Code No. 701.7
TRANSFER OF INACTIVE ACCOUNT FUNDS
When the necessity for maintaining any fund has ceased to exist, and a balance remains in that fund, the Board of Directors may by resolution transfer the balance to the fund or funds designated by the Board, unless other provisions of law apply. However, balances remaining in funds approved by the voters for a specific purpose or funds received for a specific purpose shall only be transferred when the purpose for which the monies were received has been completed. Voter approval is required to transfer monies to the general fund from the capital projects fund, physical plant and equipment levy fund, debt service fund or public education and recreation levy fund.
It shall be the responsibility of the Director of Business Services to make recommendations to the Board regarding transfers and to provide the documentation justifying the transfer.
Date of Review: April 9, 2018
Date of Revision:
August 13, 2012
8.51, Chapter 24, Chapter 257, 278.1, 297.22, Chapter
298, Chapter 298A, 618.14, 721.2, Code of Iowa
DECORAH COMMUNITY SCHOOL BOARD OF DIRECTORS