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Minnesota Statutes Education Code: Prekindergarten-Grade 12 (Ch. 120-129C) § 123B.82. Reorganization operating debt

Current as of January 01, 2023 | Updated by FindLaw Staff

The “reorganization operating debt” of a school district means the net negative unreserved fund balances in all school district funds, other than building construction, debt redemption, and trust and agency, calculated in accordance with the uniform financial accounting and reporting standards for Minnesota school districts as of:

(1) June 30 of the fiscal year before the first year that a district receives revenue according to section 123A.39, subdivision 3; or

(2) June 30 of the fiscal year before the effective date of reorganization according to section 123A.46 or 123A.48.

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Cite this article: FindLaw.com - Minnesota Statutes Education Code: Prekindergarten-Grade 12 (Ch. 120-129C) § 123B.82. Reorganization operating debt - last updated January 01, 2023 | https://codes.findlaw.com/mn/education-code-prekindergarten-grade-12-ch-120-129c/mn-st-sect-123b-82/

Read this complete Minnesota Statutes Education Code: Prekindergarten-Grade 12 (Ch. 120-129C) § 123B.82. Reorganization operating debt on Westlaw. Westlaw subscription required.

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