Title 57 — Taxation

Each school district in this state may establish and maintain a special reserve fund, subject to the limitations in section 57-15-14.2. The balance of moneys in the fund may not exceed that which could be produced by a levy of fifteen mills in that district for that year.

1. Moneys in the special reserve fund may be deposited, held, or invested in the same manner as the sinking fund of the district or in the purchase of shares or securities of federal savings and loan associations or state-chartered building and loan associations, within the limit…

Any school district having on hand funds, other than sinking or building funds, which are not otherwise encumbered, and which are not required for the payment of the items contained in the current operating budget, by a resolution of the governing board of the school district, ma…

Repealed by S.L. 2015, ch. 137, § 38.

Such special reserve fund and the funds therein may not be considered in determining the budget or the amount to be levied for each school fiscal year, for normal tax purposes, but must be shown in such budget as a special trust fund, and may not be deducted therefrom as otherwis…

Repealed by S.L. 1997, ch. 489, § 4. 57-19-07. Limitation on amount drawn from fund - Tax collections used to restore fund. Repealed by S.L. 1997, ch. 489, § 4.

Repealed by S.L. 1997, ch. 489, § 4.

If a school district considered all or part of its special reserve fund in determining its budget and deducted all or part of its special reserve fund from the amount necessary to be levied for a fiscal year, the district may transfer from its special reserve fund into its genera…

Repealed by S.L. 2013, ch. 13, § 64.

If collections from taxes levied for the current budget are insufficient to meet the requirements of the budget for teacher salaries, heat, light, and fuel, a majority of the school board may direct the school district business manager to draw on funds in the special reserve fund…