(1) Trustees may transfer cash between funds only if the transfer is specifically allowed by law or administrative rule.
(2) Trustees shall hold a properly noticed hearing to accept public comment on a transfer before the transfer can occur, except the following cash transfers:
(a) transfers from the general fund to the compensated absences fund under 20-9-512, MCA, or transfer of an excess balance in the compensated absences fund to the general fund;
(b) transfers of unused employer contributions for self-insurance group coverage allowed by 2-18-703, MCA;
(c) transfers from the general fund to the litigation reserve fund and, upon settlement of the litigation, a transfer returning the balance to the general fund under 20-9-515, MCA;
(d) transfers between the federal impact aid fund and the debt service fund under 20-9-437 and 20-9-443, MCA;
(e) transfers from any fund, except the miscellaneous programs fund, to support an interlocal agreement fund under 20-9-703, MCA;
(f) transfers under 20-3-363, MCA, from any budgeted or nonbudgeted fund, except the retirement fund, debt service fund, or compensated absence fund. Transfers from the general fund may not exceed the amount of direct state aid received by the district;
(g) closure of district funds to establish a nonoperating fund under 20-9-505, MCA;
(h) transfers of unused tuition receipts from the miscellaneous programs fund to the general fund as provided in ARM 10.10.310; and
(i) transfers of excess funds in the lease or rental agreement fund to the general fund as required in 20-9-509, MCA.
(3) The trustees shall not transfer cash from the district retirement fund, which is funded by a countywide levy, to any other fund.
(4) Trustees shall not transfer any portion of the balance in the debt service fund to another fund, except to close the fund after fully paying all obligations as provided in 20-9-443, MCA.
(5) Except for the general fund, retirement fund, and debt service fund, trustees may transfer:
(a) any portion of the cash balance in a budgeted fund to another budgeted fund for any purpose allowed by law, provided the money being transferred is comprised of revenue from sources other than tax receipts;
(b) tax revenues from one budgeted fund to another budgeted fund, provided the transfer has been approved by the qualified electors of the district in a properly held election and the ballot must state the purpose for which the funds will be used; or
(c) tax revenues from one budgeted fund to another budgeted fund, provided the money is subsequently expended for purposes the same as, or directly related to, the purposes for which the taxes were levied. When tax receipts are transferred, the trustees' resolution shall state the purpose for which the taxes were levied and the purposes for which the funds will be used.
(6) Trustees shall not transfer cash received through state and federal grants and contracts.
(7) Trustees may transfer any portion of the cash balance in a nonbudgeted fund of the district. The trustees' resolution shall state specifically how the transfer will be used to improve efficiency of spending within the district.
(8) Except when specifically provided by law, trustees may not transfer money between a budgeted fund and a nonbudgeted fund.
(9) When the trustees transfer cash from one budgeted fund to another budgeted fund, the trustees may also transfer budget authority up to the amount of the cash transfer, from the paying fund to the receiving fund.
(10) Within 30 days of approving the transfer, the trustees shall notify the state superintendent, county superintendent, and county treasurer in writing of the amount of budget authority and the amount of cash transferred, the purposes for which the amount transferred will be used, and the funds affected.