HCS SB 543 -- TRANSFERS OF SCHOOL DISTRICT FUNDS

This bill permits Campbell School District (Dunklin County) to
make transfers of windfall moneys that have accumulated in the
incidental fund to the capital projects fund in excess of the
amount permitted by statute until June 30, 2003, under certain
conditions.  The bill also revises the method of calculating and
the conditions for expenditures from the incidental fund for
capital expenditures related to classroom instruction and
transfers from the incidental fund to the capital projects fund
for districts by eliminating the current 6 and 18 cent transfers
and substituting formulas based on the greater of a specified
percentage of the guaranteed tax base or a percentage of the
district's entitlement.  Conditions under which a balance may be
built with transfers include the adoption of a resolution of the
district school board that details the projects, timetables, and
adherence to teacher salary compliance.  Districts which have
lease purchases incurred after January 1, 1997, must have a levy
in the capital projects fund sufficient to generate revenues
equal to the amount of the purchases.

Missouri House of Representatives
Last Updated November 26, 2001 at 11:48 am