3160

Business/Non-Instructional Operations

Transfer of Funds Between Categories; Amendments

The Board of Education may transfer any unexpended or uncontracted for portion of any appropriation for school purposes to any other item of such itemized estimate, but expenditures shall not exceed the total appropriation made by the fiscal authority combined with such money as may be received from other sources for school purposes, i.e., grants, reimbursements, etc.

The Superintendent is authorized to transfer funds in an amount not to exceed $25,000 from any budget line item, under emergency conditions. All transfers made in such instances shall be announced at the next regularly scheduled meeting of the Board.

The definition of “budget line item,” as used in this policy, shall be limited to the following seven budget categories:

· Personal Services - Salary and Employee Benefits (Object Codes 100 and 200)

· Purchased Professional and Technical Services (Object Code 300)

· Purchased Property Services (Object Code 400)

· Other Purchased Services (Object Code 500)

· Supplies (Object Code 600)

· Property (Object Code 700)

· Other Goods and Services (Object Code 800)

The Superintendent will notify the Board of Education when expenditures are expected to exceed any budgeted line item by five (5%) percent or $10,000, whichever is greater.

Legal Reference: Connecticut General Statutes

10-222 Appropriations and budget (as amended by Public Act (8-141)

Financial Accounting for Local and State School Systems 1990

Policy adopted: February 11, 2003 EAST HADDAM PUBLIC SCHOOLS

Moodus, Connecticut