20-9-543. School flexibility fund -- uses. (1) The trustees of a district may establish a school flexibility fund and may use the fund, in their discretion, for school district expenditures incurred for:

(a) technological equipment enhancements and expansions considered by the trustees to support enhanced educational programs in the classroom;

(b) facility expansion and remodeling considered by the trustees to support the delivery of educational programs or the removal and replacement of obsolete facilities;

(c) supplies and materials considered by the trustees to support the delivery of enhanced educational programs;

(d) student assessment and evaluation;

(e) the development of curriculum materials;

(f) training for classroom staff considered by the trustees to support the delivery of enhanced educational programs;

(g) purchase, lease, or rental of real property that must be used to provide free or reduced price housing for classroom teachers;

(h) salaries, benefits, bonuses, and other incentives for the recruitment and retention of classroom teachers and other certified staff, subject to collective bargaining when applicable; or

(i) increases in energy costs caused by an increase in energy rates from the rates paid by the district in fiscal year 2001 or from increased use of energy as a result of the expansion of facilities, equipment, or other resources of the district.

(2) The financial administration of the school flexibility fund must be in accordance with the financial administration provisions of this title for a budgeted fund.