{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/22.1-100.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/22.1-100.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/22.1-100.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/22.1-100.html"}],"law_id":66264,"edition_id":1,"section_id":66264,"structure_id":14186,"section_number":"22.1-100","catch_line":"Unexpended school and educational funds; capital reserve fund permitted","history":"Code 1950, \u00a7 22-138; 1956, Ex. Sess., c. 67; 1980, c. 559; 2024, c. 294.","full_text":"A\n\nAll 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. Except as otherwise provided in subsection B, all sums derived from local funds unexpended in any year shall remain a part of the funds of the governing body appropriating the funds for use the next year, but no local funds shall be subject to redivision outside of the locality in which they were raised.B\n\nAny school board may, with the concurrence of the local governing body, establish a capital reserve fund as a savings account into which it exclusively deposits the unexpended local operating funds described in subsection A for future school division capital expenditures at no additional cost to local taxpayers, subject to the following conditions:1\n\nAny deposit into such fund shall be designated at the time of deposit for a specific capital project named by the school board;2\n\nNo deposit into such fund shall be withdrawn or used for any purpose other than the capital project designated pursuant to subdivision 1; and3\n\nThe school board may make withdrawals from such fund at any time, and no such withdrawal shall be encumbered by any deadlines or other timelines or time-based restrictions.","order_by":null,"text":{"0":{"id":240659,"text":"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. Except as otherwise provided in subsection B, all sums derived from local funds unexpended in any year shall remain a part of the funds of the governing body appropriating the funds for use the next year, but no local funds shall be subject to redivision outside of the locality in which they were raised.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":240660,"text":"Any school board may, with the concurrence of the local governing body, establish a capital reserve fund as a savings account into which it exclusively deposits the unexpended local operating funds described in subsection A for future school division capital expenditures at no additional cost to local taxpayers, subject to the following conditions:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":240661,"text":"Any deposit into such fund shall be designated at the time of deposit for a specific capital project named by the school board;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":240662,"text":"No deposit into such fund shall be withdrawn or used for any purpose other than the capital project designated pursuant to subdivision 1; and","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":240663,"text":"The school board may make withdrawals from such fund at any time, and no such withdrawal shall be encumbered by any deadlines or other timelines or time-based restrictions.","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2"}},"ancestry":[{"id":14186,"edition_id":1,"name":"State and Local Funds","identifier":"1","label":"article","depth":3,"order_by":1,"parent_id":13154,"metadata":{},"date_created":"2026-06-26 03:47:11","date_modified":"2026-06-26 03:47:11","permalink":{"id":184215,"object_type":"structure","relational_id":14186,"identifier":"1","token":"22.1\/8\/1","url":"\/22.1\/8\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13154,"edition_id":1,"name":"Public School Funds","identifier":"8","label":"chapter","depth":2,"order_by":1,"parent_id":12823,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":184213,"object_type":"structure","relational_id":13154,"identifier":"8","token":"22.1\/8","url":"\/22.1\/8\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12823,"edition_id":1,"name":"Education","identifier":"22.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:55","date_modified":"2026-06-26 03:43:55","permalink":{"id":180949,"object_type":"structure","relational_id":12823,"identifier":"22.1","token":"22.1","url":"\/22.