(1) The board of trustees of a local district may not make any appropriation in the
final budget of any fund in excess of the estimated expendable revenue for the budget
year of the fund.
(2) If there is a deficit fund balance in a fund at the close of the last completed
fiscal year, the board of trustees of a local district shall include an item of appropriation
for the deficit in the current budget of the fund equal to:
(a) at least 5% of the total revenue of the fund in the last completed fiscal year;
(b) if the deficit is equal to less than 5% of the total revenue of the fund in the
last completed fiscal year, the entire amount of the deficit.
(3) The provisions of this section do not require a local district to add revenue
to a fund that is used for debt service of a limited obligation, unless the revenue
is pledged toward the limited obligation.
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