Revenue and Budgeting:
Local school foundation—
The District may with Board approval establish a local educational foundation to assist in developing and implementing programs to promote educational excellence and assist in accomplishing other educational objectives.
Powers of foundation—
A local educational foundation established by the District:
- May solicit and receive contributions from private enterprises earmarked for use in the foundation’s programs to promote educational excellence;
- May not incur contractual obligations or liabilities which in any way constitute a claim against the school district’s funds;
- May not exercise executive, administrative or rule making authority over the programs except to the extent specified by the Board; and
- Is exempt from all taxes levied by the state or any of its political subdivisions with respect to any activity undertaken to promote or undertaken in connection with promotion of educational excellence.