Department of education; carryover of funds
HRS §37-41.5
in effect37-41.5. Department of education; carryover of funds
(a) The department of education may retain up to five per cent of any appropriation, except for appropriations to fund financing agreements entered into in accordance with chapter 37D, at the close of a fiscal year and the funds retained shall not lapse until June 30 of the first fiscal year of the next fiscal biennium. The department of education shall submit:
(1) A report to the director of finance ninety days
after the close of each fiscal year, which shall be prepared in the form
prescribed by the director of finance and shall identify the total amount of
funds that will carry over to the next fiscal year; and
(2) A copy of this report to the legislature, as well
as a report identifying the carryover of funds on a school-by-school basis, at
least twenty days prior to the convening of the next regular session of the
legislature.
(b) Appropriations allocated to the schools
shall remain within the budget of the school to which they were originally
allocated; provided that the retention of an appropriation shall not be used by
the department as a basis for reducing a school's future budget requirements.
(c) [Repeal and reenactment on July 1,
2026. L 2024, c 10, §17.] In addition to the five per cent
retainage under subsection (a), the department of education may retain any
appropriation received pursuant to section 127A-16(a) or as reimbursement for
disaster relief pursuant to section 127A-16(e) at the close of the fiscal year
in which the appropriation or reimbursement was received, and the funds
retained shall not lapse until June 30 of the first fiscal year of the next
fiscal biennium. The funds shall be considered as separate and distinct from
the funds the department of education is authorized to retain pursuant to
subsection (a).
[L 1993, c 364, pt of §2; am L 1994, c 272, §22; am L Sp 1995,
c 9, §6; am L 1998, c 41, §4; am L 2000, c 202, §1; am L 2004, c 51, §52; am L
2017, c 139, §1; am L 2024, c 10, §14]
Source: Hawaii State Legislature (capitol.hawaii.gov), via Internet Archive capturesURL: http://www.capitol.hawaii.gov/hrscurrent/Vol01_Ch0001-0042F/HRS0037/HRS_0037-0041_0005.htmFetched: 11/10/2026