School Board of the City of Virginia Beach
Policy 3-43

BUSINESS AND NONINSTRUCTIONAL OPERATIONS

Fiscal Responsibility of Administrators for Individual Accounts

Administrators are only authorized to expend, during any given fiscal year, those funds within their respective accounts that must be expended to meet the board's stated goals and objectives, and to fund day-to-day operations. In that regard, administrators are prohibited from expending funds simply for the sake of ensuring that all of the funds allocated to their respective accounts are expended prior to the end of the fiscal year.

Legal Reference:

Code of Va., § 22.1-89. Management of funds.

 

Adopted by School Board:  May 6, 1997