Minnesota Statutes
Chapter 123B — School District Powers And Duties
Section 123B.78 — Cash Flow; School District Revenues; Borrowing For Current Operating Costs; Capital Expenditure Deficits.

Subdivision 1. State aids payment. The commissioner of management and budget shall remit all payments of state aids to districts in conformance with the dates provided by law or, when not so provided, with a schedule of aid payments to be established by the commissioner of education in consultation with other affected state agencies.
Subd. 2. Taxes. The auditors or finance officers of Minnesota counties shall remit all payments of taxes to the districts in conformance with the provisions of section 276.11. Districts which have need for tax remittance advances may secure them from the counties by making formal requests in conformance with section 276.11.
Subd. 3. Tax and aid anticipation certificates. Minnesota school districts may issue tax and aid anticipation certificates in conformance with the provisions of sections 126C.50 to 126C.56, with the additional provision that the proceeds of such borrowing or any other method of borrowing shall be recorded as liabilities of funds for which the taxes were levied, or for which the aids are receivable. Nothing in this subdivision provides authority for borrowing against the tax levies and aids of one district fund for the purpose of increasing the available cash balance of another fund.
Subd. 4. Borrowing for outstanding bonds. Unless otherwise provided by law, a district must not, for the purpose of increasing the available cash balance of another fund, borrow or transfer funds from the building construction fund, debt redemption fund, trust and agency fund, or from any sinking fund for outstanding bonds issued for any purpose. However, if the contemplated use for which funds were originally placed in the building construction fund or a sinking fund is afterwards abandoned or if a balance remains after the use is accomplished, a district may devote these funds as provided in section 475.65. For the purpose of insuring fund integrity, on determining that a district is in violation of this subdivision or section 123B.75, the commissioner shall require that such district maintain separate bank accounts for building construction funds, debt redemption funds, trust and agency funds, and sinking funds for outstanding bonds. Nothing in this subdivision shall be construed to prohibit the use of common bank accounts for other funds unless prohibited by law.
Subd. 5. Deficit for capital projects. Upon approval by the commissioner, a district may incur a deficit in the reserve for operating capital account for a period not to exceed three years to provide money for capital projects. The commissioner shall approve a description of the project and a financial plan to recover the deficit prior to the initiation of the project.
1976 c 271 s 31; 1983 c 314 art 6 s 2; 1986 c 444; 1987 c 384 art 2 s 1; 1Sp1995 c 3 art 16 s 13; 1996 c 412 art 1 s 3; 1998 c 397 art 6 s 19,124; art 11 s 3; 2003 c 130 s 12; 2009 c 101 art 2 s 109

Structure Minnesota Statutes

Minnesota Statutes

Chapters 120 - 129C — Education Code: Prekindergarten - Grade 12

Chapter 123B — School District Powers And Duties

Section 123B.01 — Definitions.

Section 123B.02 — General Powers Of Independent School Districts.

Section 123B.025 — School Sponsorship And Advertising Revenue.

Section 123B.03 — Background Check.

Section 123B.04 — Site Decision Making; Individualized Learning Agreement; Other Agreements.

Section 123B.045 — District-created Site-governed Schools.

Section 123B.06 — Evaluation Of Pupil Growth And Progress; Permanent Records.

Section 123B.07 — Missing Children; Voluntary Fingerprinting.

Section 123B.08 — Flag School Records Of Missing Children.

Section 123B.09 — Boards Of Independent School Districts.

Section 123B.10 — Publication Of Financial Information.

Section 123B.11 — Imprest Cash Funds.

Section 123B.12 — Insufficient Funds To Pay Orders.

Section 123B.13 — Land In Settlement Of Claim Against Surety.

Section 123B.14 — Officers Of Independent School Districts.

Section 123B.143 — Superintendent.

Section 123B.147 — Principals.

Section 123B.19 — Failure Of Auditor To Report.

Section 123B.195 — Board Members' Right To Employment.

Section 123B.20 — Dealing In School Supplies.

Section 123B.21 — Duty Of Officers To Report Violations Of Law.

Section 123B.22 — Combination To Control Prices.

Section 123B.23 — Liability Insurance; Officers And Employees.

Section 123B.24 — Legal Actions By Districts.

Section 123B.25 — Legal Actions Against Districts And Teachers.

