3171.1 - Non-Lapsing Education Fund

Policy 3171.1

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 

R3171.1 (a)
Business and Non-Instructional Operations

Non-Lapsing Education Fund 

Section 1.  The Board of Finance of the Town of Newtown established a Non-Lapsing Fund (the “Non-Lapsing Fund”) in accordance with ConnecticutGeneral Statutes 10-248a1 on May 12, 2014. 

Section 2.  The Board of Education may, subject to the approval of the Board of Finance, deposit into the Non-Lapsing Fund all or a portion of any unexpended funds from the prior fiscal year from the budgeted appropriation for education for the Town, provided that the amount deposited into the Non-Lapsing Fund shall not exceed the amount set forth in Section 10-248a of the Connecticut General Statutes.

The Board of Finance may authorize deposits into the Non-Lapsing Fund in each fiscal year such that the total amount in the Non-Lapsing Fund may accumulate without limitation over time if not expended.

Section 3

A.  The Board of Education may, subject to the approval of the Board of Finance, authorize expenditures from the Non-Lapsing Fund for any of the following educational purposes:

i.  Any Capital expenditures which have been previously approved in the five year Capital Improvement Plan;

ii.  Emergency conditions or replacements to capital items not previously included in the five year Capital Improvement Plan;

iii.  Special Education expenses in accordance with the March 20, 2018 Board of Education resolution establishing a Special Education Contingency line item; and
 
iv. Any expenses that the Board of Education determines are necessary to support students or that are in the best interests of the Newtown Public Schools.
B.  The Board of Education shall authorize each expenditure from the Non-Lapsing Fund.         
                                                                                                      

C.  The Board of Education shall submit a summary of the Non-Lapsing Fund’s balance and expenditures for the prior fiscal year to the Board of Finance on an annual basis.  

Section 4.  The Non-Lapsing Fund balance comes from an appropriation that was approved by the voters of the Town for educational purposes and the Board of Education shall use the Non-Lapsing Fund for educational purposes.  The Board of Education shall not consider the Non-Lapsing Fund as a source of funding which may be used to reduce the annual appropriation for education by the Town. 

NEWTOWN PUBLIC SCHOOLS
Newtown, Connecticut

Regulation Adopted June 24, 2020

Sec. 10-248a.  Unexpended education funds account.  For the fiscal year ending June 30, 2020, and each fiscal year thereafter, notwithstanding any provision of the general statutes or any special act, municipal charter, home rule ordinance or other ordinance, the board of finance in each town having a board of finance, the board of selectman in each town having no board of finance or the authority making appropriations for the school district for each town may deposit into a nonlapsing account any unexpended funds from the prior fiscal year from the budgeted appropriation for education for the town, provided (1) such deposited amount does not exceed two per cent of the total budgeted appropriation for education for such prior fiscal year, (2) each expenditure from such account shall be made only for educational purposes, and (3) each such expenditure shall be authorized by the local board of education for such town.
 

 
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