53A-4-205.   Establishment of public education foundations -- Powers and duties -- Tax exempt status.
     (1) State and local school boards may establish foundations to:
     (a) assist in the development and implementation of the programs authorized under this part to promote educational excellence; and
     (b) assist in the accomplishment of other education-related objectives.
     (2) A foundation established under Subsection (1):
     (a) may solicit and receive contributions from private enterprises for the purpose of this part;
     (b) shall comply with Title 51, Chapter 7, State Money Management Act, and rules made under the act;
     (c) has no power or authority to incur contractual obligations or liabilities that constitute a claim against public funds except as provided in this section;
     (d) may not exercise executive, administrative, or rulemaking authority over the programs referred to in this part, except to the extent specifically authorized by the responsible school board;
     (e) is exempt from all taxes levied by the state or any of its political subdivisions with respect to activities conducted under this part;
     (f) may participate in the Risk Management Fund under Section 63A-4-204;
     (g) shall provide a school with information detailing transactions and balances of funds managed for that school;
     (h) shall, for foundation accounts from which monies are distributed to schools, provide all the schools within a school district information that:
     (i) details account transactions; and
     (ii) shows available balances in the accounts; and
     (i) may not:
     (i) engage in lobbying activities;
     (ii) attempt to influence legislation; or
     (iii) participate in any campaign activity for or against:
     (A) a political candidate; or
     (B) an initiative, referendum, proposed constitutional amendment, bond, or any other ballot proposition submitted to the voters.
     (3) A local school board that establishes a foundation under Subsection (1) shall:
     (a) require the foundation to:
     (i) use the school district's accounting system; or
     (ii) follow written accounting policies established by the board;
     (b) review and approve the foundation's accounting, purchasing, and check issuance policies to ensure that there is an adequate separation of responsibilities; and
     (c) approve procedures to verify that issued foundation payments have been properly approved.

Amended by Chapter 310, 2008 General Session
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Last revised: Thursday, May 28, 2009