3171.1 - Non-Lapsing Education Fund
Business and Non-Instructional Operations
Non-Lapsing Education Fund
The Newtown Board of Education (Board) may request the Town’s Board of Finance deposit into a non-lapsing account any unexpended funds from the Board’s prior fiscal year general operating budget, provided such amount does not exceed the percentage of the total budgeted appropriation for education for such prior fiscal year as referenced in C.G.S. 10-248a.
Prior to any expenditure from the Non-Lapsing Education Fund the Board of Education shall vote to authorize such spending. The transfer of monies shall follow the process as laid out in policy 3160 (Budget Procedures and Line Item Transfers).
The Board may designate these funds for a specific purpose. The Board will expend these funds for such previously designated specific purpose except that they may also be used for other planned, extraordinary or emergency expenditures which may be necessary but not otherwise budgeted.
The account shall be subject to the annual audit as required by State statute. The Board shall review the fund balance on an annual basis.
(cf. 3160 – Budget Procedures and Line Item Transfers)
Legal Reference: Connecticut General Statutes
10-222 Appropriations and budget 10-248a Unexpended education funds account
Policy adopted: April 4, 2017 NEWTOWN PUBLIC SCHOOLS,
Revised: June 2, 2020 Newtown, Connecticut