Sec 15-999. Preference of payment of warrants; use of balance of school fund remaining at close of fiscal year

A. All warrants registered after January 1, 1936 and drawn on the county treasurer against the school fund of the school district by the county school superintendent or finance officer of a school district that has assumed accounting responsibility pursuant to section 15-914.01 on the order of the governing board shall be entitled to preference of payment out of the school fund according to priority of registration.

B. Unless otherwise provided in this chapter and chapter 10 of this title, if a balance remains in the school fund of a school district at the close of a fiscal year, such balance shall be used for reduction of school district taxes for the budget year.

C. A warrant that is drawn on the school fund of the school district by the county school superintendent or finance officer of a school district that has assumed accounting responsibility pursuant to section 15-914.01 and that is not presented for payment within one year after the date of issuance is void. All warrants not presented within one year shall have no further force or effect, and any monies held at the expiration of such time in any fund or account for the payment of the warrants shall be transferred or reverted to the fund upon which the warrants were drawn.