Arizona school boards could move money left from gifts, grants, and bequests into a separate fund when the terms allow, and must vote before spending it.
After spending gifts, grants, and bequests as intended, district boards could use leftover money to lower taxes or move it to a separate fund when the terms allow. Accommodation schools have a carryover rule.
Each district board would keep a separate fund for transferred money. A majority would have to approve each payment outside the routine group vote, and districts could not move operating or unrestricted capital money into it.
School boards would close the district bank accounts identified in the bill. They would send any money left to the county treasurer for the separate fund.
District boards would choose to use eligible leftover money to lower district taxes or place it in the additional monies fund. This covers money left from gifts, grants, and bequests received by school districts. The choice must follow the terms under which the money was given. For accommodation schools, the county treasurer would carry an allowed balance forward for the next budget year. The choice applies after spending for the money’s intended purpose.
Each district board would keep an additional monies fund and approve each payment by majority vote before spending it. This applies to every Arizona school district board and its additional monies fund. The board could use the money for any lawful purpose. It could not approve payments through a consent agenda, which groups routine items into one vote. A district could not move money from its operating or unrestricted capital funds into this fund. The board would have to approve each payment before the money is spent.
District boards would close the specified bank accounts and send any money left to the county treasurer. This applies to each district’s account opened under section 15-1224. The county treasurer would deposit the money in the district’s additional monies fund.
No hearings or votes scheduled.