Each school shall be allotted from the current budget a sum of money, on a per student basis, for the purchase of certain items to be determined by the superintendent. All purchases made from these funds shall be processed and paid for through the central business office.
Any balance remaining in these funds at the end of the fiscal year shall be termed "surplus funds." There shall be no expenditures beyond the amount allotted to each school from this fund.
Code of Va., § 22.1 -122.1. Accounts to purchase certain materials and supplies.--"A school board, by resolution and subject to the approval of the governing body, may establish accounts in each of its schools committed solely for the purchase of instructional materials and office supplies which are not stocked or purchased directly by the school division, items costing no more than $500 per order and essential to meet immediate health, safety, or security needs. The school board may authorize the transfer of a percentage of the funds budgeted for a school, not to exceed thirty-five (35) percent of the allocation, into such account.
Such account shall be managed by the principal of the school who shall file a monthly accounting of the funds with the division superintendent. No additional funds shall be transferred into any such account unless the monthly accounting has been filed. The funds in the account may be disbursed for payment of obligations by issuing a negotiable check signed by the principal and a second person to be designated by the school board. At the close of the fiscal year, all funds remaining in the accounts shall be returned to the school board simultaneously with a full accounting of disbursements. All such accounts shall be subject to the requirements of § 15.1-167 and relevant provisions of the Virginia Public Procurement Act (§ 11-35 et. seq.)." (1992)
Adopted by School Board: June 5, 1973