— Transfer of funds to Statewide Charter School Board Revolving Fund. A. Until July 1, 2024, there is hereby created in the State Treasury a revolving fund for the Statewide Virtual Charter School Board to be designated the “Statewide Virtual Charter School Board Revolving Fund”. The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies received by the Statewide Virtual Charter School Board from State Aid pursuant to Section 3-145.3 of this title or any other state appropriation. All monies accruing to the credit of the fund are hereby appropriated and may be budgeted and expended by the Statewide Virtual Charter School Board for the purpose of supporting the mission of the Statewide Virtual Charter School Board. Expenditures from the fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of Management and Enterprise Services for approval and payment. B. On July 1, 2024, the Statewide Virtual Charter School Board shall transfer any unencumbered funds in the Statewide Virtual Charter School Board Revolving Fund to the Statewide Charter School Board Revolving Fund created pursuant to Section 3 of this act. Any funds which are unexpended on January 1, 2025, shall be transferred to the Statewide Charter School Board Revolving Fund.
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