Maine Revised Statutes Title 20-A Sec. 8464 – Budget failure
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The following applies in the event of a budget failure as defined in section 8301-A. [PL 1991, c. 518, §29 (AMD).]
1. Submission of a contingency plan. If a budget failure exists after August 1st of any fiscal year, the cooperative board shall submit to the state board a financial statement with an operational plan indicating how the cooperative board intends to reorganize or terminate the region‘s career and technical education programs.
[PL 1991, c. 518, §29 (AMD); PL 2005, c. 397, Pt. D, §3 (REV).]
Terms Used In Maine Revised Statutes Title 20-A Sec. 8464
- Budget failure: means the failure of a region, by August 1st of any fiscal year, to approve a budget for the region that is at least equal to the sum of the total allocations for career and technical education of the member school administrative units in the region. See Maine Revised Statutes Title 20-A Sec. 8301-A
- Career and technical education: means a course or program of education designed to create or improve job-related skills that is part of a secondary school or middle school level curriculum and approved by the commissioner according to this chapter. See Maine Revised Statutes Title 20-A Sec. 8301-A
- Cooperative board: means the governing body with statutory powers and duties for a career and technical education region. See Maine Revised Statutes Title 20-A Sec. 1
- 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.
- Region: means a quasi-municipal corporation established by the Legislature to provide career and technical education to secondary students and middle school level students that is comprised of all the school administrative units within the geographical boundaries set forth for each career and technical education region in section 8451. See Maine Revised Statutes Title 20-A Sec. 8301-A
- State board: means the State Board of Education. See Maine Revised Statutes Title 20-A Sec. 1
- Unit: means a school administrative unit. See Maine Revised Statutes Title 20-A Sec. 8301-A
- Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72
2. Payment of the state subsidy to the cooperative board. If a budget failure exists, the State shall pay directly to the cooperative board each unit‘s state subsidy for career and technical education within the region.
[PL 1991, c. 518, §29 (AMD); PL 2005, c. 397, Pt. D, §3 (REV).]
3. Expenditure of available funds. If a budget failure exists after June 30th, the cooperative board may expend balances and available revenues until the region is reorganized or terminated or until a budget is approved pursuant to this chapter.
[PL 1991, c. 518, §29 (AMD).]
4. Anticipatory borrowing. The cooperative board may borrow funds not to exceed 50% of the state subsidy anticipated to be received in the fiscal year by units in the region. Such borrowing must be repaid within the same fiscal year.
[PL 1991, c. 518, §29 (AMD).]
SECTION HISTORY
PL 1981, c. 693, §§5,8 (NEW). PL 1991, c. 518, §29 (AMD). PL 2005, c. 397, §D3 (REV).