Administrative Rules of Montana
Department 10 - EDUCATION
Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES
Subchapter 10.10.2 - Clearing Accounts
Rule 10.10.206 - INSUFFICIENT CASH AVAILABLE
Current through Register Vol. 18, September 20, 2024
(1) If the sum of the cash available in all funds of the district is insufficient to finance the transfers to the clearing accounts, a warrant must be issued from the depleted budgeted fund(s) for transfer to the clearing accounts. This transfer warrant must be registered by the county treasurer as outlined in 20-9-212, MCA.
(2) As an alternative, the district may temporarily abandon use of the clearing accounts, draw warrants against each fund, and register warrants as provided in 20-9-212, MCA. School districts may also issue revenue anticipation notes through the Economic Development Board of the Department of Commerce to provide temporary financing to pay warrants issued against budgeted funds. In addition, 7-6-2701, MCA, allows counties to invest in the registered warrants of school districts.
20-9-102, 20-9-201, 20-9-220, MCA; IMP, 20-9-102, 20-9-201, 20-9-220, MCA;
