N.Y. Education Law § 2522: General budgetary controls; lapse of appropriations

§ 2522. General budgetary controls; lapse of appropriations. 1. A

separate account shall be kept of each appropriation. Each such account

shall show the amount of the appropriation, the encumbrances against

such account, the amounts expended therefrom and the unencumbered

balance.

2. No expenditure, or contract which in any manner involves the

expenditure of money or the incurring of any pecuniary liability, shall

be made or entered into by the school district, or officer or employee

thereof, unless an amount has been appropriated and is available

therefor or has been authorized to be borrowed pursuant to the local

finance law. This subdivision shall not prevent the making of a

contract or lease for a term exceeding one year when authorized by law;

nor shall this subdivision require a school district which has entered

into a contract or lease for a term exceeding one year to pay during the

current fiscal year any amounts larger than those which become due and

owing during that year under the terms of such lease or contract.

3. Appropriations, to the extent that they shall not have been

expended or encumbered, shall lapse at the close of the fiscal year for

which made, except that appropriations for capital improvements shall

continue in force until the purposes for which they were made shall have

been accomplished or abandoned.