Note: This version of section effective 7-1-2024. See also preceding version of this section, effective until 7-1-2024.

     Sec. 11. (a) Only after the transfer is authorized by the governing body in a public meeting with public notice, money in the operations fund may be transferred to the education fund to cover expenditures that are allocated to student instruction and learning under IC 20-42.5. The amount transferred from the operations fund to the education fund shall be reported by the school corporation or, if applicable, charter school, to the department. The transfers made during the:

Terms Used In Indiana Code 20-40-18-11 v2

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • 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) first six (6) months of each state fiscal year shall be reported before January 31 of the following year; and

(2) last six (6) months of each state fiscal year shall be reported before July 31 of that year.

     (b) The report must include a description of each purpose for which a transfer was made and the amount of the transfer that corresponded to each purpose.

     (c) The department must post the report submitted under subsection (a) on the department’s website.

As added by P.L.244-2017, SEC.86. Amended by P.L.201-2023, SEC.188.

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