- (a) Gate receipts, private donations made directly to the school district, revenues from fundraisers, and any other nonstate revenue pertaining to the athletic programs shall be deposited into the activity fund (Fund 7).
(b)
- (1) School districts shall establish a separate fund for athletic event gate receipts.
- (2) Revenues and expenditures from the athletic event gate receipt funds shall be tracked and reported.
- (3) The local school board of directors must approve the use of net athletic event gate receipts to purchase athletic awards for students participating in school-sponsored activities.
- (4) The school district shall not expend from net athletic event gate receipts, for the purchase of athletic awards, more than an average of one hundred dollars ($100) per student per activity.
- (5) School districts may access private funds to purchase athletic awards.