281—98.27(257,298A) Flexibility account. Beginning with the budget year beginning July 1, 2017, in accordance with Iowa Code section 298A.2, a flexibility account will be established in the general fund of each school corporation if the school corporation has authorized a transfer of all or a portion of its unexpended and unauthorized funds from any of the following sources: the statewide voluntary preschool program, the professional development supplement, the teacher leadership supplement, and the home school assistance program. Additionally, moneys from any other school district fund or general fund account can be transferred to the flexibility account if the program, purpose, or requirements for expenditure of such moneys have been repealed or are no longer in effect.
	98.27(1) Requirements for transfer to the flexibility account. In order to transfer funds to the flexibility account, the board of directors of the school corporation must determine that the statutory requirements for the source funds have been met as described in Iowa Code section 298A.2.
	98.27(2) Requirements for use of funds deposited to the flexibility account. Expenditures from the flexibility account will be approved by a resolution of the board of directors of the school corporation that meets all requirements stipulated in Iowa Code section 298A.2.
	98.27(3) Appropriate uses of categorical funding. Appropriate uses of funds transferred to the flexibility account are limited to the purposes described in Iowa Code section 298A.2.
	98.27(4) Inappropriate uses of categorical funding. Inappropriate uses of funds within the flexibility account include any expenditures for purposes not specified in Iowa Code section 298A.2.
	98.27(5) Deference. Deference will be given to the decisions of school districts’ boards of directors in accordance with Iowa Code section 257.10.
[ARC 7802C, IAB 4/17/24, effective 5/22/24]