(a) The chair of the board of education and director of schools constitute the executive committee of the board of education.
(b) The duties of the executive committee are to:
(1) Meet at the office of the director as often as necessary to perform the duties required;
(2) Advertise for bids and let contracts authorized by the board of education;
(3) Serve as the purchasing agent for the board; provided, that this shall not apply to counties having a purchasing board nor to counties having a purchasing agent created by a private or local act;
(4) Examine all accounts authorized by the board and see that the budget approved by the legislative body is not exceeded;
(5) Submit at each regular meeting of the board for approval a full report of all business transacted since the last regular meeting, which report shall be recorded as a part of the minutes of the board of education; and
(6) Transact any other business assigned to the committee by the board.
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