Senate Bill 263
Introduced Senate Bill (S)
DIGEST
School corporations and deficit financing. Provides that a school corporation is not considered to be in deficit financing if the sum of the ending respective cash balance on June 30 of the immediately preceding state fiscal year of: (1) the school corporation's rainy day fund; plus (2) the school corporation's education fund; exceeds an amount equal to 25% of the school corporation's most recently adopted annual budget.
School corporations and deficit financing. Provides that a school corporation is not considered to be in deficit financing if the sum of the ending respective cash balance on June 30 of the immediately preceding state fiscal year of: (1) the school corporation's rainy day fund; plus (2) the school corporation's education fund; exceeds an amount equal to 25% of the school corporation's most recently adopted annual budget.
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