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(a) This section applies to a budget submitted under 4 AAC 09.110 for a school year beginning on or after July 1, 2000.
(b) After reviewing a budget submitted under 4 AAC 09.110, the department will either approve the budget, or reject a budget that is
(1) not in the form required by the department;
(2) not balanced;
(3) does not meet the local effort provisions of AS 14.17; or
(4) does not meet the minimum expenditure for instruction provision of AS 14.17.520 .
(c) The department will notify each district of its determination made under (b) of this section by September 1. Notification will include either an approval or a rejection of the budget submission. Notification that a budget is rejected under this section will include the department's specific reasons for the rejection. A budget rejected under this section must be resubmitted within 20 days of the date of the department's mailing of the notice of rejection.
(d) A district that has had its budget rejected under (b)(1), (2) or (3) of this section is not eligible for state aid under AS 14.09 or AS 14.17 until the district has submitted a revised budget that has been approved by the department. A district that has had its budget rejected under (b)(4) of this section may revise its budget in accordance with (c) of this section to comply with AS 14.17.520 and submit it to the department for approval under this section or request a waiver in accordance with AS 14.17.520 (d).
(e) A budget of a district that contains a prior year fund balance as revenue will be reviewed again by the department upon receipt of the prior year audit. If an audited fund balance less than the amount budgeted is found, the budget will be deemed to be out of balance and the procedures in (c) and (d) of this section will apply.
History: Eff. 5/24/81, Register 78; am 1/15/87, Register 101; am 12/13/87, Register 104; am 8/5/90, Register 115; am 12/5/99, Register 152
Authority: AS 14.17.505
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Last modified 7/05/2006