MN HF15

Permits Independent School District No. 333, Ogilvie, to permanently transfer up to $800,000 from its debt redemption fund to its undesignated general fund balance on June 30, 2021, without requiring a levy reduction.

Requires the school board to approve the fund transfer before the fiscal year 2021 reporting deadline.

Makes the transfer contingent on the commissioner of education certifying that it does not increase state aid obligations; if it does, the district must pay that amount to the state before transferring any remaining balance.

Requires the district to demonstrate to the commissioner's satisfaction that the transfer will help the district regain an ongoing positive general fund balance, either in response to a negative fund balance trend letter or as part of the district's statutory operating debt plan.

Becomes effective the day following final enactment.