Those funds which are collected by programs for student achievement and by parent-teacher associations and organizations that are sanctioned by the school district board of education shall be exempt from the provisions as outlined in Section 5-129 of this title. Each school district board of education shall adopt policies providing guidelines for the sanctioning of organizations and associations exempted or applying to be exempted pursuant to the provisions of this section. The guidelines may include but not be limited to examinations of financial and performance audits performed on each such organization and association.
Added by Laws 1984, c. 296, § 26, operative July 1, 1984. Amended by Laws 1993, c. 45, § 2, emerg. eff. April 9, 1993; Laws 1994, c. 70, § 1, eff. July 1, 1994; Laws 1996, c. 99, § 1, eff. July 1, 1996.