§ 6-3-109 - Revolving cash fund. - Arkansas Statutes

6-3-109. Revolving cash fund.

(a) The Arkansas Educational Television Commission is authorized to establish in a bank authorized to do business in this state, selected by the commission, a revolving cash fund into which the commission shall pay all funds received from the sale of instructional materials prepared by the commission or purchased by the commission and sold to schools in this state in connection with educational television programs.

(b) In addition, the commission is authorized to expend from the revolving cash fund amounts necessary to purchase instructional materials for sale to schools to be used for educational television purposes, including the cost of freight, postage, handling, and other delivery costs incidental to the purchase or sale.

(c) The commission shall keep a complete record of all receipts and expenditures from the revolving cash fund and shall make the record available to the Division of Legislative Audit for audit and verification.