In keeping with the need for periodic reconciliation of the District budget, the School Committee will consider requests for transfers of funds between cost centers as they are recommended by the Superintendent.

The Committee wishes to be kept abreast of the need for these adjustments so that it may act promptly and expedite financial record keeping for the school district.

All requests for transfers between cost centers, such as school or department, as established during the annual budget deliberation, must be submitted to the School Committee for approval as part of the School Business Officer's regular report at the business meetings of the School Committee. Transfers between personnel and non-personnel accounts and transfers between building accounts must be submitted to the School Committee for approval.

All funds in the general account not expended by the close of the fiscal year will be returned to the municipality.

SOURCE: MASC Updated 2022

LEGAL REFS.:  MGL 71:37

DOR 94-660

CROSS REFS.:  DBG, Budget Adoption Procedures MASC policy

DI, Fiscal Accounting and Reporting MASC policy

Legal Reference: none                                               

Revised/Approved: 2/25/20

                                                                                                          Approved: 1/23/24

Approved: 6/11/24