Districts can levy based on different available tax rates. All districts must levy the basic rate in order to qualify for receipt of the state contribution toward the basic program. Receipts of property taxes should be allocated to each assigned district fund based on current-year property tax rates. District Required Fund to Ceiling Available Tax Levy vs. Which Allowable Expenditures UCA Reference Rate Optional Funds s/b Allocated Unrestricted To be used for each – Basic the local-state 0.001736 General – ; Required district’s operation and maintenance of shared portion (minimum) Fund , , & schools. Local State and – Unrestricted May be budgeted and – local funds received by a General Optional 0.002 expended with the general fund as ; district under the Voted Fund authorized by the local school board. Local Program Local State and – Unrestricted May be budgeted and – local funds received by a 0.0018 or General Optional expended with the general fund as ; district under the Board 0.0025 Fund authorized by the school board. Local Program Optional (except for Capital Restricted Used for capital outlay school districts – in a first-class 0.003 Projects and debt service. A portion of this levy Capital Local 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 Voter Debt Service Debt Service service requirements of issued general Obligation approval Fund Bonds obligation bonds. outstanding Appli- Legal cable Performed by Workpaper Ref. to: * AUDIT PROCEDURES and Date Index See table Determine that property and related fees were calculated and 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. ALLOWABILITY Select a representative sample of expenditures See table LEAs, – except above made from restricted tax and related fee sources and determine charter whether the expenditures were made only for purposes authorized. schools
Districts can levy based on different available tax rates. All districts must levy the basic rate in order to qualify for receipt of the state contribution toward the basic program. Receipts of property taxes should be allocated to each assigned district fund based on current-year property tax rates. Available Tax Levy Required vs. Optional Ceiling Rate District Fund to Which Funds s/b Allocated Allowable Expenditures UCA Reference Basic – the local-state shared portion Required 0.001736 (minimum) General Fund Unrestricted – To be used for each district’s operation and maintenance of schools. ; , , & Local – State and local funds received by a district under the Voted Local Program Optional 0.002 General Fund Unrestricted – May be budgeted and expended with the general fund as authorized by the local school 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 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 Bonds outstanding Voter 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 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.
Chapter-1.-Audit-Procedures-to-be-Performed-Annually.docx