| Issue Date: | 2011-09-01 |
|---|---|
| Revised Date: |
Legal Cites
- Education Code sec. 45.0571
Origin:
S.B. 1, 82nd Leg., 1st C.S.
Purpose
A fund in the state treasury outside the general revenue fund. The fund includes amounts remitted by charter school districts that have bonds guaranteed by the Permanent School Fund (0044). The amount remitted is 10% of the savings the charter school district achieves through a lower interest rate due to the bond guarantee by the Permanent School Fund. Amounts in the fund are to be used in case of charter district default.
| Classification | Group 01: General State Operating and Disbursing Funds [?] |
|---|---|
| Depository Interest | Retained in fund. |
| Disposition of Balance | Accumulative |
| Appropriation Technique | Transferred to district's paying agent in case of default. |
Administering Agencies
Note
USAS Values
| USAS Title | CHARTER DISTRICT BOND GUARANTEE RESERVE |
|---|---|
| Consolidated Fund | |
| State Fund Group | 01 - GENERAL STATE OPERATING & DISBURSING FDS |
| USAS Status | A |
Used to make general expenditures for the daily operations of state government.