§ 70-5-129.2. Separate accounts - Disbursements - Approval by boards of education - Transfer of funds.

A.  In conformance with any other law providing procedures for the deposit of such funds, area school districts shall be authorized to establish separate accounts for deposits received for live work, resale items, student financial aid, tuitions and other fees.  Such funds shall be deposited to the credit of the account maintained for that particular purpose.  Disbursements from each account shall be by check countersigned by the custodian of the account and shall not be used for any purpose other than that for which the account was originally created.

B.  The board of education of the technology center school district, at the beginning of each fiscal year and as needed during each fiscal year, shall approve all accounts created pursuant to this section and all purposes for which the monies collected in each account may be expended.  Provided, the board of education may direct by written resolution that any balance in excess of the amount needed to fulfill the function or purpose for which an account was established may be transferred to another account by the custodian.

Added by Laws 1990, c. 221, § 9, operative July 1, 1990.  Amended by Laws 2001, c. 33, § 74, eff. July 1, 2001.