53A-23-104 - Accumulations -- Expenditures from fund -- Public notice -- Transfer to other funds.
53A-23-104. Accumulations -- Expenditures from fund -- Public notice -- Transferto other funds.
(1) The money in the fund shall accumulate from year to year.
(2) However, the local school board may make expenditures from the fund if publicnotice is given stating the purpose for which the expenditures are to be made.
(3) The procedure for giving public notice is set forth in Section 53A-19-102.
(4) Expenditures shall be made for capital outlay costs only.
(5) Money in the fund at the end of the year shall remain intact and may not betransferred to any other fund or used for any other purpose.
Enacted by Chapter 2, 1988 General Session