Q Has the Legislature changed the statutory requirements for school district ending fund balances?

A Yes. House Bill 482 amended Section 37-61-8 to delete the requirement for school districts to submit a plan to reduce costs if the ending fund balance in the maintenance fund is less than 7% of revenue. The new language requires the State Department of Education to adopt rules and regulations prescribing the method by which school district ending fund balances are examined for fiscal stability.