Utah Administrative Code
Topic - Education
Title R277 - Administration
Rule R277-420 - Aiding Financially Distressed School Districts
Section R277-420-2 - Definitions
Universal Citation: UT Admin Code R 277-420-2
Current through Bulletin 2024-06, March 15, 2024
(1)
(a) "Interfund transfer" means a transaction
which withdraws money from one fund and places it in another without
recourse.
(b) An interfund transfer
is regulated by statute and Board rules.
(c) "Interfund transfers" do not include
interfund loans in which money is temporarily withdrawn from a fund with full
obligation for repayment during the fiscal year.
(2) "Without recourse" means there is no obligation to return withdrawn money to the fund from which it was transferred.
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