1. (1)

   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:

      1. (i) technological equipment enhancements and expansions considered by the trustees to support enhanced educational programs in the classroom;
      2. (ii) facility expansion and remodeling considered by the trustees to support the delivery of educational programs or the removal and replacement of obsolete facilities;
      3. (iii) supplies and materials considered by the trustees to support the delivery of enhanced educational programs;
      4. (iv) student assessment and evaluation;
      5. (v) the development of curriculum materials;
      6. (vi) training for classroom staff considered by the trustees to support the delivery of enhanced educational programs;
      7. (vii) purchase, lease, or rental of real property that must be used to provide free or reduced price housing for classroom teachers;
      8. (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;
      9. (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; or
      10. (x) innovative educational programs as defined in 20-9-902 and technology deficiencies.
   2. (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. (2) The trustees of a district shall fund the school flexibility fund with the money allocated under [20-9-904 and] 20-9-542 and with the money raised by the levy under 20-9-544.
3. (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. (Subsection (1)(a)(x) and bracketed language in subsection (2) terminate December 31, 2023--sec. 33, Ch. 457, L. 2015.)

History: En. Sec. 3, Ch. 237, L. 2001; amd. Sec. 27, Ch. 457, L. 2015.