(a) There is established as a special fund the At-Risk Supplemental Allocation Preservation Fund (“Fund”), which shall be administered by the Chancellor of the District of Columbia Public Schools in accordance with subsection (c) of this section.
(b)(1) Subject to the limitations set forth in paragraph (2) of this subsection, at the end of each fiscal year, all unspent local funds in the District of Columbia Public Schools budget that are based on the at-risk add-on established by § 38-2905(c) shall be deposited in the Fund.
(2) Each year’s deposit pursuant to paragraph (1) of this subsection shall not exceed 5% of the lower of the District of Columbia Public Schools budget associated with the at-risk add-on for:
(A) The fiscal year in which the funds would be deposited; or
(B) The fiscal year after the year in which the funds would be deposited.
(c) The Fund shall be used solely to fund services and materials designed to assist at-risk students as defined in § 38-2901(2A).
(d)(1) The money deposited into the Fund, and interest earned, shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time.
(2) Subject to authorization in an approved budget and financial plan, any funds appropriated in the Fund shall be continually available without regard to fiscal year limitation.
For temporary (90 days) addition of this section, see § 4032 of the Fiscal Year 2016 Budget Support Emergency Act of 2015 (D.C. Act 21-127, July 27, 2015, 62 DCR 10201).