{"data":{"id":"us-in/ic-20-40-14-1","jurisdiction":"us-in","citation":"IC 20-40-14-1","heading":"Separate accounting; gifts; endowments; federal grants and loans","body":"Sec. 1. (a) Except as provided in this section, money received by a school corporation for a specific purpose or purposes, by gift, endowment, or under a federal statute, may be accounted for by establishing separate funds apart from any other school corporation fund.\n(b) Subsection (a) does not apply if local tax funds are involved.\n(c) Money described in subsection (a) may not be accepted unless the:\n(1) terms of the gift, endowment, or payment; and\n(2) acceptance of the gift, endowment, or payment;\nprovide that the officers of the school corporation are not divested of any right or authority that the officers are granted by law.","path":["TITLE 20. EDUCATION","ARTICLE 40. GOVERNMENT FUNDS AND ACCOUNTS","Chapter 14. Special Purpose Funds Without Local Tax"],"source_url":"https://iga.in.gov/ic/2026/Title_20.html#20-40-14-1","current_through":"2026","vintage":"2026","retrieved_at":"2026-08-01T01:34:30Z","sha256":"112feee6ebfdc520b938a3b130c58996e6a669958c4aad65156b3c4141bc28c0","source_id":"us-in","stale":false,"prev":"us-in/ic-20-40-12-10","next":"us-in/ic-20-40-14-2"},"notice":"GroundRules: Original legal text. Not legal advice."}