Montana Code 20-9-514. Impact aid fund
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20-9-514. Impact aid fund. (1) The trustees of a district that receives federal funds under the provisions of impact aid, as provided in 20 U.S.C. § 7701, et seq., shall establish an impact aid fund. Money received under the provisions of 20 U.S.C. § 7701, et seq., must be deposited with the county treasurer to the credit of the impact aid fund.
Terms Used In Montana Code 20-9-514
- 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
- 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
- Trustees: means the governing board of a district. See Montana Code 20-1-101
(2)The expenditure of money from the impact aid fund must be made pursuant to 20 U.S.C. § 7701, et seq. The impact aid fund must be administered pursuant to the financial administration provisions of this title for nonbudgeted funds.