10.10.313    BUILDING RESERVE FUND

(1) Expenditures from the building reserve fund established under 20-9-503 , MCA, are limited to the cash balance available in the fund.

(2) Short-term interfund loans from a district's other funds may be used to fund expenditures in advance of tax collections in the building reserve fund. Such interfund loans must be repaid by year-end. Short-term interfund loans between school districts shall not be made.

(3) Proceeds of a loan to be repaid from the building reserve fund established under 20-9-503 , MCA, must be deposited in the building reserve fund.

History: 20-9-102, MCA; IMP, 20-9-503, MCA; NEW, 1994 MAR p. 1824, Eff. 7/8/94; AMD, 1998 MAR p. 1719, Eff. 6/26/98.