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(1) Trustees may not close a fund into a fund of another school district. An elementary fund must be closed into another elementary fund, and a high school fund must be closed into another high school fund.

(2) Pursuant to 20-9-201, MCA when trustees determine that a tuition fund is inactive and will no longer be used, they must close the fund into the miscellaneous programs fund.

(3) Pursuant to 20-9-443, MCA when all bond principal, interest, and fees and all SIDs outstanding have been fully paid, the trustees shall close the debt service fund into the building reserve fund, general fund, or technology fund. The district shall identify money transferred from the debt service fund using a project reporter code number and track the subsequent uses of the money that are limited by 20-9-443, MCA.

(4) Pursuant to 20-9-505, MCA, a district entering nonoperating status shall close all funds, except the debt service fund and the miscellaneous programs fund, into a single nonoperating fund of the district.

(5) Pursuant to 20-9-201, MCA except as provided in (1) through (5) of this rule, trustees may close an inactive fund into any fund considered appropriate by the trustees if the fund does not have a cash or fund balance deficit. If an inactive fund has a cash or fund balance deficit, the district must resolve the deficit before closing the fund.

(6) Pursuant to 20-9-201, MCA, the trustees shall notify the county treasurer in writing of the fund closure, stating the district fund into which the inactive fund is to be closed. The county treasurer shall deposit subsequent receipts on behalf of the closed fund, including subsequent tax receipts, in the fund to which the inactive fund was closed.

History: 20-9-102, MCA; IMP, 20-9-201, 20-9-443, 20-9-505, 20-10-147, MCA; NEW, 2002 MAR p. 1740, Eff. 6/28/02; AMD, 2016 MAR p. 880, Eff. 5/21/16.

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