Note: This version of section effective until 1-1-2019. See also following version of this section, effective 1-1-2019.

Sec. 6. "Deficit financing" for a budget year means actual expenditures exceeding the employer's current year actual general fund revenue.

[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-7.5-1-2(q).]

As added by P.L.1-2005, SEC.13. Amended by P.L.48-2011, SEC.7.