Capital outlay funds may be used for mileage reimbursement.
ENTITLED, An Act to
allow school districts to expend from the capital outlay fund for some of
their mileage reimbursement costs.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
be amended to read as follows:
The capital outlay fund of the school district is a fund provided by law to meet
expenditures which result in the acquisition or lease of or additions to real property, plant, or
equipment. Such an expenditure shall be for land, existing facilities, improvement of grounds,
construction of facilities, additions to facilities, remodeling of facilities, or for the purchase or lease
of equipment. It may also be used for installment or lease-purchase payments for the purchase of
real property, plant, or equipment, which have a contracted terminal date not exceeding twenty
years from the date of the installment contract or lease-purchase and for the payment of the
principal of and interest on capital outlay certificates issued pursuant to § 13-16-6.2.
Any purchase of one thousand dollars or less may be paid out of the general fund. The total
accumulated unpaid principal balances of such installment contracts and lease-purchase and the
outstanding principal amounts of such capital outlay certificates may not exceed three percent of
the taxable valuation. The school district shall provide a sufficient levy each year under the
provisions of § 13-16-7 to meet the annual installment contract, lease-purchase, and capital outlay
certificate payments, including interest.
A school district which contracts its student transportation may expend from the capital outlay
fund an amount not to exceed fifteen percent of the contract amount.
In addition, a school district
which reimburses for mileage instead of providing transportation pursuant to
13-30-3, may use
the capital outlay fund to pay for fifteen percent of its mileage reimbursement costs.
The capital outlay fund may be used to purchase textbooks and instructional software.
The capital outlay fund may be used to purchase warranties on capital assets if the warranties
do not include supplies.
Signed March 8, 2006