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2002 SESSION

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022326512
SENATE BILL NO. 604 AMENDMENT IN THE NATURE OF A SUBSTITUTE (Proposed by the House Committee on Education on February 27, 2002) (Patron Prior to Substitute--Senator Potts) A BILL to amend and reenact § 22.1-115 of the Code of Virginia, relating to the system of accounting in public schools.

Be it enacted by the General Assembly of Virginia:

1. That § 22.1-115 of the Code of Virginia are amended and reenacted as follows:

§ 22.1-115. System of accounting; statements of funds available; classification of expenditures.

The State Board, in conjunction with the Auditor of Public Accounts, shall establish and require of each school division a modern system of accounting for all school funds, state and local, and the treasurer or other fiscal agent of each school division shall render each month to the school board a statement of the funds in his hands available for school purposes. The Board shall prescribe the following major classifications for expenditures of school funds: (i) instruction, (ii) administration, attendance and health, (iii) pupil transportation, (iv) operation and maintenance, (v) school food services and other noninstructional operations, (vi) facilities, and (vii) debt and fund transfers, and (viii) contingency reserves.