72-8249. Special reserve fund; uses of money. - Kansas Statutes

72-8249

Chapter 72.--SCHOOLS Article 82.--ORGANIZATION, POWERS AND FINANCES OF BOARDS OF EDUCATION

      72-8249.   Special reserve fund; uses ofmoney.(a) There is hereby established in every school district aspecial reserve fund. Moneys in such fund shall be used to:

      (1)   Pay claims, judgments, expenses and other purposes relating to healthcareservices, disability income benefits and group life insurance benefits asauthorized by K.S.A.72-8415a, and amendments thereto;

      (2)   pay costs relating to uninsured losses; and

      (3)   pay the cost of workers compensation insurance and workers compensationclaims, awards, expenses and other purposes authorized by the workerscompensation act.

      (b)   Any balance remaining in the special reserve fund at the end of thebudget year shall be carried forward into that reserve fund for succeedingbudget years. Such fund shall not be subject to the provisions of K.S.A.79-2925through 79-2937, and amendments thereto. In preparing the budget of such schooldistrict, the amounts credited to and the amount on hand in the special reservefund, and the amount expended therefrom shall be included in the annual budgetfor the information of the residents of the school district. Interest earned onthe investment of moneys in any such fund shall be credited to that fund.

      History:   L. 2003, ch. 116, § 2; July 1.