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":66264,"structure_id":14186,"section_number":"22.1-100","catch_line":"Unexpended school and educational funds; capital reserve fund permitted","url":"\/22.1-100\/","token":"22.1\/8\/1\/22.1-100","metadata":false},{"id":55364,"structure_id":14186,"section_number":"22.1-100.1","catch_line":"Lottery proceeds nonrecurring costs escrow accounts","url":"\/22.1-100.1\/","token":"22.1\/8\/1\/22.1-100.1","metadata":false},{"id":76120,"structure_id":14186,"section_number":"22.1-101","catch_line":"Repealed","url":"\/22.1-101\/","token":"22.1\/8\/1\/22.1-101","metadata":false},{"id":74908,"structure_id":14186,"section_number":"22.1-101.1","catch_line":"Increase of funds for certain nonresident students; how increase computed and paid; billing of out-of-state placing agencies or persons","url":"\/22.1-101.1\/","token":"22.1\/8\/1\/22.1-101.1","metadata":false},{"id":64959,"structure_id":14186,"section_number":"22.1-88","catch_line":"Of what school funds to consist","url":"\/22.1-88\/","token":"22.1\/8\/1\/22.1-88","metadata":false},{"id":57224,"structure_id":14186,"section_number":"22.1-89","catch_line":"Management of funds","url":"\/22.1-89\/","token":"22.1\/8\/1\/22.1-89","metadata":false},{"id":59241,"structure_id":14186,"section_number":"22.1-89.1","catch_line":"Management of cafeteria funds","url":"\/22.1-89.1\/","token":"22.1\/8\/1\/22.1-89.1","metadata":false},{"id":80975,"structure_id":14186,"section_number":"22.1-89.2","catch_line":"Financial records retention and disposition schedule","url":"\/22.1-89.2\/","token":"22.1\/8\/1\/22.1-89.2","metadata":false},{"id":57636,"structure_id":14186,"section_number":"22.1-89.3","catch_line":"Repealed","url":"\/22.1-89.3\/","token":"22.1\/8\/1\/22.1-89.3","metadata":false},{"id":76526,"structure_id":14186,"section_number":"22.1-89.4","catch_line":"Certain policy required; partnerships and sponsorships","url":"\/22.1-89.4\/","token":"22.1\/8\/1\/22.1-89.4","metadata":false},{"id":58133,"structure_id":14186,"section_number":"22.1-90","catch_line":"Annual report of expenditures","url":"\/22.1-90\/","token":"22.1\/8\/1\/22.1-90","metadata":false},{"id":84642,"structure_id":14186,"section_number":"22.1-90.1","catch_line":"Inclusion of instructional spending in the School Performance Report Card","url":"\/22.1-90.1\/","token":"22.1\/8\/1\/22.1-90.1","metadata":false},{"id":84324,"structure_id":14186,"section_number":"22.1-91","catch_line":"Limitation on expenditures; penalty","url":"\/22.1-91\/","token":"22.1\/8\/1\/22.1-91","metadata":false},{"id":77426,"structure_id":14186,"section_number":"22.1-92","catch_line":"Estimate of moneys needed for public schools; notice of costs to be distributed","url":"\/22.1-92\/","token":"22.1\/8\/1\/22.1-92","metadata":false},{"id":85064,"structure_id":14186,"section_number":"22.1-93","catch_line":"Approval of annual budget for school purposes","url":"\/22.1-93\/","token":"22.1\/8\/1\/22.1-93","metadata":false},{"id":56160,"structure_id":14186,"section_number":"22.1-94","catch_line":"Appropriations by county, city or town governing body for public schools","url":"\/22.1-94\/","token":"22.1\/8\/1\/22.1-94","metadata":false},{"id":59475,"structure_id":14186,"section_number":"22.1-95","catch_line":"Duty to levy school tax","url":"\/22.1-95\/","token":"22.1\/8\/1\/22.1-95","metadata":false},{"id":59989,"structure_id":14186,"section_number":"22.1-96","catch_line":"Proration of operating cost, expenditures for capital outlay purposes and indebtedness for construction of buildings in certain school divisions","url":"\/22.1-96\/","token":"22.1\/8\/1\/22.1-96","metadata":false},{"id":76658,"structure_id":14186,"section_number":"22.1-97","catch_line":"Calculation and reporting of required local expenditures; procedure if locality fails to appropriate sufficient educational funds","url":"\/22.1-97\/","token":"22.1\/8\/1\/22.1-97","metadata":false},{"id":77449,"structure_id":14186,"section_number":"22.1-98","catch_line":"Reduction of state aid when length of school term below 180 days or 990 hours","url":"\/22.1-98\/","token":"22.1\/8\/1\/22.1-98","metadata":false},{"id":66234,"structure_id":14186,"section_number":"22.1-98.1","catch_line":"Extended School Year Incentive Program","url":"\/22.1-98.1\/","token":"22.1\/8\/1\/22.1-98.1","metadata":false},{"id":75612,"structure_id":14186,"section_number":"22.1-98.2","catch_line":"Certain agreements; adjustment of state share for basic aid","url":"\/22.1-98.2\/","token":"22.1\/8\/1\/22.1-98.2","metadata":false},{"id":85148,"structure_id":14186,"section_number":"22.1-99","catch_line":"Approval and certification of apportionment of school funds","url":"\/22.1-99\/","token":"22.1\/8\/1\/22.1-99","metadata":false}],"next_section":{"id":55364,"structure_id":14186,"section_number":"22.1-100.1","catch_line":"Lottery proceeds nonrecurring costs escrow accounts","url":"\/22.1-100.1\/","token":"22.1\/8\/1\/22.1-100.