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(Iowa Code, Chap. 298A.13) |
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Funds for Local School Districts
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Expendable Trust Funds |
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Expendable Trust Funds are where funds are allowed to be expended from both principal and interest. An example would be a small scholarship given to the school district for a particular purpose where the total gift would be given, including any interest that may have been received during the time the school district had it in their account.
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Non-Expendable Trust Funds |
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Non-expendable Trust Funds are those types of scholarship funds that allow only the interest to be spent. Therefore, the principal becomes non- expendable for the school district. |
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