Sec. 3. (a) The dropout prevention program fund is established to provide:

(1) money for the department; and

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Terms Used In Indiana Code 20-20-37-3

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • fund: refers to the dropout prevention program fund established by section 3 of this chapter. See Indiana Code 20-20-37-1
  • program: refers to a dropout prevention program established by a school corporation. See Indiana Code 20-20-37-2
(2) grants to school corporations or a local nonprofit fiscal agent acting as intermediary on behalf of multiple school corporations;

to establish and operate programs to identify students who are at risk of dropping out of school and to provide appropriate interventions for those students.

     (b) The department shall administer the fund.

     (c) The expenses of administering the fund shall be paid from money in the fund.

     (d) The fund consists of:

(1) gifts, donations, and bequests;

(2) appropriations from the general assembly;

(3) grants, including federal grants and grants from private entities;

(4) income derived from investing the assets of the fund;

(5) funds from any other source; and

(6) a combination of the resources described in subdivisions (1), (2), (3), (4), and (5).

     (e) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested.

     (f) Money in the fund from sources other than state appropriations at the end of a state fiscal year does not revert to the state general fund.

As added by P.L.65-2009, SEC.1.

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