SF4344

Purpose

Authorize Independent School District No. 403 Ivanhoe to reallocate funds between its internal accounts to adjust its financial position.

Main Provisions

• On June 30, 2026, Ivanhoe may permanently transfer up to $68,000.
• Source of the transfer: the early childhood family education (ECFE) reserve balance within the district’s community service fund.
• Destination of the transfer: the undesignated balance in the district’s general fund.
• This transfer is allowed “notwithstanding” certain state laws, meaning it can occur even if those statutes would normally prevent it.

Notable Legal/Statutory Changes

• The bill uses a Notwithstanding clause to override Minnesota Statutes sections 123B.79, 123B.80, and 142D.11 subdivision 1.9 for this transfer, indicating the transfer can proceed despite provisions in those statutes.

Effective Date and Scope

• Effective date: June 30, 2026 (the transfer may occur on or after this date).
• Scope: Applies specifically to Independent School District No. 403 Ivanhoe; limited to the transfer of up to $68,000.

Potential Implications

• The transfer reduces the ECFE reserve within the community service fund and increases the general fund’s undesignated balance.
• The action is permanent for the amount transferred.
• The transfer is optional up to the $68,000 limit; the district may choose whether to execute it.

Practical Considerations

• Stakeholders may want to consider how shifting funds from ECFE reserves to the general fund could affect early childhood education programming and general fund obligations.

Relevant Terms - Independent School District No. 403 Ivanhoe - Early Childhood Family Education (ECFE) reserve balance - Community Service Fund - Undesignated balance in the general fund - Permanent transfer - Notwithstanding - Minnesota Statutes 123B.79, 123B.80, 142D.11 subdivision 1.9 - June 30, 2026 - Transfer amount: up to $68,000