Section R277-420-3 - Eligibility(1) A school district may qualify as financially distressed if the district: (a) has a deficit of three percent or more in its year end unappropriated maintenance and operation fund balance following a reduction for any amount in an undistributed reserve;(b) is unable to meet its financial obligations in a timely manner;(c) is unable to reduce the maintenance and operation deficit by 25 percent in its budget for the next year;(d) can demonstrate that it has made reasonable, local efforts to eliminate the deficit;(e) is financially incapable of meeting statewide educational standards adopted by the Board; and(f) has a deficit resulting from circumstances not subject to administrative decisions.(2) The Superintendent shall evaluate the criteria outlined in Subsection (1) and make a determination on whether a district is financially distressed following an on-site visit and consultation with the school district and local school board.Utah Admin. Code R277-420-3
Amended by Utah State Bulletin Number 2017-23, effective 11/7/2017