MANAGEMENT OF FUNDS
The School Board shall manage and control the funds made available tothe School Board for the public schools and may incur costs andexpenses. The Superintendent or his/her designee shall be responsible foradministering the division budget in accordance with School Boardpolicies and applicable state and federal laws and regulations. Therefore, the Superintendent and his/her designee will use appropriatefiscal planning and management methods, modeled after the bestaccepted business practices and directed toward the educational goalsof the division. The City Council approves the School Board budget by totalexpenditures for each of the five funds (operating, community service,debt service, food services, and school improvement); therefore, theSchool Board has the authority to transfer amounts within each fundbetween line items. The transfer of funds from one fund to anothermust have approval by the School Board and the City Council prior toaction. The Superintendent and his/her designee are authorized by the SchoolBoard to make line item transfers within a fund up to the dollar amountslisted below, and to approve transfers requested by Principals andProgram Managers. Any transfers of amounts of funds in excess of thedollar amounts identified below require School Board approval. TheSchool Board must approve any transfers of funds from the reserve forcontingencies to other cost centers and locations.
Transfers of Funds by Principals and Program Managers
1.Principals and Program Managers may transfer funds, not toexceed $15,000, within or between cost centers at the same
Adopted:9/17/74Revised:3/8/00 _____________________________________________ Falls Church City Public Schools