A. Payments to localities for public education from the general fund, as provided herein, shall be payable in twenty-four approximately equal bimonthly installments at the middle and end of each month. This provision shall not apply to the June fringe benefit payment made to localities in a special July payment.

B. Notwithstanding the provisions of § 22.1-100, Code of Virginia, any unexpended balances of state funds held by school divisions on June 30, 2002, that are not required to be spent for the state share of the Standards of Quality programs as specified in Item 143 A 7 may be carried on the books of the locality to be appropriated to the school division in the following fiscal year for any school purpose. Any such funds carried to the next fiscal year shall continue to be counted as state funds.

C. In the event that the appropriations in Items 141 through 149 are not sufficient to meet the entitlements payable to school divisions pursuant to the provisions of each item, the Department of Education is authorized to transfer any available funds between these items to address such insufficiencies. If the total appropriations after such transfers remain insufficient to meet the entitlements of any program, the Department of Education is authorized to prorate such shortfall proportionately across all of the school divisions participating in the program where such shortfall occurred.