Article 12Scholarship and Loan Funds

Section § 35310

Explanation

This law allows a school district's governing board to create a scholarship and loan fund. The fund will be managed by a committee that includes board members, the district superintendent, and other representatives the board chooses, like community members, faculty, and students. The board is responsible for setting up rules about how these representatives are chosen and how long they serve.

The governing board of any school district may establish and maintain a scholarship and loan fund, to be administered by a committee composed of the members of the governing board of the school district, the school district superintendent, and such other community, faculty, administrative, and student representatives as the governing board shall determine.
The governing board shall, by rules and regulations, determine the terms of office and the method of selection of such community, faculty, administrative, and student representatives.
scholarship fund loan fund school district governing board committee superintendent community representatives faculty representatives student representatives rules and regulations terms of office selection method
(Enacted by Stats. 1976, Ch. 1010.)

Section § 35311

Explanation

This law says that the superintendent of a school district is in charge of a specific committee and manages a certain fund in that role.

The superintendent of school district shall be the chairman of the committee and shall be the chief executive officer of the fund.
superintendent school district committee chairman chief executive officer fund management educational committee district leadership fund oversight school fund chief executive duties
(Enacted by Stats. 1976, Ch. 1010.)

Section § 35312

Explanation

This law requires that the committee meet at least once every fiscal year. If needed, the committee's chairman can also call additional meetings at other times.

The committee shall meet at least once each fiscal year and at such other times as it may be called into session by the chairman.
committee meetings fiscal year chairman additional meetings session committee schedule meeting frequency annual requirement chairman's authority organizational meetings committee protocol meeting management committee operations
(Enacted by Stats. 1976, Ch. 1010.)

Section § 35313

Explanation

This section explains that a committee can accept gifts or donations on behalf of a specific fund. Donors are allowed to place conditions on their contributions, but these must align with the fund's purpose. The committee reviews any conditions attached to donations and advises the governing board. The board has the final say and can reject donations if they believe the conditions don't fit the fund's goals. Importantly, state agency approval isn't needed to accept these gifts, unless specified otherwise.

The committee may accept on behalf of, and in the name of, the fund, such gifts, donations, bequests, and devises as are made for the purposes of the fund. Such gifts, donations, bequests, and devises may be made subject to such conditions or restrictions as the committee may prescribe.
Any donor to the fund may impose conditions to his gift, donation, bequest, or devise. The committee shall review all such conditions and make a recommendation to the governing board as to the compatibility of such conditions with the intent and purpose of the fund. The governing board shall have the authority to prohibit the committee from accepting any proposed donation to the fund if conditions with respect to the gift, donation, bequest, or devise are incompatible with the intent and purpose of the fund, as determined by the governing board.
Except as provided in this section, in no event shall the approval of any state agency be a prerequisite to acceptance by the committee of any gift, donation, bequest, or devise.
fund donations gifts acceptance donation conditions governing board review committee discretion state agency approval bequests acceptance purpose compatibility donor restrictions fund committee gifts and donations donation incompatibility donor conditions
(Enacted by Stats. 1976, Ch. 1010.)

Section § 35314

Explanation

This law requires that money in a certain fund must be placed in a bank or financial institution where the accounts are federally insured to protect the deposits. Additionally, the committee in charge must have clear procedures to track all the money in the fund, including any specific trusts, and record where the money came from and who it was given to.

Money in the fund shall be deposited in a bank or other institution whose accounts are federally insured, and any money so deposited shall be in an account or accounts fully covered by that insurance.
The committee shall establish and maintain procedures to identify clearly all money in the fund and its separate and distinct impressed trusts, if any, and from whom and to whom the money was received and disbursed.
federally insured accounts fund deposit money tracking bank accounts financial institutions financial oversight impressed trusts disbursement records committee procedures deposit security
(Amended by Stats. 1992, Ch. 115, Sec. 1. Effective January 1, 1993.)

Section § 35315

Explanation

This law states that there is a fund available to provide interest-free loans, scholarships, or grants for educational purposes. The people who can qualify for these funds include genuine organizations within schools, people currently enrolled in schools, and graduates of schools, all under the jurisdiction of a particular school district's governing board.

All money in the fund shall be available for making interest-free loans for educational advancement, for scholarship, or for grants-in-aid to eligible persons. An eligible person for such loans shall be any of the following:
(a)CA Education Code § 35315(a) A bona fide organization of a school under the jurisdiction of the governing board of the school district.
(b)CA Education Code § 35315(b) An enrollee at a school under the jurisdiction of the governing board of the school district.
(c)CA Education Code § 35315(c) A graduate of a school under the jurisdiction of the governing board of the school district.
interest-free loans educational advancement scholarships grants-in-aid eligible persons bona fide organization school enrollee school graduate school district governing board jurisdiction fund availability education funding educational grants financial aid for students school-related funding
(Enacted by Stats. 1976, Ch. 1010.)

Section § 35316

Explanation

This law says that if someone wants to apply for a loan from the school district's fund, they need to follow the rules set by the district's governing board. However, these rules can't prevent people from applying based on certain personal characteristics, like race or gender, listed in another part of the law.

An applicant for a loan from the fund shall make application therefor in accordance with reasonable rules and regulations established by the governing board of the school district, provided that the rules and regulations shall not include any conditions limiting eligibility on account of the characteristics listed in Section 220.
loan application school district fund governing board eligibility conditions Section 220 characteristics non-discrimination reasonable rules fund procedures application rules loan from the fund school district regulations applicant criteria
(Amended by Stats. 2007, Ch. 569, Sec. 20. Effective January 1, 2008.)

Section § 35317

Explanation

This law states that all costs related to managing a specific fund, such as operational expenses, audits, fund promotions, and housing for the committee, should be paid for by the school district's funds. These expenses must be included in the school district's annual budget.

All expenses in the administration of the fund including, but not limited to, operating costs, audits, promotion of the fund, and physical housing for the committee, shall be a proper charge against the funds of the school district and the annual budget of the school districts shall include funds for such expenses.
administration expenses operating costs fund audits fund promotion committee housing school district budget annual budget allocation fund management district expenses education fund budget planning public school funding financial management district financial responsibilities education administration costs
(Enacted by Stats. 1976, Ch. 1010.)

Section § 35318

Explanation

The school district's governing board must have the fund audited every year, following the procedures outlined in another specific section.

The governing board of the school district shall arrange for an annual audit of the fund in the same manner as prescribed in Section 41020.
school district audit governing board annual audit audit procedures Section 41020 fund audit financial review audit requirements school finances district fund management
(Enacted by Stats. 1976, Ch. 1010.)

Section § 35319

Explanation
The person in charge of the fund must report at least once a year to the school district's governing board about what's happening with the fund and its current status.
The chief executive officer of the fund shall make periodic reports, but not less frequently than annually, to the governing board of the school district with respect to the status and activity of the fund.
chief executive officer fund management periodic reports annual report governing board school district fund status fund activity reporting frequency educational fund oversight
(Enacted by Stats. 1976, Ch. 1010.)