Title 22
School District Accounts
22-32-110. Board of education – specific powers.
(1) (x) To elect to have moneys belonging to the school district withdrawn from the custody of the county treasurer and paid over to the treasurer of the board in the manner provided by law;
22-40-102. Certification – tax revenues.
(6) Each school district, with assistance as may be required from the department of education, shall inform the county treasurer for each county within the district’s boundaries no later than December 15 of each year of the district’s general fund mill levy in the absence of funds estimated to be received by the district pursuant to the “Public School Finance Act of 2025”, article 54 of this title, and the estimated funds to be received for the general fund of the district from the state.
22-40-104. County treasurer – accounts – warrants.
(1) (a) It is the duty of the county treasurer to keep separate accounts by funds and subsidiary accounts for the bond redemption fund of each school district in his or her county, and said funds and accounts shall be subject to the warrants of said district. The tax revenues shall be credited to the proper fund and account, together with any penalty interest collected thereon.
(b) Notwithstanding the provisions of paragraph (a) of this subsection (1), upon receipt of a notice from the state treasurer issued pursuant to section 22-41-110 (3), a county treasurer shall withhold from the school district named in the notice and forward to the state treasurer the amount of tax revenues specified in the notice that would otherwise be credited to the school district.
(1.2) For bonded indebtedness issued after June 1, 2011, the valuation for assessment of taxable property for the purposes of this section shall be the valuation for assessment of taxable property in the district as it existed on the December 10 prior to the date of issuance of the bonded indebtedness. The county assessor to the board of county commissioners shall report the valuation for assessment of taxable property in the district to the district and the department of education on each December 10.
(2) If only a portion of a school district is situate within the territorial limits of said county and the headquarters of said school district are not located therein, the county treasurer shall transfer, at the end of each month, all moneys which have accrued to the credit of said district to the county treasurer of the county wherein the headquarters of said school district is located. No warrant shall be drawn by a school district situate in more than one county against its moneys except against those moneys in the custody of the county treasurer of the county wherein the school district headquarters is located.
(3) Except in the case of a school district which has elected to withdraw its moneys, if a school district warrant is presented to the county treasurer of a school district situate in his county and there are no moneys or insufficient moneys to the credit of said school district in the proper fund or account thereof to pay such warrant, it is the duty of said county treasurer to register such warrants in the order of presentment and endorse each such warrant “no funds”. Registered warrants shall draw interest from the date of such registration and endorsement at the rate and in the manner as registered county warrants. The county treasurer shall keep a list of all warrants so registered and endorsed and furnish a copy of said list to the treasurer of said school district. The county treasurer shall pay both the principal and interest of said warrants, in the order of registration, when there are sufficient moneys to the credit of the school district fund or account upon which any such warrant was drawn. It is his duty to cause to be published in a newspaper with general distribution in said school district for five days a notice that certain school district warrants, describing said warrants by numbers and amounts, will be paid upon presentation at the expiration of said five days notice, at which time said warrants shall cease to bear interest.
(4) It is unlawful for a school district to issue warrants in excess of the amount budgeted or appropriated to or the anticipated revenues for any fund, whichever is less, for said school district’s fiscal year whether or not the board of education of said district has elected to withdraw its moneys from the custody of the county treasurer.
(5) It is the duty of the county treasurer to cancel all paid school district warrants with a proper cancelling stamp and indicate the date of payment thereof.
22-42-118. Tax levy to pay principal and interest.
(1) If any school district has issued bonds under the provisions of this article, it is the duty of the board of county commissioners of the county in which said district is situated, at the time of levying other school district taxes, to levy a tax on all the taxable property of said district at a rate sufficient to produce such amount as has been certified by the board of education of said district, for the purpose of paying bonds not yet due, as provided in section 22-42-117.
(2) Except when said school district has sufficient moneys or securities in a refunding escrow account to satisfy the bonded indebtedness obligations which will be due and payable during said district’s next ensuing calendar year, if the board of education fails to certify such an amount to the board of county commissioners as required by section 22-42-117, the board of county commissioners, nevertheless, shall levy upon the appropriate taxable property of said district a tax in addition to the taxes levied for other purposes, in an amount sufficient to pay all installments of principal and interest of said bonds that shall become due during the next ensuing calendar year, or, if said bonds do not become due and payable in series at different times, in an amount sufficient to pay all installments of interest then to become due and the aforesaid portion of principal.
(3) The amount certified pursuant to section 22-42-117 and the rate of the tax levy required by this section shall be sufficient to cover any deficiency which may occur by reason of delinquent payment of taxes.
(4) The county treasurer shall not collect any fee on the moneys received by virtue of a tax levied pursuant to this section, nor shall he collect any fee on any moneys received from any other source to pay bonds or interest thereon. The county treasurer may collect a fee, as provided in section 30-1-102 (1) (q), C.R.S., for services rendered by virtue of his office having been designated as the place of payment or optional place of payment for bonds issued under this article or under article 43 of this title, but this fee shall be collected only when the county treasurer has a financial institution perform such services regarding the bonds, and such fee shall be in an amount equal to the fee charged the county treasurer by the financial institution.
22-42-119. Bond fund – payment and redemption.
