20-9-543. School flexibility fund -- uses. (1) (a) The trustees of a district shall establish a school flexibility fund and may use the fund, in their discretion, for school district expenditures incurred for:
     (i) technological equipment enhancements and expansions considered by the trustees to support enhanced educational programs in the classroom;
     (ii) facility expansion and remodeling considered by the trustees to support the delivery of educational programs or the removal and replacement of obsolete facilities;
     (iii) supplies and materials considered by the trustees to support the delivery of enhanced educational programs;
     (iv) student assessment and evaluation;
     (v) the development of curriculum materials;
     (vi) training for classroom staff considered by the trustees to support the delivery of enhanced educational programs;
     (vii) purchase, lease, or rental of real property that must be used to provide free or reduced price housing for classroom teachers;
     (viii) salaries, benefits, bonuses, and other incentives for the recruitment and retention of classroom teachers and other certified staff, subject to collective bargaining when applicable; or
     (ix) increases in energy costs caused by an increase in energy rates from the rates paid by the district in fiscal year 2001 or from increased use of energy as a result of the expansion of facilities, equipment, or other resources of the district.
     (b) If the district's ANB calculated for the current fiscal year is less than the ANB for the current fiscal year when averaged with the 4 previous fiscal years, the district may use money from the school flexibility fund to phase in over a 5-year period the spending reductions necessary because of the reduction in ANB.
     (2) The trustees of a district shall fund the school flexibility fund with the money allocated under 20-9-542 and with the money raised by the levy under 20-9-544.
     (3) The financial administration of the school flexibility fund must be in accordance with the financial administration provisions of this title for a budgeted fund.

     History: En. Sec. 3, Ch. 237, L. 2001.