§ 353.361 — Temporary advance from State General Fund for payment of money due from State Education Fund

Nevada § 353.361

• Jurisdiction: Nevada
• Title 31: PUBLIC FINANCIAL ADMINISTRATION
• Ch. 353: State

Text

1. If the Superintendent of Public Instruction determines that the money due from the State Education Fund to a county school district, charter school or university school for profoundly gifted pupils pursuant to NRS 387.185 exceeds the amount of money available in the State Education Fund because of a delay in expected receipts, and a temporary advance requested pursuant to NRS 387.1213 will not provide adequate funding to address the shortfall, he or she may request from the Director of the Office of Finance a temporary advance from the State General Fund for the payment of such money due.
2. Upon receipt of a request made pursuant to subsection 1, the Director of the Office of Finance shall make a recommendation to the Interim Finance Committee to approve the temporary advance in whole or in part or to deny the request. If the Interim Finance Committee approves the request in whole or in part, the Director of the Office of Finance shall notify the State Controller and the Fiscal Analysis Division of the Legislative Counsel Bureau of the amount approved by the Interim Finance Committee, and the State Controller shall draw his or her warrant upon receipt of such a notice of approval. Any money which is temporarily advanced from the State General Fund pursuant to this section must be repaid by August 31 following the end of the fiscal year in which the temporary advance is made.

Legislative History

(Added to NRS by 2023, 3050 )