Notwithstanding section 53 of chapter 44 or any other general or special law to the contrary, a school district may establish a School Transportation Reimbursement Fund. Reimbursements made by the commonwealth pursuant to this chapter may be deposited into the fund and may carry forward for 1 fiscal year. Funds received by a school district shall be deposited with the treasurer of the city or town and held as a separate account and expended by the school committee for the purposes of school transportation without further appropriation.
Mass. Gen. Laws ch. 71, § 99