Ohio Code 3313.848 – Disposition of unexpended funds under service agreement
(A) As used in this section:
Terms Used In Ohio Code 3313.848
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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.
(1) “Client” means a city, local, or exempted village school district, community school established under Chapter 3314. of the Revised Code, STEM school established under Chapter 3326. of the Revised Code, or political subdivision.
(2) “Governing body” means the board of education of a school district, governing authority of a community school, governing body of a STEM school, or governing body of a political subdivision.
(3) “Political subdivision” has the same meaning as used in section 3313.846 of the Revised Code.
(4) “Service agreement” means an agreement that a client has entered into with an educational service center under section 3313.843, 3313.844, 3313.845, 3313.846, or 3326.45 of the Revised Code and any subsequent amendment to that agreement.
(B) If at the end of a fiscal year for which a service agreement is in effect any of the funds paid directly by a client to the educational service center under the agreement are unexpended and unobligated, a client’s governing body may elect to have the service center retain the unexpended and unobligated funds for the purpose of applying them toward any payment the client will owe to the service center under a service agreement for the next fiscal year. The treasurer or fiscal officer of the client shall indicate on the client’s end-of-year financial report that unexpended funds have been retained by the service center and the amount of those funds.
(C) A client shall expend its funds retained under division (B) of this section only for services specifically set forth under a service agreement. The treasurer of the educational service center shall keep a record of the client’s expenditure and the service or services for which the expenditure was made. On at least an annual basis, or upon the request of the client’s governing body or its treasurer or fiscal officer, the treasurer of the service center shall notify the client’s treasurer or fiscal officer of the expenditures recorded under this division. The client’s treasurer or fiscal officer shall include that information in the financial report made by the treasurer or fiscal officer at the next meeting of the client’s governing body that occurs following receipt of the information.