Montana Code 20-9-512. Compensated absence liability fund
20-9-512. Compensated absence liability fund. (1) The trustees of a school district may establish a compensated absence liability fund for the purpose of paying:
Terms Used In Montana Code 20-9-512
- Contract: A legal written agreement that becomes binding when signed.
- 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
(a)any accumulated amount of sick leave that a nonteaching or administrative school district employee is entitled to upon termination of employment with the district in accordance with the provisions of 2-18-618; and
(b)any accumulated amount of vacation leave that a nonteaching or administrative school district employee is entitled to upon termination of employment with the district.
(2)The compensated absence liability fund may be used only for the stated purpose of this section.
(3)The trustees may transfer money from the general fund, within the adopted budget, to establish and maintain the compensated absence liability fund.
(4)The maximum amount in a reserve fund established under the provisions of subsections (1) and (3) may not exceed 30% of:
(a)the total school district liability for accumulated sick leave of nonteaching and administrative school district employees on June 30 of the current school fiscal year; and
(b)the total school district liability for accumulated vacation leave of nonteaching and administrative school district employees on June 30 of the current school fiscal year.
(5)For the purposes of this section, “administrative school district employee” means a school district employee who is employed in an administrative position and who accrues vacation leave as part of the employee’s contract with the school district.