Appropriation certificate

Definition

The treasurer's written statement that the money is set aside, without which there is no contract.

Why It Matters

District contract work is the revenue and this is what makes it real. In Ohio a contract with a school district needs a certificate from the fiscal officer that the money is in the treasury and not already committed. The statute is blunt about the consequence: a contract made without one is void, and no warrant is issued for anything owed on it. Two costs follow for a buyer. A multi-year agreement is certified only for the amount due in the fiscal year it was made, so three years in a data room is one funded year and two intentions, and capitalizing all three overpays. And an uncertified contract is unpayable, which turns a receivable into nothing at the exact moment a new owner asks the district to confirm it. Ask for the certificate and not the contract.