2015 Delaware Code
Title 14 - Education
CHAPTER 15. FISCAL PROVISIONS

• § 1501 Support of free public schools.
• § 1502 Disbursements.
• § 1503 Limitation on terms of contracts.
• § 1504 Audit.
• § 1505 Unauthorized expenditures.
• § 1506 Limitation on use of tax revenues.
• § 1507 School district financial position reports.
  • (a) Beginning with the fiscal year ending June 30, 1997, all public school districts, including vocational-technical school districts, both sometimes referred to herein as "district," are required to submit to the Secretary of Education, 3 financial position reports, 1 on or before February 1, 1 on or before May 1 and 1 on or before August 31 of each year. The format of the reports shall be as prescribed by the Secretary consistent with the provisions of this section, and also shall establish that the school district has sufficient year-end carryover balances, including any nonstate funded share, to fund at least 1 month of local payroll for the next ensuing fiscal year. The financial position report due by February 1 shall project a school district's current fiscal year ending balance in its local current expense revenue accounts after taking into consideration all remaining local operating obligations that can be reasonably estimated. To the extent that a district has General Fund balances in their Division III Equalization Accounts, Division II—All Other Costs and Energy Accounts, or in an approved cash option account, such balances may be identified as offsets to any local obligation. If the financial position report shows a deficit occurring prior to the close of the current fiscal year, the district shall indicate what steps it will take to assure that its obligations are satisfied in the current fiscal year. If the financial position report shows a current expense deficit for the current fiscal year, or a surplus that is less than the amount required to satisfy 1 month's full local payroll and other operating obligations for the ensuing fiscal year, the district shall also indicate what steps it plans to take in the ensuing fiscal year to assure that its future year-end balance will be sufficient to cover at least this amount. The financial position report due by May 1 shall project a school district's current fiscal year ending balance in its local current expense revenue accounts after
  • § 1507A Christina School District financial position reports.
    • Repealed by 75 Del. Laws, c. 439, § 8, effective Aug. 17, 2006.;
  • § 1508 Citizen oversight of district finances.
  • § 1509 Transparency of district finances.
  • § 1510 Department oversight of district spending.