Opinion No. 71-169 (1971) Ag

SURPLUS FUNDS — LIMITATION ON USE OF Surplus funds of a prior fiscal year cannot be used to extinguish obligations of such prior year during the subsequent year, where warrants were not legally issuable in the prior year. Further, any liability for transfer payments would not accrue past the year in which the liability arose. The Attorney General has considered your letter dated February 8, 1971, wherein you ask the following questions: 1. "If a school district from which students transfer to another school district fails to include in its annual estimate for tax levying purposes an amount…