Section 14.17.505. Fund balance in school operating fund.

Latest version.

   (a) A district may not accumulate in a fiscal year an unreserved portion of its year-end fund balance in its school operating fund, as defined by department regulations, that is greater than 10 percent of its expenditures for that fiscal year.
   (b) The department shall review each district's annual audit under AS 14.14.050 for the preceding fiscal year to ascertain its year-end operating fund balance. The amount by which the unreserved portion of that balance exceeds the amount permitted in (a) of this section shall be deducted from the state aid that would otherwise be paid to the district in the current fiscal year.

Authorities

14.03.310;14.16.050

Notes

Implemented As

4 AAC 09.120
4 AAC 09.160

References

4 AAC 06.121
4 AAC 09.160
AS 14.03.310 Student allotments.
AS 14.16.050 Applicability of education laws.

History

(Sec. 2 ch 83 SLA 1998)

                    
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