§ 20-15-321

20-15-321. Current unrestricted subfund cash reserve. At the end of each school fiscal year the board of trustees of a community college district may designate a portion of the current unrestricted subfund end-of-the-year cash balance as a cash reserve for the purpose of paying current unrestricted subfund warrants issued by the district from July 1 to November 30 of the ensuing school fiscal year. The amount of the current unrestricted subfund cash balance that is earmarked as cash reserve may not exceed 10% of the final general fund budget for the ensuing school fiscal year. History: En. Sec. 3, Ch. 488, L. 1989; amd. Sec. 24, Ch. 351, L. 2021.