Iowa Admin. Code r. 27-10.57

Current through Register Vol. 47, No. 8, October 30, 2024

Rule 27-10.57 - Reserve fund

(1)Purpose and use of the reserve fund. The reserve fund will be set aside and used only to meet contingencies that occur in the districts or within the division. The reserve fund shall not exceed $150,000.

(2)Replenishing the reserve fund. On June 30 of each year, the division may recall any unspent allocations and replenish the fund in accordance with subrule 10.57(1). If needed, the reserve fund may also be replenished at any time with recalled funds to return the balance to $150,000.