Sec. 8. (a) If, as a result of a school’s efforts to incur less expense than was budgeted in a
fiscal year, the school has excess education fund money after the school’s expenses for the fiscal
year are paid in full, the school retains control of the excess.
Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.
Terms Used In Indiana Code 20-25-12-8
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(1) professional development of the school’s educators; and
(2) other classroom instructional purposes;
under the general guidelines developed by the board.
(c) The board may not consider a school’s excess money retained under this section when setting or approving the school’s budget for subsequent years.
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-3.1-9-8.]
As added by P.L.1-2005, SEC.9. Amended by P.L.244-2017, SEC.40.
