Indiana Code 20-45-8-26. Budget for operations fund
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Terms Used In Indiana Code 20-45-8-26
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- 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.
- county auditor: means the county auditor of a qualified county. See Indiana Code 20-45-8-5
- Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
- fund: means the county school distribution fund:
Indiana Code 20-45-8-6
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- qualified school corporation: means a school corporation that has under its jurisdiction any territory that is located in the qualified county. See Indiana Code 20-45-8-10
- tax: means the county supplemental school financing property tax to be levied by the board of county commissioners of a qualifying county under this chapter. See Indiana Code 20-45-8-12
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
Sec. 26. Receipts from the fund shall be credited by each qualified school corporation to its operations fund. In making its budget, each qualified school corporation shall take into account its anticipated receipts from the fund. The county auditor, before July 15 of each year, shall certify to each qualified school corporation the amount of its entitlement from the fund to be used in the preparation of its budget. Any qualified school corporation may also appropriate its entitlement by emergency appropriation in the same manner as any property tax receipt.
[Pre-2006 Recodification Citation: 21-2-13-8 part.]
As added by P.L.2-2006, SEC.168. Amended by P.L.244-2017, SEC.95.