Sec. 4. (a) Any balance in the operations fund may be invested in the manner provided for investment of money by a political subdivision. The net proceeds from the investment become a part of the operations fund.
(b) Any balance, or a part of the balance, remaining in the operations fund at the end of a year may be:
(1) retained in the operations fund; or
(2) transferred to the school corporation's rainy day fund.
As added by P.L.244-2017, SEC.86. Amended by P.L.140-2018, SEC.15.
Structure Indiana Code
Article 40. Government Funds and Accounts
Chapter 18. School Corporation Operations Fund
20-40-18-1. School Corporation Operations Fund Created
20-40-18-2. Sources of Revenue
20-40-18-3. Appropriations Required
20-40-18-4. Investment of Balances; Transfer to School Rainy Day Fund
20-40-18-5. Limitations on Uses
20-40-18-7. Limitations on Expenditures for Capital Projects
20-40-18-8. Transportation of School Children