The Compilation and Administration of Education Expenditures Act Article 13

To manage their education revenues and spendings or expenditures for education, the municipality and county (city) governments shall establish a Local Education Development Budgets, to be administered as a dedicated account. Monies for education budgets self-funded by local governments, general education subsidies, and special education subsidies shall be included in the fund. At the end of each year, any surplus shall be remain in the fund for use in subsequent years. Regulations regarding the revenues and budgets, safekeeping, and utilization of such funds shall be formulated by the respective municipality and county (city) governments.