§ 39.500. What emergency and contingency funds are available?
63 words·~1 min read·
/us/cfr/t25/s§ 39.500·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Secretary:
(a)Must reserve 1 percent of funds from the allotment formula to meet emergencies and unforeseen contingencies affecting educational programs;
(b)Can carry over to the next fiscal year a maximum of 1 percent the current year funds; and
(c)May distribute all funds in excess of 1 percent equally to all schools or distribute excess as a part of ISEP.