(1) The department may accept and expend gifts, grants, and donations from any source, public or private, to make financial awards and purchase tangible items of recognition, such as banners or trophies, to award to public schools pursuant to the provisions of this part 6. The department shall transmit all public and private gifts, grants, and donations received pursuant to this section to the state treasurer who shall credit the same, in addition to any appropriations made by the general assembly, to the school awards program fund, which is hereby created in the state treasury and referred to in this section as the "fund".
(2) Subject to annual appropriation, the department may expend money that is appropriated to the fund to make financial awards and purchase tangible items of recognition, such as banners or trophies, to award to public schools pursuant to the provisions of this part 6. In accordance with section 24-36-114, the state treasurer shall credit all interest derived from the deposit and investment of money in the fund to the general fund. The department shall use any money credited or appropriated to the fund exclusively for awards and items of recognition and shall not use the money to pay for the expenses of the department in administering the program established in this part 6.
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