POLICY MANUAL

Local Funds - Policy P4-15

The Lynchburg City School Board receives local funds for school operation from revenues generated through a tax levy set annually by the city council.

Legal Reference:

Code of Va., § 22.1-88. Of what school funds to consist.--"The funds available to the school board of a school division for the establishment, support and maintenance of the public schools in the school division shall consist of state funds appropriated for public school purposes and apportioned to the school board, federal funds appropriated for educational purposes and apportioned to the school board, local funds appropriated by a local governing body or such funds as shall be raised by local levy as authorized by law, donations or the income arising therefrom, and any other funds that may be set apart for public school purposes." (1988)

Code of Va., § 22.1-116. How and by whom funds for school division kept and disbursed.--"The treasurer or comparable officer of each county, city or part thereof constituting a school division or town, if the town constitutes the school division, shall be charged with the responsibility for the receipt, custody and disbursement of the funds of the school board and shall keep such funds in an account or accounts separate and distinct from all other funds." (1980)

Adopted by School Board: January 6, 1981

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