Spending Unspent Funds
by pwceducationreform
It seems the idea of taking a few weeks off this summer just isn’t going to happen. As power, internet, and phone service appears to have been restored in most areas of PWC, an issue has popped up that deserves more than the scant attention it’s getting on facebook and local blogs. That is the issue of what the county and school division do with excess funds at the end of the year (with a Hat Tip to the Sheriff of Nottingham, PWC , the facebook page MymoneyPAC, and others for raising this issue).
Carry forward, or unencumbered funds in accounting language, are money that is budgeted but unused at the end of a fiscal year. Government accounting rules require that all budgeted funds be used in a given fiscal year or carried forward, so at the end of each fiscal year government entities have to figure out what to do with any left over money.
The first priority is to make sure money is carried forward for orders that have been executed but haven’t been delivered or
