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GIFTS FROM THE PUBLIC |
1800 | |
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It shall be the policy of the district to accept a gift, provided it is made within the statutory authority granted to school districts and has received the approval of the Board of Education. In granting or withholding of its consent, the Board will review the following factors: 1. The terms of the gift must identify: a. the subject of the gift b. the purpose of the gift c. the beneficiary or beneficiaries if any d.
all conditions or restrictions that may apply 4.
If the gift is in trust, the obligation of the investment and
reinvestment of the principal shall be clearly specified and the
application of the income or investment proceeds shall be clearly set
forth.
1.
it is in support of and a benefit to all or to a particular public
school in the district,
or Any gift rejected by the Board shall be returned to the donor or his/her estate within 60 days together with a statement indicating the reasons for the rejection of such gift. Cross-ref: 5800, Student Awards and Scholarships Ref: Education Law § 1709(12); 1718(2) |
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| Date of Approval: November 3, 2003 |