HB599 - School boards; unexpended local funds, capital reserve fund permitted.
Virginia - 2024 Regular Session
Introduced byShelly Anne Simonds, Atoosa R. Reaser
Last updated 6 months ago
2 Co-Sponsors
School boards; unexpended local funds; capital reserve fund permitted. Permits any school board, with the concurrence of the local governing body, to establish a capital reserve fund as a savings account into which it exclusively deposits the local operating funds that remain unexpended at the end of the year for future school division capital expenditures at no additional cost to local taxpayers, subject to certain conditions enumerated in the bill.
STATUS
Passed
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