The Ocean Gate Board of Education recognizes that laws of the State of New Jersey and the interest of the community demand fiscal responsibility by the board in the operation of the school district. The board directs the implementation of appropriate fiscal controls to ensure that the board does not spend more than authorized funds and that expenditures do not exceed the amount budgeted for each major line item or program category or change the purposes for which amounts were allocated.

The board secretary shall keep the board informed of the district’s financial status according to law.

Except in the case of federal basic skills improvement funds, the board designates the chief school administrator to approve such transfers among line items and programs as are necessary between meetings of the board. Transfers approved by the chief school administrator shall be reported to the board, ratified, and recorded in the minutes at a subsequent meeting of the board, but not less than monthly.

When the necessity arises for an unbudgeted expenditure, and there are no available funds in other line items in the same category, the procedures required by administrative code shall be initiated.

NJSBA Review/Update: August 2008, October 2017
Adopted: January 21, 2009
Reviewed:

Key Words

Transfer of Funds, Budget, Budget Amendment

Legal References: N.J.S.A. 2C:30 4 Disbursing moneys, incurring obligations in excess of appropriations
N.J.S.A. 18A:17 9 Secretary; report of appropriations, etc.; custodial duties, etc.
N.J.S.A. 18A:18A 7 Emergency purchases and contracts
N.J.S.A. 18A:22 8.1 Transfer of amounts among line items and program categories
N.J.S.A. 18A:22 8.2 Prohibited transfers
N.J.S.A. 18A:24 48
through 54 Application of proceeds to new purpose; in districts having boards of school estimate; certification by boards of education
N.J.A.C. 6A:23A-13.3 Transfers during the budget year
N.J.A.C. 6A:23A-16.1 Prescribed system of double-entry bookkeeping and
See particularly: GAAP accounting
N.J.A.C. 6A:23A-16.2, -16.10
N.J.A.C. 6A:30-1.1et seq. Evaluation of the Performance of School Districts

Hawkins-Stafford Elementary and Secondary School Improvement Act of 1988, (Pub. L. No. 100-297) amending Elementary and Secondary Education Act of 1965.

Guidelines for Development of Program Plan Bilingual/ELL Education Programs New Jersey State Department of Education, revised annually

Possible
Cross References: *3000/3010 Concepts and roles in business and noninstructional operations; goals and objectives
*3100 Budget planning, preparation and adoption
3170 Budget administration
3300 Expenditures/expending authority
*3320 Purchasing procedures
*3570 District records and reports
3571 Financial reports
*6142.2 English as a second language; bilingual/bicultural
*6171.3 At-risk and Title 1
9127 Appointment of auditor
*9325.4 Voting method
*9326 Minutes

*Indicates policy is included in the Critical Policy Reference Manual.