Sec. 7. (a) The treasurer has charge of the custody and disbursement of any funds collected by a collecting authority and expended to pay expenses: (1) approved by the principal or teacher in charge of the school; (2) incurred in conducting any athletic, social, or other school function (other than functions conducted solely by any organization of parents and teachers); (3) that cost more than twenty-five dollars ($25) during the school year; and (4) that are not paid from public funds. (b) The principal or teacher in charge of the school shall designate a collecting authority to be in charge of the collection of any funds described in this section. Upon collection of any funds, the collecting authority shall deliver the funds, together with an accounting of the funds, to the custody of the school treasurer. The principal may designate different collecting authorities for each separate account of funds described in this section. [Pre-2006 Recodification Citation: 20-26-6-4(a).]
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