Montana Code 20-15-321. Current unrestricted subfund cash reserve
Current as of: 2023 | Check for updates
|
Other versions
20-15-321. Current unrestricted subfund cash reserve. At the end of each school fiscal year the board of trustees of a community college district may designate a portion of the current unrestricted subfund end-of-the-year cash balance as a cash reserve for the purpose of paying current unrestricted subfund warrants issued by the district from July 1 to November 30 of the ensuing school fiscal year. The amount of the current unrestricted subfund cash balance that is earmarked as cash reserve may not exceed 10% of the final general fund budget for the ensuing school fiscal year.
Terms Used In Montana Code 20-15-321
- district: means the territory, regardless of county boundaries, organized under the provisions of this title to provide public educational services under the jurisdiction of the trustees prescribed by this title. See Montana Code 20-6-101
- 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.
- fund: means a separate detailed account of receipts and expenditures for a specific purpose as authorized by law or by the superintendent of public instruction under the provisions of subsection (2). See Montana Code 20-9-201
- school: means an institution for the teaching of children that is established and maintained under the laws of the state of Montana at public expense. See Montana Code 20-6-501
- Trustees: means the governing board of a district. See Montana Code 20-1-101