Section 387.740 - Limitation on expenditure of money in excess of amount appropriated; exceptions1. No governing body or member of a governing body of a charter school or university school for profoundly gifted pupils may, during any fiscal year, expend or contract to expend any money or incur any liability, or enter into any contract which by its terms involves the expenditure of money, in excess of the amounts appropriated for that function, other than medium-term obligation repayments and any other long-term contract expressly authorized by law.2. Without limiting the generality of the exceptions contained in subsection 1, the provisions of this section specifically do not apply to: (a) Contracts between a charter school or university school for profoundly gifted pupils and any person for the construction or completion of capital projects, money for which has been or will be provided by the proceeds of medium-term obligations or an installment-purchase agreement and that are entered into by the charter school or university school for profoundly gifted pupils after: (1) Any approvals by any other governmental entity required to be obtained before the medium-term obligations or installment-purchase agreement can be issued have been obtained; and(2) The ordinance or resolution that specifies each of the terms of the medium-term obligations or installment-purchase agreement has been adopted.(b) Contracts which are entered into by a charter school or university school for profoundly gifted pupils and delivered to any person solely for the purpose of acquiring supplies, services and equipment necessarily ordered in the current fiscal year for use in an ensuing fiscal year and which, under the method of accounting adopted by the charter school or university school for profoundly gifted pupils, will be charged against an appropriation of a subsequent fiscal year. Purchase orders evidencing such contracts are public records available for inspection by any person on demand.(c) The receipt and proper expenditure of money received pursuant to a grant awarded by an agency of the Federal Government.(d) The incurrence of obligations beyond the current fiscal year under a lease or contract for installment purchase which contains a provision that the obligation incurred thereby is extinguished by the failure of the governing body to appropriate money for the ensuing fiscal year for the payment of the amounts then due.(e) The receipt by a charter school or university school for profoundly gifted pupils of increased revenue that: (1) Was not anticipated in the preparation of the final budget of the charter school or university school for profoundly gifted pupils; and(2) Is required by statute to be remitted to another governmental entity.3. The fund balance of a governmental fund may not be used unless appropriated in a manner provided by law.Nev. Admin. Code § 387.740
Added to NAC by Bd. of Education by R026-09, eff. 10-27-2009; A by Dep't of Education by R035-14, Eff. 12-22-2014; A by Bd. of Education by R075-14, eff. 12/22/2014