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　　123B.83 Expenditure limitations.

　　Subdivision 1. Reduce statutory operating debt. (a)

　　Beginning in fiscal year 1978 and in each year thereafter, a

　　district which had statutory operating debt on June 30, 1977

　　pursuant to section 126C.42 must limit its expenditures in each

　　fiscal year so that the amount of its statutory operating debt

　　calculated at the end of that fiscal year is not greater than

　　the amount of the district's statutory operating debt as of June

　　30, 1977, as certified and adjusted by the commissioner,

　　increased by an amount equal to 2-1/2 percent of that district's

　　operating expenditures for the fiscal year for which the

　　statutory operating debt calculation is being made.

　　(b) When a district is no longer required to levy pursuant

　　to section 126C.42, subdivision 1, subdivision 2 is applicable.

　　Subd. 2. Undesignated fund balances. Beginning in

　　fiscal year 1978 and each year thereafter, any district not

　　subject to the provisions of subdivision 1 must limit its

　　expenditures so that its undesignated fund balances do not

　　constitute statutory operating debt as defined in section

　　126C.42.

　　Subd. 3. Failure to limit expenditures. If a

　　district does not limit its expenditures in accordance with this

　　section, the commissioner may so notify the appropriate

　　committees of the legislature by no later than January 1 of the

　　year following the end of that fiscal year.

　　Subd. 4. Special operating plan. (a) If the net

　　negative unreserved general fund balance, calculated in

　　accordance with the uniform financial accounting and reporting

　　standards for Minnesota school districts, as of June 30 each

　　year, is more than 2-1/2 percent of the year's expenditure

　　amount, the district must, prior to January 31 of the next

　　fiscal year, submit a special operating plan to reduce the

　　district's deficit expenditures to the commissioner for

　　approval. The commissioner may also require the district to

　　provide evidence that the district meets and will continue to

　　meet all high school graduation requirements.

　　Notwithstanding any other law to the contrary, a district

　　submitting a special operating plan to the commissioner under

　　this clause which is disapproved by the commissioner must not

　　receive any aid pursuant to chapters 120B, 122A, 123A, 123B,

　　124D, 125A, 126C, and 127A until a special operating plan of the

　　district is so approved.

　　(b) A district must receive aids pending the approval of

　　its special operating plan under paragraph (a). A district

　　which complies with its approved operating plan must receive

　　aids as long as the district continues to comply with the

　　approved operating plan.

　　HIST: 1976 c 271 s 33; 1977 c 447 art 7 s 13,14; 1979 c 334

　　art 6 s 5; 1980 c 609 art 7 s 8; 1981 c 358 art 7 s 11; 1986 c

　　444; 1987 c 398 art 7 s 42; 1990 c 562 art 8 s 8; 1991 c 130 s

　　37; 1991 c 265 art 11 s 7; 1992 c 499 art 12 s 29; 1Sp1995 c 3

　　art 16 s 13; 1996 c 412 art 1 s 4; 1998 c 397 art 6 s 36,124;

　　art 11 s 3; 1999 c 241 art 9 s 21; 2000 c 489 art 6 s 11