Act of School Fundraising to Support the Education of Financially Disadvantaged Students Article 8

After an education savings account is opened and a report to the competent authorities for reference is submitted under Paragraph 1, Article 6, schools may begin the fundraising publicly.Schools shall establish a designated education savings account management team, which shall be in charge of maintaining and operating the revenue and expenditures of the account.The management team in the preceding paragraph shall consist of 5 to 11 members, including a convener who shall be the school principal. The remaining membership shall be comprised of: parent association representatives, honorable members of the community, expertise, scholars, and school faculty or staff (appointed or assigned). The number of external (non-school affiliated) representatives shall not be less than one-third of the total number of members.The tasks of the said management team are as follows:1. Identify financially disadvantaged students.2. Review the use in subsidy cases.3. Review the revenue and expenditures, maintenance and use of the funds.4. Review the liquidation procedures following the closure of an education savings account.5. Other fundraising-related and management affairs.Revenue can be transferred from one school’s education savings account to the other to support education-related expensed of other financially disadvantaged students after being reviewed and approved by the management task team prescribed in the preceding paragraph, as well as approved by the competent authorities.The regulations governing the means for forming and operating the education savings account management team shall be prescribed by the Ministry of Education.