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BUSINESS SECTION Policy:

4.16

MANAGEMENT OF FUNDS

The School Board shall manage and control the funds made available to
the School Board for the public schools and may incur costs and
expenses.

The Superintendent or his/her designee shall be responsible for


administering the division budget in accordance with School Board
policies and applicable state and federal laws and regulations.
Therefore, the Superintendent and his/her designee will use appropriate
fiscal planning and management methods, modeled after the best
accepted business practices and directed toward the educational goals
of the division.

The City Council approves the School Board budget by total


expenditures for each of the five funds (operating, community service,
debt service, food services, and school improvement); therefore, the
School Board has the authority to transfer amounts within each fund
between line items. The transfer of funds from one fund to another
must have approval by the School Board and the City Council prior to
action.

The Superintendent and his/her designee are authorized by the School


Board to make line item transfers within a fund up to the dollar amounts
listed below, and to approve transfers requested by Principals and
Program Managers. Any transfers of amounts of funds in excess of the
dollar amounts identified below require School Board approval. The
School Board must approve any transfers of funds from the reserve for
contingencies to other cost centers and locations.

Transfers of Funds by Principals and Program Managers

1. Principals and Program Managers may transfer funds, not to


exceed $15,000, within or between cost centers at the same

Adopted: 9/17/74 Revised: 3/8/00


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Falls Church City Public Schools
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BUSINESS SECTION Policy:
4.16

location after review and approval by the Superintendent or


designee. Transfer of larger amounts require separate School
Board approval.

2. Principals and Program Managers may transfer funds, not to


exceed $10,000, to other cost centers outside of their budget
location after review and approval by the Superintendent or
designee. Transfers of larger amounts require separate School
Board approval.

Approval of such transfers will be based upon need, emergencies or


other circumstances that were unforeseen at the time of the adoption of
the budget. The Superintendent shall establish procedures governing
requests for action on transfer of funds.

Legal Reference: Code of Virginia, 1950, as amended, Sections 22.1-78,


22.1-88. 22.1-89; Charter of the City of Falls Church, Section 6.14

Adopted: 9/17/74 Revised: 3/8/00


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Falls Church City Public Schools
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