HOUSE BILL NO. 274
AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO EDUCATION.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend § 1509, Title 14 of the Delaware Code, by deleting the last sentence in the third paragraph as it appears therein and by substituting in lieu thereof the following:
"If the July 31 report projects an October 15 surplus that is less than the amount required to cover 1 month's full local payroll cycle, the district shall also indicate what steps it plans to take to attempt to assure that such a minimum balance will be in place in the subsequent fiscal year.
Whenever the July 31 report shows that a district will be unable to meet all or some of its payroll obligations through October 15, the district may meet those obligations by requesting from the Secretary of Education with the approval of Secretary of Finance an advance of State funds in an amount sufficient to cover the district's payroll obligations through October 15. Upon such request and approval, the Secretary of Finance shall cause to have the requested funds advanced to the district, and the district shall reimburse the State for those funds no later than November 15 of the same year."
Approved July 16, 1997