The transfer of funds between and within functional unit appropriations of the General Fund is commonly required during the school year. The Assistant Superintendent for Business, under the direction of the Superintendent, shall periodically review the budget for deviations from the projected necessary appropriations.
The Superintendent, in accordance with the Regulations of the Commissioner of Education, is authorized to make budget transfers between line item accounts, so long as the transfer is within the same functional code, payroll codes and funds other than the General Fund. All other transfers in excess of $20,000 require prior Board approval. The Superintendent will report all transfers to the Board as part of the monthly financial reporting.
Ref: Education Law §1718
8 NYCRR §170.2(l)
Adoption date: December 1, 1995
Reviewed Date: December 15, 2008
Amended date: September 27, 2021
Amended date: October 24, 2022
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