**JJFA - ATHLETIC REVOLVING ACCOUNT** **Last Updated Date:** 05/27/2014 **Adoption Date:** 01/10/2006 The Athletic Revolving Account will be used to retain funds collected during the year from the athletic user fee, gate receipts and miscellaneous revenues of the athletic program. Based upon the recommendations of the athletic director, the high school principal will prepare an annual budget for the operation of the athletics program.  This budget will include all anticipated expenses for the next fiscal year.  The budget will identify the amounts to be drawn from the Town’s annual appropriation to the School Committee and from the Athletic Revolving Account, including anticipated revenues for the next fiscal year. Whenever possible, the proposed budget will maintain a balance of $10,000 in the Athletic Revolving Account. Subject to approval of the superintendent, the principal may draw additional funds from the Athletic Revolving Account to meet unanticipated needs that arise during the school year, such as costs beyond those budgeted for participation in tournaments, emergency repairs of fields and equipment, etc.  Such expenditures will not exceed $1,000 per purchase or $5,000 per year, without the approval of the School Committee.