ยง 1718. Limitation  upon expenditures.  1. No board of education shall
  incur a district liability in excess of the  amount  appropriated  by  a
  district  meeting  unless  such  board is specially authorized by law to
  incur such liability.
2. Notwithstanding the provisions of subdivision one of this  section,
  grants  in  aid  received  from  the  state  and federal governments for
  specific  purposes,  other  state  grants  in  aid  identified  by   the
  commissioner  for  general  use  as specified by the board of education,
  other gifts which are required to be spent  for  particular  objects  or
  purposes  and insurance proceeds received for the loss, theft, damage or
  destruction of real or personal property, when proposed to  be  used  or
  applied  to  repair  or  replace  such  property, may be appropriated by
  resolution of the board of education at any time  for  such  objects  or
  purposes.
Structure New York Laws
Title 2 - School District Organization
Article 35 - Union Free School Districts
1701 - Boards of Education Corporate Bodies.
1702 - Board of Education; Election; Terms of Office.
1703 - Change in Number of Members of Board of Education.
1704 - Length of School Year, and Expenditure of Funds.
1705 - Annexing Territory to a Union Free School District.
1706 - Power of Removal of Member of Board of Education.
1707 - Annual Organizational Meetings of Boards of Education.
1708 - Regular Meetings; Visitation of Schools.
1709 - Powers and Duties of Boards of Education.
1709-A - Powers of Boards of Education to Ban Fraternities, Sororities and Other Secret Societies.
1710 - Boards of Education Have Powers of Trustees of Common Schools and Trustees of Academies.
1711 - Appointment of Superintendent of Schools.
1712 - Kindergartens; Nursery and Night Schools.
1713 - Academy May Be Adopted as Academic Department.
1714 - Contracts With Academies.
1715 - Retransfer of Academy to Its Former Trustees.
1716 - Estimated Expenses for Ensuing Year.
1717 - Corporate Authorities Must Raise Tax Certified by Board of Education.
1718 - Limitation Upon Expenditures.
1719 - Deposit, Custody and Payment of Moneys in Villages.
1720 - Moneys and Accounts in Union Free School Districts.
1722 - Application of Article.
1723-A - Temporary Investment of School Moneys.
1724 - Form and Audit of Claims.
1725 - Lease of Personal Property.
1725-A - Powers of Boards of Education; Instructional Equipment.