273.13 - ADMINISTRATIVE EXPENDITURES.
273.13 ADMINISTRATIVE EXPENDITURES.
During the budget year beginning July 1, 1989, and the three
succeeding budget years, the board of directors of an area education
agency in which the administrative expenditures as a percent of the
area education agency's operating fund for a base year exceed five
percent shall reduce its administrative expenditures to five percent
of the area education agency's operating fund. During each of the
four years, the board of directors shall reduce administrative
expenditures by twenty-five percent of the reduction in
administrative expenditure required by this section. Thereafter, the
administrative expenditures shall not exceed five percent of the
operating fund. Annually, the board of directors shall certify to
the department of education the amounts of the area education
agency's expenditures and its operating fund. For the purposes of
this section, "base year" and "budget year" mean the same as
defined in section 442.6, Code 1989, and section 257.2, and
"administrative expenditures" means expenditures for executive
administration. Section History: Recent Form
86 Acts, ch 1226, § 19; 88 Acts, ch 1158, § 55; 89 Acts, ch 135,
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