School Board of the City of Virginia Beach
Regulation 5-47.1
STUDENTS
Management of Funds
The control, collection and disbursement of funds by student clubs and school organizations shall be done according to procedures established by the principal.
Receipts and expenditures of club and organization funds shall be so handled that large reserves do not build up over a period of years.
Student clubs and organizations will not be permitted to acquire ownership of fixed assets. Money raised must be expended impartially for the benefit of the students.
Funds of disbanded or inactive organizations shall be deposited in the individual school account.
Approved by Superintendent: September 21, 1993 (Effective August 14, 1993)