N.Y. Educ. Law § 2522

§ 2522. General budgetary controls; lapse of appropriations. 1. A\nseparate account shall be kept of each appropriation. Each such account\nshall show the amount of the appropriation, the encumbrances against\nsuch account, the amounts expended therefrom and the unencumbered\nbalance.\n 2. No expenditure, or contract which in any manner involves the\nexpenditure of money or the incurring of any pecuniary liability, shall\nbe made or entered into by the school district, or officer or employee\nthereof, unless an amount has been appropriated and is available\ntherefor or has been authorized to be borrowed pursuant to the local\nfinance law. This subdivision shall not prevent the making of a\ncontract or lease for a term exceeding one year when authorized by law;\nnor shall this subdivision require a school district which has entered\ninto a contract or lease for a term exceeding one year to pay during the\ncurrent fiscal year any amounts larger than those which become due and\nowing during that year under the terms of such lease or contract.\n 3. Appropriations, to the extent that they shall not have been\nexpended or encumbered, shall lapse at the close of the fiscal year for\nwhich made, except that appropriations for capital improvements shall\ncontinue in force until the purposes for which they were made shall have\nbeen accomplished or abandoned.\n