Administrative Rules of Montana
Department 10 - EDUCATION
Chapter 10.10 - SPECIAL ACCOUNTING PRACTICES
Subchapter 10.10.3 - Special Accounting Practices
Rule 10.10.316 - DISTRICT RETIREMENT FUND
Current through Register Vol. 18, September 20, 2024
(1) School districts will report retirement fund expenditures on the trustees' financial summary either by:
(2) Districts may not partially distribute retirement fund expenditures to some functions and not to all functions. Expenditures must be reported using either the method in (1) (a) or (1) (b) but not both.
(3) A district that paid retirement benefits for federally funded employees in excess of the limit imposed by 20-9-501, MCA, must reimburse the district retirement fund in the fiscal year the error is detected using current year grant funds or, if the grant project has closed, using nonfederal funds. A reimbursement made after the year in which the charges exceeded the limit must be recorded as a prior period expenditure in the fund making the reimbursement.
20-9-102, 20-9-201, MCA; IMP, 20-9-103, 20-9-502, MCA;
