Common use of Program Fund Clause in Contracts

Program Fund. There is hereby established the NEOMIN Program Fund (“NEOMIN Program Fund” or “Program Fund”) that shall be maintained by the Fiscal Officer as a separate fund for the payment of costs of NEOMIN programs and operations. The Board may from time to time authorize and direct the Fiscal Officer to establish separate accounts or subaccounts within the Program Fund. The Program Fund, consisting of the accounts and subaccounts as may be established from time to time, shall be subject to the laws of the state concerning the investment and management of public funds, and shall be subject to audit and inspection by the Auditor of State. The Fiscal Officer shall deposit in the Program Fund all money received from the State Department of Education for the Ohio Education Computer Network, all money received from the Members, the Program Participants and from any other source for payment of costs of NEOMIN operations. Investment income earned on money and investments held for the credit of the Program Fund shall be credited to the Program Fund. Money and investments held to the credit of the Program Fund shall be disbursed by the Fiscal Officer as provided in this Agreement for payment of costs of the Program.

Program Fund. There is hereby established the NEOMIN WOCO Program Fund (“NEOMIN WOCO Program Fund” or “Program Fund”) that shall be maintained by the Fiscal Officer as a separate fund for the payment of costs of NEOMIN WOCO programs and operations. The Board may from time to time authorize and direct the Fiscal Officer to establish separate accounts or subaccounts within the Program Fund. The Program Fund, consisting of the accounts and subaccounts as may be established from time to time, shall be subject to the laws of the state concerning the investment and management of public funds, and shall be subject to audit and inspection by the Auditor of State. The Fiscal Officer shall deposit in the Program Fund all money received from the State Department of Education for the Ohio Education Computer Network, all money received from the Members, the Program Participants and from any other source for payment of costs of NEOMIN WOCO operations. Investment income earned on money and investments held for the credit of the Program Fund shall be credited to the Program Fund. Money and investments held to the credit of the Program Fund shall be disbursed by the Fiscal Officer as provided in this Agreement for payment of costs of the Program.

Program Fund. There is hereby established the NEOMIN NOACSC Program Fund (“NEOMIN NOACSC Program Fund” or “Program Fund”) that shall be maintained by the Fiscal Officer of NOACSC as a separate fund for the payment of costs of NEOMIN NOACSC programs and operations. The Board of Directors may from time to time authorize and direct the Fiscal Officer to establish separate accounts or subaccounts within the Program Fund. The Program Fund, consisting of the accounts and subaccounts as may be established from time to time, shall be subject to the laws of the state concerning the investment and management of public funds, and shall be subject to audit and inspection by the Auditor of State. The Fiscal Officer shall deposit in the Program Fund all money received from the State Department of Education for the Ohio Education Computer Network, all money received from the Members, the Program Participants and from any other source for payment of costs of NEOMIN NOACSC operations. Investment income earned on money and investments held for the credit of the Program Fund shall be credited to the Program Fund. Money and investments held to the credit of the Program Fund shall be disbursed by the Fiscal Officer as provided in this Agreement for payment of costs of the Program.