13-16-26.2. Transfers from general fund--Prohibited--Exceptions.
Notwithstanding §13-16-26, no school district may transfer any funds, exclusive of federal funds and wind energy tax revenue that is defined in §13-13-10.1 and apportioned pursuant to §10-35-21, from the general fund to the capital outlay fund, bond redemption fund or the capital projects fund.
The authority provided by this section for the transfer of wind energy tax revenue is conditioned annually upon the district obtaining, from the Department of Education, verification that the average compensation of teachers in the district, as based on the most recently approved financial report, exceeds the average compensation rate for the 2017 fiscal year.
The transfer of wind energy tax revenue must be made within the ten-year timeframe identified in subdivision 13-13-10.1(6B) for each new wind farm. The maximum amount a school district may transfer on an annual basis is the amount of wind energy tax revenue that is able to be retained by the district and not counted as local effort.
Notwithstanding §13-16-6, wind energy tax revenue transferred to the capital outlay fund under the authority of this section must remain separately identified and may not thereafter be returned to the general fund.
Source: SL 2000, ch 77, §1; SL 2001, ch 77, §6; SL 2021, ch 74, § 2.
Structure South Dakota Codified Laws
Chapter 16 - School District Funds And Accounts
Section 13-16-1 - Sources of school district funds.
Section 13-16-2 - Funds to comport with generally accepted accounting principles.
Section 13-16-3 - General fund defined.
Section 13-16-6 - Capital outlay fund--Definition--Uses--Levy.
Section 13-16-6.2 - Capital outlay certificates authorized--Issuance--Sale--Election--Maturity.
Section 13-16-7.2 - Maximum taxes--Pledge of taxes.
Section 13-16-7.3 - Maximum pledge of taxes--Limitations.
Section 13-16-7.4 - Maximum pledge of taxes--Transition.
Section 13-16-8 - Bond and certificate proceeds placed in capital outlay fund.
Section 13-16-9 - Expenditure of money from capital outlay fund.
Section 13-16-9.1 - Validation of prior school district contracts.
Section 13-16-9.2 - Five-year plan required when fund used to construct new facilities or additions.
Section 13-16-9.3 - Public hearing for use of capital outlay fund--Notice.
Section 13-16-13 - Tax proceeds paid into bond redemption fund--Purposes for which used.
Section 13-16-14 - Restriction on transfers from bond redemption fund.
Section 13-16-15 - Designation of depositories for school district--Resolution.
Section 13-16-15.1 - Domestic savings and loan associations as official depositories--Restrictions.
Section 13-16-18.1 - Domestic federal credit union as public depository--Requirement.
Section 13-16-19 - Custodial funds--Stewardship--Designation of employee--Surety bond.
Section 13-16-21 - Custodial funds--Monthly and annual reports--Audits.
Section 13-16-24 - Unlawful contracts and warrants void.
Section 13-16-26 - Transfers between school district funds.
Section 13-16-26.2 - Transfers from general fund--Prohibited--Exceptions.
Section 13-16-28 - Audit of school district books called by state, school board, or voters.
Section 13-16-30 - Title VIII of the Elementary and Secondary Education Act fund.
Section 13-16-31 - Transfers from Title VIII fund.
Section 13-16-32 - Special education fund--Legal costs allowable expenditures.