298.10 - LEVY FOR CASH RESERVE.
298.10 LEVY FOR CASH RESERVE. 1. The board of directors of a school district may certify for levy by April 15 of a school year, a tax on all taxable property in the school district in order to raise an amount for a necessary cash reserve for a school district's general fund. The amount raised for a necessary cash reserve does not increase a school district's authorized expenditures as defined in section 257.7. 2. For fiscal years beginning on or after July 1, 2012, the cash reserve levy for a budget year shall not exceed twenty percent of the general fund expenditures for the year previous to the base year minus the general fund unexpended fund balance for the year previous to the base year.
Section History: Early Form [81 Acts, ch 94, § 1, 18; 82 Acts, ch 1128, § 1, 5]
Section History: Recent Form 89 Acts, ch 135, §111; 93 Acts, ch 1, §12; 2009 Acts, ch 183, §70, 74 Referred to in § 257.31