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2008 SESSION

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CHAPTER 131 An Act to amend and reenact § 22.1-115 of the Code of Virginia, relating to classification of expenditures of school funds. [H 770] Approved March 2, 2008

 

Be it enacted by the General Assembly of Virginia:

1.  That § 22.1-115 of the Code of Virginia is 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, (vii) debt and fund transfers, and (viii) technology, and (viii) (ix) contingency reserves.