(a) A school district shall adopt a policy governing the expenditure of local funds from vending machines, rentals, gate receipts, or other local sources of revenue over which the district has direct control.
(b) A policy under this section must:
(1) require discretionary expenditures of local funds to be related to the district’s educational purpose and provide a commensurate benefit to the district or its students; and
(2) meet the standards of Section 52, Article III, Texas Constitution, regarding expenditure of public funds.