SDCL 13-16-26.2 Transfers From General Fund-Prohibited-Exceptions

• Library: South Dakota Statutes
• Edition: 2023
• Currency: Current through the 2023 Legislative Session
• Year: 2023
• Citation: SDCL 13-16-26.2

Notwithstanding § 13-16-26, no school district may transfer any funds, exclusive of federal funds and wind energy tax revenue that is defined in § 13-13-10.1 and apportioned pursuant to § 10-35-21, from the general fund to the capital outlay fund, bond redemption fund or the capital projects fund.

The authority provided by this section for the transfer of wind energy tax revenue is conditioned annually upon the district obtaining, from the Department of Education, verification that the average compensation of teachers in the district, as based on the most recently approved financial report, exceeds the average compensation rate for the 2017 fiscal year.