22.1-122.1 - Accounts to purchase certain materials and supplies. - Virginia Statutes

§ 22.1-122.1. Accounts to purchase certain materials and supplies.

A school board, by resolution and subject to the approval of the governingbody, may establish accounts in each of its departments and schools committedsolely for the purchase of instructional materials and office supplies. Theschool board may authorize the transfer of a percentage of the funds budgetedfor a school or division department, not to exceed thirty-five percent of theallocation, into such account.

Such account shall be managed by the principal of the school or head of thedivision department who shall file a monthly accounting of the funds with thedivision superintendent. No additional funds shall be transferred into anysuch account unless the monthly accounting has been filed. The funds in theaccount may be disbursed for payment of obligations by issuing a negotiablecheck signed by the principal or head of the division department, and asecond person to be designated by the school board. At the close of thefiscal year, all funds remaining in the accounts shall be returned to theschool board simultaneously with a full accounting of the disbursements. Allsuch accounts shall be subject to the requirements of § 15.2-2511 andrelevant provisions of the Virginia Public Procurement Act (§ 2.2-4300 etseq.).

(1989, c. 179; 1992, c. 175; 1999, c. 388.)