IC 20-40-2-4: Education fund; permissible uses

Sec. 4. Except as provided in IC 36-1-8-5.1 (school corporation rainy day fund), the education fund of the school corporation or, if applicable, a charter school, shall be used only to pay for expenses:

(1) allocated to student instruction and learning under IC 20-42.5; and

(2) related to the cost of providing curricular materials.

The fund may not be used to pay directly any expenses that are not allocated to student instruction and learning under IC 20-42.5, are not expenses related to the cost of providing curricular materials, or expenses permitted to be paid from the school corporation's or charter school's operations fund.