Utah Code Title 53E. Public Education System--State Administration § 53E-3-403. Establishment of public education foundations--Powers and duties--Tax exempt status

(a) assist in the development and implementation of programs to promote educational excellence;  and

(b) assist in the accomplishment of other education-related objectives.

(a) may solicit and receive contributions from private enterprises for the purpose of this section;

(b) shall comply with Title 51, Chapter 7, State Money Management Act, and rules made under the act;

(c) has no power or authority to incur contractual obligations or liabilities that constitute a claim against public funds except as provided in this section;

(d) may not exercise executive, administrative, or rulemaking authority over the programs described in this section, except to the extent specifically authorized by the responsible school board;

(e) is exempt from all taxes levied by the state or any of its political subdivisions with respect to activities conducted under this section;

(f) may participate in the Risk Management Fund under Section 63A-4-204;

(g) shall provide a school with information detailing transactions and balances of funds managed for that school;

(h) shall, for foundation accounts from which money is distributed to schools, provide all the schools within a school district information that:

(i) may not:

(a) require the foundation to:

(b) review and approve the foundation's accounting, purchasing, and check issuance policies to ensure that there is an adequate separation of responsibilities;  and

(c) approve procedures to verify that issued foundation payments have been properly approved.