West Virginia Constitution

Section I: Education

The Legislature shall provide, by general law, for a thorough and efficient system of free schools.

Section II: Supervision of Free Schools

The general supervision of the free schools of the State shall be vested in the West Virginia board of education which shall perform such duties as may be prescribed by law.

Section IV: Support of Free Schools

The Legislature shall provide for the support of free schools by appropriating thereto the interest of the invested "School Fund," the net proceeds of all forfeitures and fines accruing to this state under the laws thereof and by general taxation of persons and property or otherwise. It shall also provide for raising in each county or district, by the authority of the people thereof, such a proportion of the amount required for the support of free schools therein as shall be prescribed by general laws.

West Virginia Department of Education Expectations - Reserve for Contingencies

To provide for unforeseen situations that may occur during the year, it is strongly recommended that all agencies budget at least 3% and preferably 5% of their total projected revenues as a reserve for contingencies under Program Function Code 76321, Object Code 842, Reserved for Contingencies. The Government Finance Officers' Association (GFOA) recommends a balance of at least 2 months of operating revenues or expenditures, which equates to approximately 16.7% of total projected revenues.