20-7-713. Adult education fund operating reserve.
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/mt/title-20/chapter-7/part-7/20-7-713·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
20-7-713 . Adult education fund operating reserve. At the end of each school fiscal year, the trustees of a school district that operates an adult education program may designate the portion of the adult education end-of-the-year fund balance that is to be earmarked as operating reserve for the purpose of paying, whenever a cash flow shortage occurs, adult education fund warrants issued by the district from July 1 through June 30 of the ensuing school fiscal year. The amount of the adult education fund balance that is earmarked as operating reserve may not exceed 35% of the final adult education fund budget for the ensuing school fiscal year.