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Business
& Non-Instructional Operations |
3220-BP |
LOTTERY FUNDS
It shall be
the policy of the Board of Education to establish and maintain a special
program account for the proceeds of the State Lottery. The purpose of the account
shall be to provide funding for such programs as the board shall establish for
the education of pupils excluding the acquisition of real property,
construction of facilities or financing research. Procedures and reporting
processes shall be developed in compliance with Government Code 8880.5.
The
superintendent will recommend annually for board consideration a list of
priorities identifying specific programs and budgeting implications for the
expenditure of lottery funds.
The board shall
establish and maintain a lottery account contingencies reserve of twenty-five
percent (25%) of the first four (4) funding increments to provide for any
unanticipated reduction in funding due to the uncertainty and fluctuation of
the lottery proceeds. The lottery account contingencies reserve is subject to
an annual review, as applicable, to lottery programs which have been initiated.
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Legal
Reference: |
Government
Code |
Section
8880.5 |
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Policy adopted: |
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