Public-domain · open source
OpenJurist

Ind. Code § 20-40-18-4

Investment of balances; transfer to school rainy day fund

As added by P.L.244-2017, SEC.86

Sec. 4. (a) Any balance in the operations fund may be invested in the manner provided for investment of money by a political subdivision. The net proceeds from the investment become a part of the operations fund.

(b) Any balance, or a part of the balance, remaining in the operations fund at the end of a year may be:

(1) retained in the operations fund; or

(2) transferred to the school corporation's rainy day fund.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.