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/22.1-100\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1980, chapter 559; in 2024, chapter 294<\/a>.<\/p>","references":[{"id":55364,"section_number":"22.1-100.1","catch_line":"Lottery proceeds nonrecurring costs escrow accounts","order_by":null,"url":"\/22.1-100.1\/"}],"refers_to":false,"permalink":{"id":184217,"object_type":"law","relational_id":66264,"identifier":"22.1-100","token":"22.1\/8\/1\/22.1-100","url":"\/22.1-100\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/22.1-100\/","token":"22.1\/8\/1\/22.1-100","dublin_core":{"Title":"Unexpended school and educational funds; capital reserve fund permitted","Type":"Text","Format":"text\/html","Identifier":"\u00a7 22.1-100","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> 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<\/span> of Education directs otherwise. Except as otherwise provided in subsection B, all sums derived from local funds unexpended in any year shall remain a part of the funds of the governing body<\/span> appropriating the funds for use the next year, but no local funds shall be subject to redivision outside of the locality in which they were raised. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Any school board<\/span> may, with the concurrence of the local governing body<\/span>, establish a capital reserve fund as a savings account into which it exclusively deposits the unexpended local operating funds described in subsection A for future school division capital expenditures at no additional cost to local taxpayers, subject to the following conditions: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Any deposit into such fund shall be designated at the time of deposit for a specific capital project named by the school board<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> No deposit into such fund shall be withdrawn or used for any purpose other than the capital project designated pursuant to subdivision 1; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> The school board<\/span> may make withdrawals from such fund at any time, and no such withdrawal shall be encumbered by any deadlines or other timelines or time-based restrictions. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nUNEXPENDED SCHOOL AND EDUCATIONAL FUNDS; CAPITAL RESERVE FUND PERMITTED (\u00a7\n22.1-100)\n\nA. All sums of money derived from the Commonwealth which are unexpended in any\nyear in any school division shall revert to the fund of the Commonwealth from\nwhich derived unless the Board of Education directs otherwise. Except as\notherwise provided in subsection B, all sums derived from local funds unexpended\nin any year shall remain a part of the funds of the governing body appropriating\nthe funds for use the next year, but no local funds shall be subject to\nredivision outside of the locality in which they were raised.\n\nB. Any school board may, with the concurrence of the local governing body,\nestablish a capital reserve fund as a savings account into which it exclusively\ndeposits the unexpended local operating funds described in subsection A for\nfuture school division capital expenditures at no additional cost to local\ntaxpayers, subject to the following conditions:\n\n 1. Any deposit into such fund shall be designated at the time of deposit for a\n specific capital project named by the school board;\n\n 2. No deposit into such fund shall be withdrawn or used for any purpose other\n than the capital project designated pursuant to subdivision 1; and\n\n 3. The school board may make withdrawals from such fund at any time, and no\n such withdrawal shall be encumbered by any deadlines or other timelines or\n time-based restrictions.\n\nHISTORY: Code 1950, \u00a7 22-138; 1956, Ex. Sess., c. 67; 1980, c. 559; 2024, c.\n294.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}