The board believes gifts, grants, and bequests to the school district may be accepted when they will further the interests of the district. The board will have sole authority to determine whether they further the interests of the district.
Gifts, grants, and bequests with a value over $1,000 will be submitted for approval by the board. Once approved by the board, a board member or the superintendent [or designee] may accept the gift on behalf of the district. Gifts, grants, and bequests accepted on behalf of the school district become the property of the district. Gifts, grants, and bequests are administered in accordance with terms, if any, agreed to by the board.
All gifts, grants, or bequests below $1,000 in value may be accepted by the superintendent [or designee] or building principals. The donor will be responsible for submitting the appraised value of donated property.
All gifts, grants, or bequests are administered in pursuance of the terms agreed upon at the time of the gift or bequest. Such gifts become the property of the school district and are under the control of the Board of Directors.
Acceptance of all gifts, grants, and bequests will be acknowledged in writing with copies going to the donors and to appropriate school files.
Adopted: 6/70
Reviewed: 10/12; 12/13; 5/15; 12/18; 1/22
Revised: 4/09
Legal Reference (Code of Iowa): §§ 279.42; 565.6
IASB Reference: 704.04