(1) Such taxes shall be collected in the same manner as other school district taxes and when collected shall be placed by the county treasurer in the bond redemption fund of said school district. The moneys in said fund shall be used only for payment of interest upon and for the redemption of such bonds, upon orders signed and countersigned in the manner provided by law for the execution of other school district orders; but the board of education of said school district may withdraw, or the board of education may instruct the third-party custodian administering the bond redemption fund pursuant to section 22-45-103 (1) (b) (V) to withdraw, any or all of such moneys credited to said fund which are temporarily not needed to satisfy the obligations of bonded indebtedness, for the purpose of depositing or investing such moneys in the manner prescribed by law.
(2) Redemption of said bonds prior to the respective maturities thereof may be made in the order as determined by the board in the resolution authorizing the issuance of said bonds and set forth on the face of said bonds. Notice of the redemption of said bonds, prior to maturity, shall be made in the manner prescribed in said bond resolution. In the absence of such prescribed manner in the bond resolution, a redemption prior to maturity shall be made in the following manner: When authorized by the board of education, the treasurer of said school district shall advertise in some newspaper published in the school district once a week for two consecutive weeks that on a certain day, named in said advertisement, not less than four weeks after the time of the first publication thereof, he will redeem certain of said bonds therein described by number, amount, and date of issue thereof and that the principal, interest to redemption date, and redemption premium, if any, of said bonds will be paid in accordance with the bond resolution authorizing such bonds. The notice shall indicate also that, after the day so fixed for redemption, the interest on the bonds shall cease. After the day of redemption so fixed in said notice, the bonds so advertised and called to be redeemed shall cease to draw interest.
(3) If the bonds are made payable at the office of the county treasurer, any redemption of such bonds shall also be made at the office of the county treasurer of the county, who shall make a notation of such payment or redemption upon his books.
(4) If the bonds are made payable at some place other than the office of the county treasurer, such bonds shall be redeemable at the place where payable, and the treasurer of the district shall, immediately after the payment or redemption, inform the county treasurer that certain bonds, describing them by number, amount, and date of issue, have been paid or redeemed and cancelled, and said county treasurer shall make a record of such payment or redemption upon his books.
(5) In all cases bonds when paid or redeemed shall be cancelled by the district treasurer and preserved by him and his successors for a period of one year after the date of their payment or redemption.
22-42-120. Place of payment.
(1) The board of education of a school district is authorized to designate the office of the county treasurer of the county in which the headquarters of such school district is situated as the place of payment or optional place of payment of the principal of or interest on any bonds issued by any such school district, or to designate any commercial bank or trust company as the place of payment or optional place of payment of the principal of or interest on any bonds issued by any such school district, and the commercial bank or trust company so designated may be located either within or without this state.
(2) It is the duty of the board of education of said school district to cause sufficient moneys from said tax levy or refunding escrow account to be placed from time to time at the place of payment, or optional place of payment, designated on said bonds in an amount to satisfy the principal and interest obligations of said bonds as the same may become due and payable from time to time. It is the duty of the treasurer of said school district to pay, or instruct the third-party custodian administering the school district’s bond redemption fund pursuant to section 22-45-103 (1) (b) (V) to pay, the obligations of said bonds as the same may become due and payable, upon presentation of the bonds and coupons respectively evidencing such obligations, from any moneys to the credit of the appropriate account available for that purpose.
ACCOUNTING AND REPORTING
22-45-103. Funds.
(1)(b)(VI) Bond redemption fund. (VI) A school district is not required to designate a third-party custodian to administer the school district’s bond redemption fund if the county treasurer keeps the funds and accounts of the school district as provided in section 22-40-104. A school district is not required to designate a third-party custodian to administer any portion of the school district’s bond redemption fund that consists of revenues received from bonds or other obligations for which the school district has given notice to the state treasurer that it will not accept payment by the state treasurer on behalf of the school district as provided in section 22-41-110 (1)(a).
22-45-108. Report of county treasurer.
(1) The county treasurer shall, no later than the tenth day of each month, render a monthly itemized statement of account, on a form prescribed by the state board of education, to each school district in his county, and to each joint school district if the headquarters thereof are located in his county, in cases where the board of education of such school district or joint school district has elected, pursuant to law, to have school district moneys received by the county treasurer paid over to the treasurer of the district.
(2) Repealed.
PUBLIC SCHOOL TRANSPORTATION FUND
22-51-109. County treasurers’ fees.
No fees shall be charged by the county treasurers of the state for receiving or crediting funds of the school districts received under the provisions of this article.
PUBLIC SCHOOL FINANCE ACT OF 1994
22-54-119. General Provisions.
(1) The county treasurer shall charge a collection fee of one-quarter of one percent upon moneys collected for or distributed to any district located in whole or in part in the county from taxes levied for the general fund of the district.
(2) Nothing in this article shall affect or limit the authority of any district to make such other tax levies as are provided by law.
(3) Nothing in this article shall in any manner affect the rights of districts to moneys allowable or payable to such districts under the provisions of other laws.
(4) The Department of Education shall issue a separate school code to the following programs:
(a) The APEX homeschool program in St. Vrain Valley school district RE-1J;
(b) The options school in Aurora public schools; and
(c) Any Similar student enrichment program approved for a new code by the department of education on or afer May 21, 2022.