West Virginia Code of State Rules › Agency 126 - Education › Title 126 - LEGISLATIVE RULE BOARD OF EDUCATION › Series 126-072 - Establishment and Operation of Regional Education Service Agencies (3233) › Section 126-72-4 - Finances

Current through Register Vol. XLI, No. 28, July 12, 2024
4.1. The executive
				director of the RESA shall prepare and submit an annual basic operating budget
				for the next fiscal year at a regional council meeting held no later than
				April. The budget must be approved by the WVBE. In preparing the budget, the
				executive director is to (1) allocate expenditures with actions planned to
				accomplish the Strategic Plan; (2) consult with the Executive Director, WVDE
				Office of School Finance for ensuring any potential or standing audit issues
				are considered; and (3) prior to submitting the annual budget to the WVBE for
				approval, obtain a majority vote by a quorum of members on the regional council
				regarding the budget's appropriateness for meeting needs of school systems in
				the region.
4.2. The RESA executive
				director, with advice and assistance of the regional council, may select as its
				fiscal agent one of the county boards of education comprising the RESA. The
				county board so selected may maintain a separate bank account or accounts for
				the receipt and disbursement of all RESA funds and perform the accounting
				functions specified in the policies adopted by the WVBE. A county board of
				education serving as a RESA fiscal agent may not initiate action, direct the
				RESAs programs or substitute its judgment for that of the executive director as
				advised by the regional council. The county board of education may reject an
				action of the executive director if sufficient funds are not available, or if
				it perceives a legal conflict. The executive director of the RESA shall make
				arrangements for an annual audit to be conducted in accordance with the
				requirements of the Single Audit Act (Office of Management and Budget Circular
				A-133) and the cost of the audit shall be incurred by the RESA. Prior to making
				those arrangements, the executive director must coordinate with the respective
				fiscal agent to ensure the audit addresses all applicable issues.
4.3. Each RESA shall employee a competent
				chief financial officer who meets the qualifications specified in W. Va.
				126CSR136, WVBE Policy 5202, Minimum Requirements for the Licensure of
				Professional/Paraprofessional Personnel and Advanced Salary Classifications.
				Current RESA employees performing financial functions who are deemed competent
				and are approved by the State Superintendent shall be allowed to continue in
				their positions. The chief financial officer will prepare monthly and annual
				financial reports and provide copies of those reports to the RESA executive
				director, RESA program directors, the chief school business official of the
				fiscal agent county board, the regional council, and submit a copy to the
				WVBE.
4.4. A RESA may receive and
				disburse funds from the state and federal governments, from member counties,
				from gifts and grants, and from profit-generating enterprises, the funds of
				which will contribute to RESA initiatives. Each RESA is encouraged to partner
				with member school systems, particularly those designated as low-performing,
				and other organizations as appropriate to attract and leverage resources
				available from federal programs to maximize its capacity for meeting the needs
				of member schools and school systems. The WVBE recognizes a RESA as an eligible
				LEA for the purposes of applying, on behalf of school systems, for grant funds
				consistent with performing regional services and functions in this rule and/or
				supportive of education initiatives of the WVBE.