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Use of Roll-Over Funds

Section 5-9

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  • Where the Board approves a budget for the current fiscal year that identifies roll-over unspent funds from the previous year’s budget and authorizes the use of such funds in the current fiscal year budget, the Chief Executive Officer or his/her designee shall designate the roll-over funds for particular uses or projects and shall report the designations annually to the Board for approval. Only the following specified funds which remain from the prior year’s original budget are eligible for roll-over designation hereunder:
    • non-personnel general funds in school and central/area offices, and
    • building Operation and Maintenance fund from the following accounts:
      • Commodities – Supplies;
      • Services – Contractual; and
      • Services – Repair Contracts.
  • Once designated, transfer of the roll-over funds to the designated account(s) is subject to Board approval and the use of the funds is subject to the following limitations:
    • roll-over funds will be expended within the current fiscal year;
    • no liability beyond the current fiscal year may be incurred in using the roll-over funds; and
    • roll-over funds may not be used to hire employees, except part-time/seasonal employees as defined in Board Rule 4-3.f. whose positions will close at or before the end of the fiscal year

This Rule does not apply to a school special income fund or funds that are otherwise subject to federal or state requirements or grant agreement obligations regarding carry over.

Chicago Board of Education

(773) 553-1600

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1 North Dearborn, Suite 950
Chicago, Illinois 60602