§ 38-434 — DCPS School Facility Fund.

(a) There is established as a special fund the DCPS School Facility Fund ("Fund"), which shall be administered by the Mayor in accordance with subsection (c) of this section.

(b) Any fees collected for the use of school facilities pursuant to § 38-432(c) shall be deposited in the Fund.

(1) Money in the Fund shall be used for the following purposes:

(A) 75% of the money shall be transferred to DCPS schools, according to the formula described in paragraph (3) of this subsection.

(B) 25% of the money shall be transferred to the Department of General Services to administer the permitting process for the use of school facilities.

(2) Money transferred pursuant to paragraph (1) of this subsection shall be transferred by October 1 and February 1 of each year.

(3) Money transferred to DCPS schools under paragraph (1)(A) of this subsection shall be distributed to individual DCPS schools in amounts that are proportionate to the number of permits issued for the use of that DCPS school's school facilities.

(d) Any money remaining available in the Fund at the end of a fiscal year, as determined by the Chief Financial Officer in the fiscal year-end close, shall be transferred to the unassigned fund balance of the General Fund of the District of Columbia as part of the fiscal year-end close.

(e) At least once per year, the Mayor shall provide an accounting of fees collected for each DCPS school pursuant to § 38-432(c) , including the name and affiliation of each permit holder, to the principal of that DCPS school.

(f) The Mayor shall transmit an annual report to the Council, describing all fees collected pursuant to § 38-432(c) , broken down by DCPS school and permit holder.