Virginia § 22.1-100 - Unexpended school and educational funds; capital reserve fund permitted
Full text of Virginia Code of Virginia § 22.1-100 — Unexpended school and educational funds; capital reserve fund permitted, with citation guidance and answers to common questions.
§ 22.1-100. Unexpended school and educational funds; capital reserve fund permitted
A. All sums of money derived from the Commonwealth which are unexpended in any year in any school division shall revert to the fund of the Commonwealth from which derived unless the Board of Education directs otherwise. Except as otherwise provided in subsection B, all sums derived from local funds unexpended in any year shall remain a part of the funds of the governing body appropriating the funds for use the next year, but no local funds shall be subject to redivision outside of the locality in which they were raised.
B. Any school board may, with the concurrence of the local governing body, establish a capital reserve fund as a savings account into which it exclusively deposits the unexpended local operating funds described in subsection A for future school division capital expenditures at no additional cost to local taxpayers, subject to the following conditions:
1. Any deposit into such fund shall be designated at the time of deposit for a specific capital project named by the school board;
2. No deposit into such fund shall be withdrawn or used for any purpose other than the capital project designated pursuant to subdivision 1; and
3. The school board may make withdrawals from such fund at any time, and no such withdrawal shall be encumbered by any deadlines or other timelines or time-based restrictions.
Code 1950, § 22-138; 1956, Ex. Sess., c. 67; 1980, c. 559; 2024, c. 294.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 22.1-100
What does Code of Virginia § 22.1-100 cover?
Section 22.1-100 ("Unexpended school and educational funds; capital reserve fund permitted") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 22.1-100?
A common citation format is "Code of Virginia § 22.1-100" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 22.1-100 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.