The Board of Trustees of Durant Public School District has the power, authority and duty to make orders directed to the superintendent of schools for the issuance of pay certificates for lawful purposes on any available funds of the district and to have full control of the receipt, distribution, allotment and disbursement of all funds provided for the support and operation of the schools of such school district whether such funds be derived from state appropriations, local ad valorem tax collections, or otherwise.  The local Board of Trustees shall be authorized and empowered to promulgate rules and regulations that specify the types of claims and set limits of the dollar amount for payment of claims by the superintendent of schools to be ratified by the board at the next regularly scheduled meeting after payment has been made.  § 37‑7‑301 (o) (2005)

MONTHLY FINANCIAL STATEMENTS

The superintendent of Durant Public School District shall furnish to the Board of Trustees a financial statement of receipts and disbursements, by funds, on or before the last working day of the following month covering the prior month. The Board of Trustees shall be authorized to investigate and audit all financial records of the superintendent of schools at any and all times. § 37-9-18 (1)

PURPOSES FOR WHICH SCHOOL FUNDS MAY BE USED

The minimum education program allotments of this school district and the funds derived from the supplemental school district tax levies authorized by law shall be used exclusively for the support, maintenance and operation of the schools in the manner provided by law for the fiscal years for which such funds were appropriated, collected or otherwise made available, and no part of said funds or allotments shall be used in paying any expenses incurred during any preceding fiscal year.  However, this shall not be construed to prohibit the payment of expenses incurred during the fiscal year after the close of such fiscal year from amounts remaining on hand at the end of such fiscal year, provided that such expenses were properly payable from such amounts.  Moreover, this shall not be construed to prohibit the payment of the salaries of superintendents, administrative superintendents, principals and teachers and other school employees whose salaries are payable in twelve (12) monthly installments after the close of the fiscal year from amounts on hand for such purpose at the end of the fiscal year. § 37‑61‑3 (1991)

ACTIVITY FUNDS

This Board of Trustees has the power, authority, and duty to expend local school activity funds, or other available school district funds, other than minimum education program funds, for the purposes prescribed under this paragraph.  "Activity funds" shall mean all funds received by school officials paid or collected to participate in any school activity, such activity being part of the school program and partially financed with public funds or supplemented by public funds.  The term "activity funds" shall not include any funds raised and/or expended by any organization unless commingled in a bank account with existing activity funds, regardless of whether the funds were raised by school employees or received by school employees during school hours or using school facilities, and regardless of whether a school employee exercises influence over the expenditure or disposition of such funds. § 37‑7‑301 (s) 

PERSONAL LIABILITY

It shall be the duty of the Superintendent and the Board of Trustees to limit the expenditure of school funds during the fiscal year to the resources available. It shall be unlawful to budget expenditures from a fund in excess of the resources available within that fund. 

Furthermore, it shall be unlawful for any contract to be entered into or any obligation incurred or expenditure made in excess of the resources available for such fiscal year. 

Any member of the Board of Trustees, Superintendent, or other school official, who knowingly enters into any contract, incurs any obligation, or makes any expenditure in excess of the amount available for the fiscal year shall be personally liable for the amount of such excess.

However, no Board of Trustees member, Superintendent or other school official shall be personally liable (a) in the event of any reduction in adequate education program payments by action of the Governor, or (b) for claims, damages, awards or judgments, on account of any wrongful or tort  action or omission or breach of implied term or condition of any warranty or contract; provided, however, that the foregoing immunity provisions shall not be a defense in cases of fraud, criminal action or an intentional breach of fiduciary obligations imposed by statute. § 37-61-19