Interfund Transfers SpreadsheetTuesday, June 1, 2010, 10:31 am
OPI encourages school districts to read 20-9-208, MCA and A.R.M. 10.10.320 when considering transfers between funds. Transfers from the general fund to any other fund and transfers to the general fund from any other fund are prohibited unless specifically allowed by law. Transfers from one budgeted fund to another budgeted fund may not be made with funds approved by the voters or with funds raised by a nonvoted levy unless the transfer is within or directly related to the purposes for which the funds were raised. Generally, before a transfer can occur, the trustees must hold a properly noticed hearing to accept public comment on the transfer.
The Interfund Transfers Spreadsheet helps sort out the provisions in state law and administrative rule. It is located on the OPI website at: http://www.opi.mt.gov/pdf/schoolfinance/Acct/Transfer_Matrix.xls.
For more information, contact Denise Ulberg, (406) 444-1960