When a contingency occurs, the Board of Education may transfer any unencumbered moneys from the contingency reserve account, which is within the general fund, to any other fund or function.

The Board shall not transfer moneys from the capital reserve fund; the insurance reserve fund; the bond redemption fund; the special building fund; the transportation fund; or the instructional supplies and materials, instructional capital outlay, or the other instructional purposes accounts in the general fund.

Unencumbered moneys may be transferred among the instructional supplies and materials, instructional capital outlay, and other instructional purposes accounts and by Board resolution between the capital reserve fund and insurance reserve fund or to any other risk management fund as defined in state law.

Adopted:   April 1972
Revised:   April 1977
Revised:   May 1982
Revised:   April 1988
Revised to conform with practice:  May 22, 1995
Reviewed:  August 11, 1997

LEGAL REFS: 
C.R.S. 22-32-107
C.R.S. 22-44-102(3)
C.R.S. 22-44-106(1)
C.R.S. 22-44-112
C.R.S. 22-44-113
C.R.S. 22-45-103(1)(a)(II, III)
C.R.S. 22-54-105
C.R.S. 24-10-115

NOTE:  The fifth citation is to a portion of law which permits a board to borrow unencumbered moneys in certain funds to use temporarily for another fund.