
previous year according to prescribed principles of accounting which are
charged to the previous year's business shall be paid from the first funds
available which may be used for that purpose by the school board. At no time,
including the close of the fiscal year, shall an overdraft be created or shown
against any fund or depository account.
(c) Cash balances remaining in any district
interest and sinking fund or from the proceeds of any bond issue not otherwise
restricted, after all obligations have been satisfied, shall be transferred to
another fund or funds as authorized by resolution of the school
board.
(2) No
expenditures shall be authorized or obligation incurred that is in excess of a
budgetary appropriation. The school board shall adopt procedures whereby
adjustments to the original budget are made, as needed, in order to comply with
this rule.
(a) The school board shall approve
amendments to the district school budget whenever the function and object
amounts in the accounts prescribed by the State Board for the budget form are
changed in the original budget approved by the school board.
(b) The school board may adopt procedures
whereby amendments to the Special Revenue - Other Fund are considered approved
by the school board at the time the board approves an entitlement grant, if
such grant application includes a budget summary. The effect of such grant
shall be reflected in the next monthly district financial report to the school
board.
Rulemaking Authority
1001.02(1),
1010.01,
1011.06 FS. Law Implemented
1010.01,
1011.05,
1011.06,
1011.60(5)
FS.
New 4-11-70, Amended 9-17-72, Repromulgated 12-5-74,
Formerly 6A-1.07, Amended 8-30-88,
8-20-17.
