Administrative Rules of Montana
Department 10 - EDUCATION
Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES
Subchapter 10.10.3 - Special Accounting Practices
Rule 10.10.312 - COMPENSATED ABSENCE LIABILITY FUND
Universal Citation: MT Admin Rules 10.10.312
Current through Register Vol. 18, September 20, 2024
(1) If the ending fund balance in the compensated absence liability fund (CALF) on June 30 exceeds 30% of the maximum liability on June 30 as defined in 20-9-512, MCA, the excess balance shall be transferred back to the general fund.
(2) In accordance with generally accepted accounting principles, transfers due to/from the CALF are to be accrued prior to year's end in the district's accounting records as operating transfers. The actual cash transfer to/from the CALF shall be made before September 30th of the next fiscal year.
20-9-102, MCA; IMP, 20-9-512, MCA;
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