Iowa Admin. Code r. 281-98.111

Current through Register Vol. 47, No. 10, November 13, 2024

Rule 281-98.111 - Emergency levy fund

A school district may levy a tax for the emergency fund upon the approval of the state appeals board. Once the levy has been received, the district may request approval of the school budget review committee to transfer the funds to any other fund of the district for the purpose of meeting deficiencies in a fund arising within two years of a disaster as defined in Iowa Code section 29C.2(1).

(1)Sources of revenue in the emergency levy fund. Sources of revenue for the emergency levy fund include a tax levy not to exceed $0.27 per $1,000 of assessed value of taxable property, and interest on those moneys.

(2)Appropriate uses of emergency levy fund. Appropriate expenditures in the emergency levy fund include only transfers to other funds for the purpose of meeting deficiencies in a fund arising within two years of a disaster and upon the approval of the school budget review committee.

(3)Inappropriate uses of emergency levy fund. Inappropriate expenditures in the emergency levy fund include any expenditures other than a transfer to another fund and any transfer not approved by the school budget review committee.

Iowa Admin. Code r. 281-98.111

ARC 8054B, lAB 8/26/09, effective 9/30/09

Adopted by IAB April 17, 2024/Volume XLVI, Number 21, effective 5/22/2024