| Section: | 3000 Business | | Policy Name: | Expenditures and Transfers | | Policy Number: | 3160 | | Date Approved: | 12/14/1989 | | Last Revised: | 6/14/2004 |
Expenditures
The money in the approved budget shall be expended by and at the discretion of the board. Expenditures in each fiscal year shall not exceed the appropriation made by the fiscal authority combined with such money as may be received from other sources for school purposes. If any occasion arises whereby the Board needs additional funds, the Board Chairperson shall notify the appropriating authority and submit a request for additional funds in the manner prescribed by the municipality. No additional funds shall be expended unless such supplemental appropriation is granted and no supplemental expenditures shall be made in excess of those granted through the appropriating authority.
The Superintendent and his/her designates are authorized to make expenditures according to the allocations listed in the approved budget without approval of the Board.
Transfer of Funds between Categories; Amendments
The Board of Education may transfer any unexpended or uncontracted for portion of any appropriation for school purposes to any other item of such itemized estimate.
No allocation category in the budget may be over-expended. When purchases may be in excess of the amount allocated, a transfer of funds must be approved by the board or superintendent. However, under emergency circumstances, the Superintendent (or his/her designee) shall have the authority to make transfers between categories that do not exceed five percent (5%) of the total annual budget if the urgent need for the transfer prevents the Board from meeting in a timely fashion to consider such transfer.
The results of all transfers made shall be reflected in the financial reports to the Board. Financial reports shall be made to the board its regularly scheduled meeting.
Legal Reference:
Connecticut General Statutes
10-222 Appropriations and budget
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