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FINANCIAL MANAGEMENT <br />7710 <br />Page 1 of 1 <br />TAX CREDITS AND DEDUCTIONS FOR CONTRIBUTIONS <br />The Idaho State Legislature has enacted permissive legislation, which allows public <br />school districts to accept contributions of money and /or property. Such contributions can <br />assist the Bonneville Joint School District No. 93, its patrons, and students and under <br />applicable tax laws provide benefits for those providing such contributions. <br />Guidelines <br />1. Gifts may be made directly to individual schools, or to the District. <br />2. Gifts may be accepted by the District in accordance with District policy #4500 Public <br />Gifts Donations to the Schools. <br />3. Whenever a gift or donation is accepted by the District, it is incumbent upon the <br />District Administrator to provide assurance to the donor the request will be respected <br />and used as specifically requested by the donor. <br />a. All donations of money, property or equipment, will be shown on the <br />Acknowledgment of Gift form (7500F). <br />b. Such form must be completed regardless of the gift amount. <br />c. The Acknowledgment of Gift form will be completed in triplicate. <br />1) The original shall be provided the donor. <br />2) The second copy shall be retained by the school administrator. <br />3) The third copy shall be forwarded to the District Office for accounting and <br />filing. <br />4. All monies thus received shall be properly accounted and deposited into the <br />dedicated accounts. <br />5. The District and its employees cannot acknowledge value, except in areas of cash <br />donations therefore, the donor may establish an amount and indicate such on the <br />Acknowledgment of Gift form. <br />Adopted 10 -12 -2005 Reviewed <br />Cross Reference: Public Gifts /Donations to Schools #4500 <br />Bonneville Joint School District No. 93 <br />Revised <br />