Bill > HB1291

This bill amends the process for calculating a school district's "general fund base percentage," which is a figure used to determine the allowable amount of cash a school district can keep in its general fund. Previously, this percentage was based on the school district's fall enrollment (the number of students enrolled on the last Friday of September), with different percentages assigned to districts with 200 or fewer students, between 200 and 600 students, or 600 or more students. The bill changes this calculation to be based on the district's actual general fund balance as of June 30th each year, divided by its general fund expenditures from the previous fiscal year, and then multiplied by one hundred. This new method aims to provide a more dynamic and potentially more accurate reflection of a district's financial standing when setting its allowable cash balance.

Education

https://sdlegislature.gov/#/Session/Bill/27190