Section 10-050
District Donations/Gifts
Mulvane USD 263 will maintain a separate Donations/Gifts Fund under the
guidelines of K.S.A. 72-8210 (Legal successor of rights and powers; bequests and
donations). The guidelines for
implementation shall be as follows:
1.
The requirements and stipulations of the donor shall be followed as long
as the board feels the request is reasonable, in good taste and is feasible to
administer.
2.
Any interest monies accrued from the investments of multiple donations
shall be prorated back to the Donations/Gifts Fund as well as to a specific
donation line item within the said fund.
3.
The Donations/Gifts Fund monies shall not be co-mingled with other funds
of the district.
4.
All financial accounting activity within the Donations/Gifts Fund shall
be made known to the board at each regularly scheduled meeting.
5.
All disbursements of the Donations/Gifts Fund shall require board action
at a regularly scheduled meeting.
6.
The superintendent shall act as the “District Administrator” of the
fund.
7.
It is the intent of the district to administer the Donations/Gifts Fund
with all the benefits, exclusions and penalties as cited by current tax laws.
Approved
by BOE