Section 4804 - Powers and duties of managers1. The board of managers of such school shall be responsible for the operation and maintenance of the school; employ a superintendent and such teachers and assistants as may be required for the operation and maintenance of the school; fix compensation of such superintendent, teachers and assistants within the amount made available therefor by the board of estimate and apportionment or other similar body or officer of such city; prescribe rules and regulations for the management of the school and for the purpose of carrying into effect the object thereof; provide for the detention, maintenance and instruction of all children who are admitted to the school. Such board shall on or before the first day of January each year furnish to the mayor estimates in writing of the amount of expenditures for the next fiscal year. All expenses and appropriations for such school shall be subject to the provisions of sections seventy-three, seventy-four, seventy-five, seventy-six and seventy-seven of second class cities law, and of any and all other provisions of said law applicable thereto.2. The board of managers shall have full power to discharge or parole at any time any child admitted to such school. A child under sixteen years of age committed to the school by a court and paroled for good conduct may be arrested and detained in the school for violation of the terms of his parole.