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Rule Title: DISTRICT RETIREMENT FUND
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Department: EDUCATION, DEPARTMENT OF
Chapter: SPECIAL ACCOUNTING PRACTICES
Subchapter: Special Accounting Practices
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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10.10.316    DISTRICT RETIREMENT FUND

(1) School districts will report retirement fund expenditures on the trustees' financial summary either by:

(a) reporting expenditures distributed to all expenditure programs and functions used in payroll; or

(b) reporting resources transferred to a special education cooperative for nonfederal employee benefits and a single, undistributed total for the remaining retirement fund expenditures.

(2) Districts may not partially distribute retirement fund expenditures to some functions and not to all functions. Expenditures must be reported using either the method in (1) (a) or (1) (b) but not both.

(3) A district that paid retirement benefits for federally funded employees in excess of the limit imposed by 20-9-501 , MCA, must reimburse the district retirement fund in the fiscal year the error is detected using current year grant funds or, if the grant project has closed, using nonfederal funds. A reimbursement made after the year in which the charges exceeded the limit must be recorded as a prior period expenditure in the fund making the reimbursement.

History: 20-9-102, 20-9-201, MCA; IMP, 20-9-103, 20-9-502, MCA; NEW, 1998 MAR p. 1719, Eff. 6/26/98; AMD, 2004 MAR p. 1613, Eff. 7/23/04.


 

 
MAR Notices Effective From Effective To History Notes
7/23/2004 Current History: 20-9-102, 20-9-201, MCA; IMP, 20-9-103, 20-9-502, MCA; NEW, 1998 MAR p. 1719, Eff. 6/26/98; AMD, 2004 MAR p. 1613, Eff. 7/23/04.
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