Iowa Code 257.7 – Authorized expenditures
Current as of: 2023 | Check for updates
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1.
Budgets.
School districts are subject to chapter 24. The authorized expenditures of a school district during a base year shall not exceed the lesser of the budget for that year certified under section 24.17 plus any allowable amendments permitted in this section, or the authorized budget, which is the sum of the combined district cost for that year, the actual miscellaneous income received for that year, and the actual unspent balance from the preceding year.
Terms Used In Iowa Code 257.7
- Base year: means the school year ending during the calendar year in which a budget is certified. See Iowa Code 257.2
- Budget year: means the school year beginning during the calendar year in which a budget is certified. See Iowa Code 257.2
- Expenditures: means the total amounts paid from the general fund of a school district. See Iowa Code 257.2
- Miscellaneous income: means the receipts deposited to the general fund of the school district but not including any of the following:a. See Iowa Code 257.2
- School: means an agency of the state or political subdivision of the state, individual, partnership, company, firm, society, trust, association, corporation, or any combination which meets any of the following criteria:
a. See Iowa Code 261B.2- School district: means a school corporation organized under chapter 274. See Iowa Code 257.2
- year: means twelve consecutive months. See Iowa Code 4.1
2.Budget amendments.If actual miscellaneous income for a budget year exceeds the anticipated miscellaneous income in the certified budget for that year, or if an unspent balance has not been previously certified, a school district may amend its certified budget.
- School: means an agency of the state or political subdivision of the state, individual, partnership, company, firm, society, trust, association, corporation, or any combination which meets any of the following criteria: