20-15-321. Current unrestricted subfund cash reserve.
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/mt/title-20/chapter-15/part-3/20-15-321·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.