53A-19-104 - Limits on appropriations -- Estimated expendable revenue.
53A-19-104. Limits on appropriations -- Estimated expendable revenue.
(1) A local school board may not make any appropriation in excess of its estimatedexpendable revenue, including undistributed reserves, for the following fiscal year.
(2) In determining the estimated expendable revenue, any existing deficits arisingthrough excessive expenditures from former years are deducted from the estimated revenue forthe ensuing year to the extent of at least 10% of the entire tax revenue of the district for theprevious year.
(3) In the event of financial hardships, the board may deduct from the estimatedexpendable revenue for the ensuing year, by fund, at least 25% of the deficit amount.
(4) All estimated balances available for appropriations at the end of the fiscal year shallrevert to the funds from which they were appropriated and shall be fund balances available forappropriation in the budget of the following year.
(5) A local school board may reduce a budget appropriation at its regular meeting ifnotice of the proposed action is given to all board members and the district superintendent atleast one week prior to the meeting.
(6) An increase in an appropriation may not be made by the board unless the followingsteps are taken:
(a) the board receives a written request from the district superintendent that sets forth thereasons for the proposed increase;
(b) notice of the request is published:
(i) in a newspaper of general circulation within the school district at least one week priorto the board meeting at which the request will be considered; and
(ii) in accordance with Section 45-1-101, at least one week prior to the board meeting atwhich the request will be considered; and
(c) the board holds a public hearing on the request prior to the board's acting on therequest.
Amended by Chapter 388, 2009 General Session