§ 22-44-112 — Transfer of moneys

(1) A board of education shall not transfer
moneys from one fund to another, except as authorized and in the manner
prescribed by this part 1.

(2) (a) A board of education may transfer by resolution any unencumbered
moneys from one fund to another, except the transportation fund, the special
building and technology fund, or the bond redemption fund.

(b) Repealed.

(3) (a) and (b) Repealed.

(c) If the resolution authorizes expenditures in excess of the amount
budgeted and appropriated to a particular function, and there is no unencumbered
appropriation available in another function to transfer to the function wherein
additional expenditures are needed, the board of education may issue warrants to
be registered, in order to provide for such excess expenditures. The total amount of
warrants which may be issued and registered pursuant to this paragraph (c) during
any one fiscal year shall not exceed an amount equal to that which could be raised
by a two mill levy for the calendar year in which the second half of such fiscal year
is included on the valuation for assessment of the taxable property located within
the territorial limits of the school district. Transfers and excess expenditures
pursuant to this paragraph (c) shall be deemed to be budgeted and appropriated for
the purpose specified in the resolution upon the effective date of the resolution.

(4) Proceeds from the sale of bonds remaining after the completion of the
project for which such bonds were authorized may be transferred to the bond
redemption fund or, in the event all bonds have been redeemed, to the general fund.
Moneys remaining in the bond redemption fund after all obligations of bonded
indebtedness have been satisfied shall be transferred to the general fund. Any
moneys remaining in a particular account in the bond redemption fund, after all
obligations of bonded indebtedness of that particular account have been satisfied,
shall be transferred to another account within said bond redemption fund which
still has outstanding obligations of bonded indebtedness.

(5) Repealed.

(6) Notwithstanding the provisions of this section, a local district college
board of trustees may transfer moneys from the student activity fund and the food-service fund, or moneys from any other auxiliary enterprise fund, to the general
obligation or revenue bond fund.

Legislative History

Source: L. 64: p. 622, � 12. C.R.S. 1963: � 123-32-12. L. 67: p. 975, � 1. L. 75: (1) and (2)(a) amended and (2)(b), (3)(a), (3)(b), and (5) repealed, pp. 707, 708, �� 4, 10, effective July 14. L. 83: (2)(a) amended, p. 758, � 2, effective April 21. L. 86: (6) amended, p. 844, � 2, effective July 1. L. 88: (2)(a) amended, p. 814, � 20, effective May 24. L. 90: (3)(c) amended, p. 1083, � 42, effective May 31. L. 91: (2)(a) amended, p. 539, � 5, effective May 1. L. 97: (2)(a) amended, p. 75, � 3, effective March 24; (2)(a) amended, p. 585, � 12, effective April 30. L. 2009: (2)(a) amended, (SB 09-256), ch. 294, p. 1570, � 39, effective May 21.