N.Y. Suffolk County Tax Act § 9: Creation of contingent fund in school districts

§ 9. Creation of contingent fund in school districts. The board of

education or the trustees of any school district may in the year

nineteen hundred and twenty or in any subsequent year, in addition to

the amount of the budget and other lawful taxes to be raised on the tax

roll of said year, include in the total so to be raised an amount not

exceeding thirty per centum of such total, which amount shall be known

as the contingent fund and shall be applied to the purposes of the

budget of the succeeding year in anticipation of the tax to be levied

thereon, and in each succeeding year the budget proposed to any school

district may provide for the reimbursement of said contingent fund, in

such manner that funds to an amount deemed sufficient by the district

may be raised and kept available for the expenses of the district

between the opening of the school year and the receipt of moneys raised

by taxation for such year.