West Virginia Code 18-5E-7 – Innovation in education fund
There is hereby created in the State Treasury a special revenue fund to be known as the "Innovation in Education Fund." The fund shall consist of all moneys received from whatever source to further the purpose of this article. The fund shall be administered by the state board solely for the purposes of this article, including providing grants and other financial assistance to innovation in education designated schools to implement and carry out such schools innovation in education plans. Any moneys remaining in the fund at the close of a fiscal year shall be carried forward for use in the next fiscal year. Fund balances shall be invested with the state's consolidated investment fund and any and all interest earnings on these investments shall be used solely for the purposes that moneys deposited in the fund may be used pursuant to this article.
Terms Used In West Virginia Code 18-5E-7
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
- State board: means the West Virginia Board of Education. See West Virginia Code 18-1-1