Board of Education Transfer
of Funds
TRANSFER OF FUNDS BETWEEN LINE
ITEMS/AMENDMENTS/
PURCHASES NOT BUDGETED
Appropriate fiscal
controls shall ensure that the Board does not spend more than authorized funds.
The Board Secretary shall keep the Board informed of the district's financial
status according to law.
Except in the case of
federal basic skills improvement funds, the Board designates the Superintendent
of Schools to recommend such transfers among line items and programs as are
necessary between meetings of the Board.
Transfers recommended by the Superintendent shall be reported to the
Board, on a monthly basis, ratified, and recorded in the minutes at a
subsequent meeting of the Board.
When the necessity arises
for an unbudgeted expenditure, and there are no available funds in other line
items in the same category, the procedures required by administrative code and
Policy 3222 shall be initiated.
Date
Revised:
Date
Adopted:
Legal References: N.J.S.A. 2C:30‑4 Excess
expenditures
N.J.S.A.
18A:17‑9 Secretary;
report of appropriations, etc.; custodial duties, etc.
N.J.S.A.
18A:18A‑7 Emergency
purchases and contracts
N.J.S.A.
18A:22‑8.1 Transfer
of amounts among line items and program categories
N.J.S.A.
18A:22‑8.2 Prohibited
transfers
N.J.S.A.
18A:24‑48
through ‑54 Application of proceeds to new purpose;
in districts having Boards of school estimate; certification by Boards of
education
N.J.A.C.
6A:23-2.1 et seq. Double
Entry Bookkeeping and GAAP
See particularly: Accounting in Local
School Districts
N.J.A.C.
6A:23-2.2, -2.11
N.J.A.C.
6A:30-1.1 et seq. Evaluation
of the Performance of
Hawkins‑Stafford
Elementary and Secondary School Improvement Act of 1988
(Pub. L. 100‑297)
Manual for the Evaluation
of Local School Districts (August 2000)
Guidelines for Development of Application‑‑Basic
Skills Improvement Plan‑‑New Jersey State Department
of Education, revised annually
Guidelines
for Development of Program Plan‑‑Bilingual/ESL
Education Programs‑‑New Jersey State Department of
Education, revised annually
Cross References: 3000/3010 Concepts and roles in business and non-instructional
operations; goals and objectives
3100 Budget planning, preparation and
adoption
3170 Budget administration
3300 Expenditures/expending authority
3320 Purchasing procedures
3570 District records and reports
3571 Financial reports
6142.2 English as a second language;
bilingual/bicultural
6171.3 At-risk and Title 1
9127 Appointment of auditor
9325.4 Voting method
9326 Minutes