South Carolina Code 59-146-60. State Board of Education notification to State Fiscal Accountability Authority
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The State Board of Education, by resolution, shall notify the State Fiscal Accountability Authority of the following:
(1) the amount then required for allocation to local school districts for school facilities for the next fiscal year;
Terms Used In South Carolina Code 59-146-60
- 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.
- School facilities: means only those facilities defined as 'school facilities' in § 59-144-30. See South Carolina Code 59-146-30
- State board: means the State Board of Education. See South Carolina Code 59-146-30
- State school facilities bonds: means general obligation bonds of the State of South Carolina issued under the authority of this chapter. See South Carolina Code 59-146-30
(2) a tentative time schedule setting forth the period of time during which the sum requested will be expended;
(3) a debt service table showing the annual principal and interest requirements for all state school facilities bonds then outstanding; and
(4) the total amount of all state school facilities bonds issued.
This notification shall be presented to the State Fiscal Accountability Authority by March first of each year.