Board Policies

Adoption Date: Jun 25, 2014
6210.01 - RAINY DAY FUND
The Board of School Trustees of Marion Community Schools has established a Rainy Day Fund.  The Rainy Day Fund may receive transfers of unused and unencumbered monies from other funds for any fiscal year.  Such transfer cannot exceed ten percent (10%) of the school corporation’s total budget for the fiscal year from which the transfer occursTransfers to the Rainy Day Fund may be made at any time during the fiscal year.
The intent of the Board of School Trustees is to use the monies in the Rainy Day Fund only for any one of the following purposes:
1.         Emergency, urgent or otherwise unanticipated events
2.         Non-recurring or non-routine events, projects or actions
3.         Uses deemed to be in the best interests of the Marion Community Schools
The Rainy Day Fund is subject to the same appropriation process as are the other school corporation funds.  Prior to the appropriation, the Board will make a determination that the use of the appropriation is consistent with the intent of the Rainy Day fund as set out in this policy.  The purpose for the appropriation will be stated at the time it is made.
I.C. 36-1-8-5
I.C. 36-1-8-5.1

This page was last modified:
Jun. 27 2014