HB1786: School boards; funds appropriated by locality shall be reappropriated to board.
Be it enacted by the General Assembly of Virginia:
1. That § 22.1-100 of the Code of Virginia is amended and reenacted as follows:
§ 22.1-100. Unexpended school and educational funds.
All sums of money derived from the Commonwealth which are
unexpended in any year in any school division shall revert to the fund of the
Commonwealth from which derived unless the Board of Education directs
otherwise. All sums derived from local funds unexpended in any year in any local school division
shall remain a part of the
funds of the governing body appropriating the funds for use the next year, but
no not revert to the
locality but shall be reappropriated to the local school board for the
succeeding fiscal years. No local funds shall be subject to
redivision outside of the locality in which they were raised.