Yorkville Music Boosters Student Escrow Accounts
YMB By-Laws Article 7.12
All moneys raised through fundraising are the property of the YMB and may only be disbursed in accordance with YMB bylaws. Funds are maintained for participating Y115 students and are not transferrable outside of the district. The Treasurer will maintain an individual escrow account log for each student in band, choir, and orchestra. This log will consist of: 1. the deposits to the student’s account from fundraising and donations; 2. withdrawals for various functions throughout the school year. Student Account funds may be only used to pay for 1. private lessons with a music teacher – approved private instructor; 2. Music teacher – approved instrumental music camps including the summer directly following graduation; 3. Travel with the music department; 4. other music department activities and expenses to be approved by music teachers and the Board. To make a withdrawal from a student account, a disbursement form should be submitted to the student’s music teacher for approval, who will forward it to the Treasurer. No board members may authorize withdrawals from a student account. A student cannot take his/her account into a negative balance. Records will be kept up-to-date and posted by the Treasurer. Upon graduating, students with a remaining balance in their account will have funds transferred to a sibling that is currently enrolled in band, orchestra or choir or the balance will be returned to the YMB general fund.