(1) All funds accruing to a school district or a Florida College System institution must be received, accounted for, and expended in accordance with law and rules of the State Board of Education.

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   (2) All funds accruing to a state university must be received, accounted for, and expended in accordance with law and rules of the Board of Governors.

s. 528, ch. 2002-387; s. 144, ch. 2007-217; s. 150, ch.