22.1-100 - Unexpended school and educational funds. - Virginia Statutes

§ 22.1-100. Unexpended school and educational funds.

All sums of money derived from the Commonwealth which are unexpended in anyyear in any school division shall revert to the fund of the Commonwealth fromwhich derived unless the Board of Education directs otherwise. All sumsderived from local funds unexpended in any year shall remain a part of thefunds of the governing body appropriating the funds for use the next year,but no local funds shall be subject to redivision outside of the locality inwhich they were raised.

(Code 1950, § 22-138; 1956, Ex. Sess., c. 67; 1980, c. 559.)