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The "reorganization operating debt" of a school district means the net negative unreserved
fund balances in all school district funds, other than building construction, debt redemption, and
trust and agency, calculated in accordance with the uniform financial accounting and reporting
standards for Minnesota school districts as of:
(1) June 30 of the fiscal year before the first year that a district receives revenue according to
section 123A.39, subdivision 3; or
(2) June 30 of the fiscal year before the effective date of reorganization according to section
123A.46 or 123A.48.
History: 1991 c 265 art 6 s 3; 1996 c 412 art 13 s 7; 1998 c 397 art 6 s 124; art 11 s 3;
2004 c 294 art 1 s 5; 1Sp2005 c 5 art 1 s 7

Official Publication of the State of Minnesota
Revisor of Statutes