Board Local State – Unrestricted May be budgeted and – and local funds received 0.0018 or General Optional expended with the general fund as ; by a district under the 0.0025 Fund authorized by the local school board. Board Local Program Optional (except for school districts Capital Restricted Used for capital outlay – in a first-class Capital Local 0.003 Projects and debt service. A portion of this levy county who must impose a Fund may be used for general purposes. Capital Local levy of at least .0006) Required Restricted used to satisfy debt – if General Debt Service Debt Service service requirements of issued general Obligation approval Fund obligation bonds. outstanding Appli- Legal cable Performed by Workpaper Ref. to: * AUDIT PROCEDURES and Date Index Determine that property taxes and related fees were calculated and See table LEAs, except above allocated to the proper levy/fund based on the current-year tax rate charter and that the various restricted taxes are accounted for in separate schools restricted accounts. See table LEAs, ALLOWABILITY Select a representative sample of expenditures – except above made from restricted tax and related fee sources and determine charter whether the expenditures were made only for purposes authorized. schools Debt Service Verify that these funds have been used only to See table LEAs, – except above pay general obligation debt service principal and interest along charter with paying agent fees and refunding costs. schools See table LEAs, Capital Local Verify these funds were used only for capital – except above outlay (defined as items that are capital in nature such as land, charter buildings, improvements, equipment, and other capital assets) and schools debt service and maintenance projects, with exceptions as noted in . In compliance with 53A-16-113, the local school board shall notify the public of the board’s use of the capital outlay levy proceeds for general fund purposes prior to the board’s budget hearing and at a budget hearing.
Board Local – State and local funds received by a district under the Board Local Program Optional 0.0018 or 0.0025 General Fund Unrestricted – May be budgeted and expended with the general fund as authorized by the local school board. ; Capital Local Optional (except for school districts in a first-class county who must impose a Capital Local levy of at least .0006) 0.003 Capital Projects Fund Restricted – Used for capital outlay and debt service. A portion of this levy may be used for general purposes. Debt Service Required if General Obligation outstanding approval Debt Service Fund Restricted – used to satisfy debt service requirements of issued general obligation bonds. Legal Ref. Appli- cable to: * AUDIT PROCEDURES Performed by and Date Workpaper Index See table above LEAs, except charter schools Determine that property taxes and related fees were calculated and allocated to the proper levy/fund based on the current-year tax rate and that the various restricted taxes are accounted for in separate restricted accounts. See table above LEAs, except charter schools ALLOWABILITY – Select a representative sample of expenditures made from restricted tax and related fee sources and determine whether the expenditures were made only for purposes authorized. See table above LEAs, except charter schools Debt Service – Verify that these funds have been used only to pay general obligation debt service principal and interest along with paying agent fees and refunding costs. See table above LEAs, except charter schools Capital Local – Verify these funds were used only for capital outlay (defined as items that are capital in nature such as land, buildings, improvements, equipment, and other capital assets) and debt service and maintenance projects, with exceptions as noted in . In compliance with 53A-16-113, the local school board shall notify the public of the board’s use of the capital outlay levy proceeds for general fund purposes prior to the board’s budget hearing and at a budget hearing.