2015 Indiana Code TITLE 20. EDUCATION ARTICLE 40. GOVERNMENT FUNDS AND ACCOUNTS CHAPTER 2. GENERAL FUND
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IC 20-40-2
Chapter 2. General Fund
IC 20-40-2-1
"Fund"
Sec. 1. As used in this chapter, "fund" refers to a school
corporation's general fund established under section 2 of this chapter.
As added by P.L.2-2006, SEC.163.
IC 20-40-2-2
Establishment of general fund
Sec. 2. The governing body of each school corporation shall
establish a general fund for the operation and maintenance of local
schools.
As added by P.L.2-2006, SEC.163.
IC 20-40-2-3
Source of fund balances; required use of fund
Sec. 3. Except as otherwise provided by law, all receipts and
disbursements authorized by law for school funds and tax levies shall
be received in and disbursed from the fund.
As added by P.L.2-2006, SEC.163.
IC 20-40-2-4
Uses; transfers from general fund to transportation fund
Sec. 4. (a) Except as provided by subsection (b) or any other law,
any lawful school expenses payable from any other fund of a school
corporation, including debt service and capital outlay, may be
budgeted in and paid from the fund.
(b) Before January 1, 2018, costs attributable to transportation (as
defined in IC 20-40-6-1) may be budgeted in and paid from the fund.
After December 31, 2017, costs attributable to transportation (as
defined in IC 20-40-6-1) may not be budgeted in and paid from the
fund. After June 30, 2013, a school corporation may also transfer
money from its general fund to its transportation fund (IC 20-40-6)
if it qualifies under subsection (c).
(c) A school corporation may make a transfer from its general
fund to its transportation fund if the amount of revenue loss from:
(1) the credits for excessive property taxes granted under
IC 6-1.1-20.6-7.5 in the amount that affects the school
corporation's transportation fund; plus
(2) allocations to the school transportation fund resulting from
the granting of credits under IC 6-1.1-20.6-7.5 to protect the
protected taxes as provided in IC 6-1.1-20.6-9.8;
is more than seventy-five percent (75%) of the school corporation's
transportation fund levy for the year for which the latest certified
levies have been determined. The amount of the transfer may not
exceed fifty percent (50%) of revenue lost by the school corporation's
Indiana Code 2015
transportation fund.
(d) A school corporation may make a transfer from its general
fund to its school bus replacement fund (IC 20-40-7) if the revenue
lost from:
(1) the credits for excessive property taxes granted under
IC 6-1.1-20.6-7.5 in the amount that affects the school
corporation's school bus replacement fund; plus
(2) allocations to the school bus replacement fund resulting from
the granting of credits under IC 6-1.1-20.6-7.5 to protect the
protected taxes as provided in IC 6-1.1-20.6-9.8;
is more than seventy-five percent (75%) of the school corporation's
school bus replacement fund levy for the year for which the latest
certified levies have been determined. The amount of the transfer
may not exceed fifty percent (50%) of revenue lost by the school
corporation's school bus replacement fund.
As added by P.L.2-2006, SEC.163. Amended by P.L.145-2012,
SEC.24; P.L.257-2013, SEC.36.
IC 20-40-2-5
Payment of athletic coaches
Sec. 5. Remuneration for athletic coaches, whether or not the
athletic coaches are:
(1) otherwise employed by the school corporation; and
(2) licensed under IC 20-28-4 or IC 20-28-5;
may be budgeted in and paid from the fund.
As added by P.L.2-2006, SEC.163.
Indiana Code 2015
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