New Jersey Statutes 18A:22-8.2. Certain transfers not allowed
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Terms Used In New Jersey Statutes 18A:22-8.2
- Commissioner: means the Commissioner of Education. See New Jersey Statutes 18A:1-1
- District: means a school district. See New Jersey Statutes 18A:1-1
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
3. No transfer may be made under this section from appropriations or surplus accounts for:
a. Interest and debt redemption charges;
b. Capital reserve account;
c. Items classified as general fund expenses except to other items so classified, or to the capital projects fund to supplement the proceeds from a bond authorization or lease purchase agreement upon application to and a formal finding by the commissioner that the transfer is in the best interests of both the students and taxpayers of the district after consideration of alternative corrective actions.
L.1979,c.294,s.3; amended 1990, c.52, s.44; 1991, c.62, s.22; 1993, c.83, s.5; 1996, c.138, s.54.