When the necessity for a fund has ceased to exist, the balance may be transferred to another fund or account by board resolution, as allowed by law. School district monies received without a designated purpose may be transferred in this manner. School district monies received for a specific purpose or upon vote of the people may only be transferred, by board resolution when the purpose for which the monies were received has been completed. Voter approval is required to transfer monies to the general fund from the capital projects fund and debt service fund.
It is the responsibility of the board secretary to make recommendations to the board regarding transfers and to provide the documentation justifying the transfer.
Legal Reference: Iowa Code §§ 24.21-.22; 279.8; 278.1; ch. 298A
701.3 Financial Records
704.2 Sale of Bonds
Approved 11-15-04 Reviewed 12-15-08, 12-22-15 3-18-2019 Revised 3-18-2019