1997 Minnesota Statutes

     121.915 Reorganization operating debt. 

    The "reorganization operating debt" of a school district 
 means the net negative undesignated fund balance in all school 
 district funds, other than capital expenditure, 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 124.2725; or 

    (2) June 30 of the fiscal year before the effective date of 
 reorganization according to section 122.22 or 122.23. 

    HIST: 1991 c 265 art 6 s 3; 1996 c 412 art 13 s 7