Student Trust Fund

Section 830 Section 830.30  Student Trust Fund a)         Students are encouraged not to keep substantial amounts of money, based on the age and maturity level of each student, on their persons or in their rooms, but to deposit it in the Student Trust Fund.  Money can be deposited in the Student Trust Fund by the student or parents in person or by mail. A receipt shall be provided to the depositor. b)         Any restrictions or special considerations which the parents wish to apply to the student's withdrawals from the Trust Fund must be communicated in writing to the superintendent each year or when changes are to be made. c)         Students may make withdrawals, subject to any limitations the parents have imposed as set forth in subsection (b), of their money from the Trust Fund in increments of their choosing.  However, if a student requests an unusually large amount, based on the age and maturity level of each student, he or she shall be asked to explain the need and the parents will be contacted before the request will be approved. A dated, signed form acknowledging receipt must be completed at the time of withdrawal. d)         Parents or the students will be informed of the student's balance in the fund on a quarterly basis. e)         The Student Trust Fund is subject to the usual accounting controls (74 Ill. Adm. Code 245) and to audits by DHS' internal auditors and by the Auditor General of the State of Illinois.