20-9-515. Litigation reserve fund. (1) The trustees of a school district may establish a litigation reserve fund only when litigation that is pending against the district could result in an award against the district.
(2) At the end of each school fiscal year, the trustees of a district may transfer money from the general fund, within the adopted budget, to establish the fund.
(3) Upon conclusion of litigation, the balance of the money in the fund reverts to the general fund and must be used to reduce the district's general fund BASE budget levy requirement computed pursuant to 20-9-141.
History: En. Sec. 1, Ch. 493, L. 1995.
Structure Montana Code Annotated
20-9-501. Retirement costs and retirement fund
20-9-502. Purpose and authorization of building reserve fund -- subfund structure
20-9-503. Budgeting, tax levy, and use of building reserve fund
20-9-504. Extracurricular fund for pupil functions
20-9-505. Purpose and establishment of nonoperating fund
20-9-506. Budgeting and net levy requirement for nonoperating fund
20-9-507. Miscellaneous programs fund
20-9-509. Lease or rental agreement fund
20-9-510. Traffic education fund
20-9-511. Interlocal cooperative fund
20-9-512. Compensated absence liability fund
20-9-515. Litigation reserve fund
20-9-516. School facility and technology account
20-9-522. through 20-9-524 reserved
20-9-525. School major maintenance aid account -- formula
20-9-526. through 20-9-530 reserved
20-9-533. Technology acquisition and depreciation fund -- limitations
20-9-534. Statutory appropriation for school technology purposes
20-9-535. and 20-9-536 reserved
20-9-537. Montana Indian language preservation program
20-9-538. through 20-9-540 reserved
20-9-543. School flexibility fund -- uses