| Hampshire County Schools |
| Bylaws & Policies |
6662 - PERMANENT IMPROVEMENT FUND
The Board of Education directs the establishment of a Permanent Improvement Fund to be used solely for the support of building and permanent improvement projects. The fund may be accumulated from year to year but monies shall not be paid into the fund so as to increase the assets of the fund to a total amount in excess of twenty-five percent (25%) of the amount of the foundation school program for that County for the same school year.
The Treasurer shall be responsible for the administration of the Fund. The Fund shall consist of:
| A. | the proceeds of a levy allocated to that purpose; | |
| B. | unexpended balances of other funds transferred to the Fund, with the approval of the Board; | |
| C. | any other monies authorized by law to be used for the purposes of the fund. |
WV Code 18-9B-14, 11-8-6c, 18-9B-15