Section 123B.28 — Records As Evidence.

Section 123B.29 — Sale At Auction.

Section 123B.30 — Improper Classification Of Pupils.

Section 123B.31 — Limitation Of Sections.

Section 123B.34 — Minnesota Public School Fee Law, Citation.

Section 123B.35 — General Policy.

Section 123B.36 — Authorized Fees.

Section 123B.37 — Prohibited Fees.

Section 123B.38 — Hearing.

Section 123B.39 — Postsecondary Instructional Programs.

Section 123B.40 — Declaration Of Policy.

Section 123B.41 — Definitions.

Section 123B.42 — Textbooks; Individual Instruction Or Cooperative Learning Material; Standard Tests.

Section 123B.43 — Use Of Individualized Instructional Materials.

Section 123B.44 — Provision Of Pupil Support Services.

Section 123B.445 — Nonpublic Education Council.

Section 123B.45 — Payments For Contractual Obligations.

Section 123B.46 — Administrative Costs.

Section 123B.47 — Notice To Districts; Proration.

Section 123B.48 — Limit On District Obligations.

Section 123B.49 — Extracurricular Activities; Insurance.

Section 123B.492 — Supervised Competitive High School Diving.

Section 123B.50 — Special School Districts, Laws Applicable.

Section 123B.51 — Schoolhouses And Sites; Uses For School And Nonschool Purposes; Closings.

Section 123B.52 — Contracts.

Section 123B.53 — Debt Service Equalization Program.

Section 123B.535 — Natural Disaster Debt Service Equalization.

Section 123B.54 — Debt Service Appropriation.

Section 123B.55 — Debt Service Levy.

Section 123B.56 — Health, Safety, And Environmental Management.

Section 123B.57 — Health And Safety Projects.

Section 123B.571 — Radon Testing.

Section 123B.572 — Solar Panel Fire Safety.

Section 123B.58 — Disability Access And Fire Safety Improvements To School Buildings.

Section 123B.595 — Long-term Facilities Maintenance Revenue.

Section 123B.60 — Building Bonds For Calamities.

Section 123B.61 — Purchase Of Certain Equipment.

Section 123B.62 — Bonds For Certain Capital Facilities.

Section 123B.63 — Capital Project Referendum.

Section 123B.65 — Energy-efficiency Projects.

Section 123B.651 — Energy Use Reduction And Reporting For Public Schools.

Section 123B.67 — School Building Accessibility Capital Improvement Grant Act.

Section 123B.68 — Approval; Application Forms.

Section 123B.69 — Grant Application Process.

Section 123B.70 — School District Construction.

Section 123B.71 — Review And Comment For School District Construction.

Section 123B.72 — School Facility Commissioning.

Section 123B.74 — Eminent Domain.

Section 123B.744 — Agricultural Education.

Section 123B.747 — National Forest Land Funds, Handling And Disposition.

Section 123B.75 — Revenue; Reporting.

Section 123B.76 — Expenditures; Reporting.

Section 123B.77 — Accounting, Budgeting, And Reporting Requirement.

Section 123B.78 — Cash Flow; School District Revenues; Borrowing For Current Operating Costs; Capital Expenditure Deficits.

Section 123B.79 — Permanent Fund Transfers.

Section 123B.80 — Exceptions For Permanent Fund Transfers.

Section 123B.81 — Statutory Operating Debt.

Section 123B.82 — Reorganization Operating Debt.

Section 123B.83 — Expenditure Limitations.

Section 123B.84 — Policy.

Section 123B.85 — Definitions.

Section 123B.86 — Equal Treatment.

Section 123B.87 — Funds And Aids.

Section 123B.88 — Independent School Districts; Transportation.

Section 123B.885 — Diesel School Buses; Operation Of Engine; Parking.

Section 123B.90 — School Bus Safety Training.

Section 123B.91 — School District Bus Safety Responsibilities.

Section 123B.92 — Transportation Aid Entitlement.

Section 123B.93 — Advertising On School Buses.

Section 123B.94 — Common School Districts; Meetings, Elections.

Section 123B.95 — Boards Of Common School Districts.

Section 123B.96 — Treasurer.

Section 123B.97 — Schoolhouses And Sites; Common School Districts.

Section 123B.98 — Limitation Of Sections.