For the benefit of each school division composed of a town, the governing body of the county in which such town is located shall require the county treasurer to pay over to the town treasurer, if and when properly bonded, the following funds to be placed in the general fund of the town, subject to appropriation by the governing body of the town as it may deem necessary:
From the amount derived from a general or unit levy for all county purposes, a sum equal to such town's pro rata share of the general or unit levy receipts derived from the taxable property within the town, including real estate, tangible personal property, merchants' capital and machinery and tools. The pro rata share of the town shall be determined by allocating to the town the same percentage of general or unit levy receipts as is appropriated by the county governing body for the support of public schools.
Code 1950, § 22-141.2; 1972, c. 746; 1980, c. 559.
Structure Code of Virginia
Chapter 8 - Public School Funds
§ 22.1-88. Of what school funds to consist
§ 22.1-89. Management of funds
§ 22.1-89.1. Management of cafeteria funds
§ 22.1-89.2. Financial records retention and disposition schedule
§ 22.1-89.4. Certain policy required; partnerships and sponsorships
§ 22.1-90. Annual report of expenditures
§ 22.1-90.1. Inclusion of instructional spending in the School Performance Report Card
§ 22.1-91. Limitation on expenditures; penalty
§ 22.1-92. Estimate of moneys needed for public schools; notice of costs to be distributed
§ 22.1-93. Approval of annual budget for school purposes
§ 22.1-94. Appropriations by county, city or town governing body for public schools
§ 22.1-95. Duty to levy school tax
§ 22.1-98. Reduction of state aid when length of school term below 180 days or 990 hours
§ 22.1-98.1. Extended School Year Incentive Program
§ 22.1-98.2. Certain agreements; adjustment of state share for basic aid
§ 22.1-99. Approval and certification of apportionment of school funds
§ 22.1-100. Unexpended school and educational funds
§ 22.1-100.1. Lottery proceeds nonrecurring costs escrow accounts
§ 22.1-102. Special tax for capital expenditures or payment of indebtedness or rent
§ 22.1-104. Same; order for referendum; notice
§ 22.1-105. Same; conduct of referendum; certification of results
§ 22.1-106. Same; levy in accordance with results of referendum
§ 22.1-107. Glebe lands and church property; revenue and income therefrom
§ 22.1-108. Money derived from forest reserve
§ 22.1-110. Temporary loans to school boards
§ 22.1-112. Deposit and disbursement of donations
§ 22.1-113. Town school division's share of county school funds
§ 22.1-114. Town school division's share of general county funds
§ 22.1-115. System of accounting; statements of funds available; classification of expenditures
§ 22.1-116. How and by whom funds for school division kept and disbursed
§ 22.1-116.1. Receipt of payment by credit cards; service charge
§ 22.1-117. Fiscal agents of certain school divisions
§ 22.1-118. Management of funds for joint school; county or city treasurer as fiscal agent
§ 22.1-119. No commission for treasurer
§ 22.1-120. Settlement by treasurer
§ 22.1-121. Proceedings against officers, etc., to compel settlement of accounts
§ 22.1-122. Approval and payment of claims; warrants; prohibited acts
§ 22.1-122.1. Accounts to purchase certain materials and supplies
§ 22.1-123. Petty cash funds; payment of claims from petty cash
§ 22.1-124. Officers may not purchase warrants for less than face value