Minnesota Session Laws - 1987, Regular Session

  

                         Laws of Minnesota 1987 

                        CHAPTER 143-H.F.No. 1185 
           An act relating to education; clarifying that funds 
          may not be transferred from the debt redemption fund; 
          clarifying permanent transfers that are currently 
          permitted; amending Minnesota Statutes 1986, sections 
          121.912, subdivision 1; and 121.9121, subdivision 1.  
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  Minnesota Statutes 1986, section 121.9121, 
subdivision 1, is amended to read:  
    Subdivision 1.  [STATE BOARD AUTHORIZATION.] The state 
board may authorize a board to transfer money from any fund or 
account other than the debt redemption fund to another fund or 
account according to this section. 
    Sec. 2.  Minnesota Statutes 1986, section 121.912, 
subdivision 1, is amended to read:  
    Subdivision 1.  [LIMITATIONS.] Except as provided in this 
subdivision, sections 121.9121, 123.36, 475.61, and 475.65, a 
school district may not permanently transfer money from (1) an 
operating fund to a nonoperating fund; (2) a nonoperating fund 
to another nonoperating fund; or (3) a nonoperating fund to an 
operating fund.  Permanent transfers may be made from any fund 
to any other fund to correct for prior fiscal years' errors 
discovered after the books have been closed for that year.  
Permanent transfers may be made from the general fund to any 
other operating funds if the resources of the other fund are not 
adequate to finance approved expenditures from that other fund.  
Permanent transfers may also be made from the general fund to 
eliminate deficits in another fund when that other fund is being 
discontinued.  When a district discontinues operation of a 
district-owned bus fleet or a substantial portion of a fleet, 
permanent transfers may be made from the fund balance account 
entitled "pupil transportation fund appropriated for bus 
purchases" to the capital expenditure fund, with the approval of 
the commissioner.  The levy authorized pursuant to section 
275.125, subdivision 11a, shall be reduced by an amount equal to 
the amount transferred.  Any school district may transfer any 
amount from the unappropriated fund balance account in its 
transportation fund to any other operating fund or to the 
appropriated fund balance account for bus purchases in its 
transportation fund. 
    Approved May 14, 1987