SF0063 • 2013

School district special reserve funds.

AN ACT relating to school districts; repealing school district authority to establish special reserve funds and capital improvement reserve funds; specifying application; and providing for an effective date.

Budget Education

Did Not Pass

The latest official action shows that this bill did not move forward in that session.

Sponsor: Senator Coe
Last action: 2013-01-23
Official status: inactive
Effective date: Not listed

Plain English Breakdown

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Amendments

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SF0063SW001

Committee of the Whole • VON FLATER

Adopted

Plain English: Adopted Committee of the Whole by VON FLATER

This amendment summary is using official source text because generated interpretation was skipped for this run.
The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.

SF0063SS001

Standing Committee • COE

Adopted

Plain English: Adopted Standing Committee by COE

This amendment summary is using official source text because generated interpretation was skipped for this run.
The official amendment text was available, but an easy plain-English summary could not be produced automatically during the last sync.

Bill History

2013-01-23 Senate
S Failed CoW; Indef Postponed
2013-01-23 Senate
Amendment Adopted
2013-01-23 Senate
S Amendments Adopted
2013-01-23 Senate
Amendment Adopted
2013-01-21 Senate
S Placed on General File
2013-01-21 Senate
S04 Recommended Amend and Do Pass
2013-01-09 Senate
S Introduced and Referred to S04
2013-01-08 Senate
S Received for Introduction
2013-01-02 LSO
Bill Number Assigned

Current Bill Text

Read the full stored bill text

WORKING DRAFT
2013
STATE OF
WYOMING
13LSO-0286

SENATE FILE
NO.

SF0063

School district special reserve funds.

Sponsored by:
Senator(s) Coe and Nicholas, P. and Representative(s) Teeters

A BILL

for

AN ACT relating to
school districts; repealing school district authority to establish special reserve funds and

capital improvement reserve funds; specifying application;
and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.

W.S. 16
‑
4
‑
105(
b) is amended to read:

16
‑
4
‑
105.

Accumulated retained earnings or fund surplus; capital improvements reserve.

(b)

Except for school districts, any
municipality may appropriate funds from estimated revenue in any budget year to a reserve for capital improvements and for
depreciation
within any capital improvements fund, and for
the purpose of purchasing or replacing specified equipment or a depreciation reserve for equipment, which has been duly established by ordinance. Money in the reserves may be allowed to accumulate from year to year until the accumulated total is sufficient to permit economical expenditure for the specified purposes. Disbursements from reserves shall be made only by transfer to a revenue account within a capital improvements fund pursuant to an appropriation for the fund. The amount appropriated to reserves under this subsection in any budget year shall not exceed ten percent (10%) of the municipality's total revenues for that budget year.
This subsection shall not apply to school districts.

Section 2.

W.S. 21
‑
13
‑
504 is repealed.

Section 3.

This act shall not apply to any capital improvement reserve fund established by a school district under W.S. 16
‑
4
‑
105(
b), nor to any special reserve fund created by a school district under W.S. 21
‑
13
‑
504 prior to July 1, 2013
. Effective July 1, 2015, any balance
remaining within
these special funds shall be considered as an operating balance and cash reserve for purposes of W.S. 21
‑
13
‑
313(e).

Section 4.

This act is effective July 1, 2013.

(END)

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SF0063