2009 Nebraska Code
Chapter 79 SCHOOLS
79-1027 Budget; restrictions.

79-1027. Budget; restrictions.

No district shall adopt a budget, which includes total requirements of depreciation funds, necessary employee benefit fund cash reserves, and necessary general fund cash reserves, exceeding the applicable allowable reserve percentages of total general fund budget of expenditures as specified in the schedule set forth in this section.

Average daily Allowable membership of reserve district percentage 0 - 471 45 471.01 - 3,044 35 3,044.01 - 10,000 25 10,000.01 and over 20

On or before March 10, 2010, on or before April 1, 2011, and on or before March 1 each year thereafter, the department shall determine and certify each district's applicable allowable reserve percentage.

Each district with combined necessary general fund cash reserves, total requirements of depreciation funds, and necessary employee benefit fund cash reserves less than the applicable allowable reserve percentage specified in this section may, notwithstanding the district's applicable allowable growth rate, increase its necessary general fund cash reserves such that the total necessary general fund cash reserves, total requirements of depreciation funds, and necessary employee benefit fund cash reserves do not exceed such applicable allowable reserve percentage.

Source

Laws 1990, LB 1059, § 18;
Laws 1991, LB 511, § 83;
Laws 1992, LB 245, § 88;
Laws 1992, LB 1063, § 204;
Laws 1992, Second Spec. Sess., LB 1, § 175;
R.S.1943, (1994), § 79-3818;
Laws 1996, LB 900, § 673;
Laws 1998, Spec. Sess., LB 1, § 31;
Laws 1999, LB 149, § 12;
Laws 1999, LB 813, § 26;
Laws 2001, LB 797, § 28;
Laws 2002, LB 460, § 2;
Laws 2003, LB 67, § 16;
Laws 2005, LB 126, § 49;
Referendum 2006, No. 422;
Laws 2007, LB21, § 5;
Laws 2009, LB61, § 4;
Laws 2009, LB545, § 18;
Laws 2009, LB548, § 4;
Laws 2010, LB711, § 5;
Laws 2010, LB1071, § 22.
Note: The Revisor of Statutes has pursuant to section 49-769 correlated LB711, section 5, with LB1071, section 22, to reflect all amendments.
Note: Changes made by LB711 became effective February 26, 2010. Changes made by LB1071 became operative April 15, 2010.