# Tex. Education Code § 51.004: SEPARATE ACCOUNTS; TRUST FUNDS; INTEREST

> Texas · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_TX_Ced_C51_S51.004

## Section

- **Citation:** Tex. Education Code § 51.004
- **Heading:** SEPARATE ACCOUNTS; TRUST FUNDS; INTEREST
- **Jurisdiction:** Texas
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** TX Code / Code ed / Chapter 51 / Section 51.004

## Text

(a) Separate accounts shall be kept on the books of the institution showing the sources of all sums collected and the purposes for which disbursements are made.

(b) All trust funds, including gifts, grants, and bequests received, establishing or adding to endowment funds, loan and scholarship funds, and funds for other current restricted purposes, shall be credited to separate accounts and shall not be commingled with other local or institutional funds.

(c) If the governing board so elects, deposits of all funds not specifically required to be deposited to special accounts may be deposited in a single bank account if the records of the institution clearly reflect the balances attributable to general funds and various categories of trust funds.

(d) Interest received from depository banks for funds on deposit may be credited to an appropriate account in either general funds or trust funds in relation to the sources of temporary investments in time deposits, if the disposition of the earnings was not specified by the grantor. Interest received from the trust funds time deposits shall be available for loans, scholarships, fellowships, institutional research, faculty aid, and other lawful purposes.

## Nearby sections

- [Tex. Education Code § 51.001 § 51.001. INSTITUTIONS TO WHICH APPLICABLE.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Ced_C51_S51.001.md)
- [Tex. Education Code § 51.002 § 51.002. FUNDS SUBJECT TO CONTROL.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Ced_C51_S51.002.md)
- [Tex. Education Code § 51.003 § 51.003. DEPOSITORIES.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Ced_C51_S51.003.md)
- [Tex. Education Code § 51.004 § 51.004. SEPARATE ACCOUNTS; TRUST FUNDS; INTEREST.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Ced_C51_S51.004.md)
- [Tex. Education Code § 51.005 § 51.005. REPORTS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Ced_C51_S51.005.md)
- [Tex. Education Code § 51.006 § 51.006. FUNDS NOT TO BE USED TO INCREASE SALARIES.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Ced_C51_S51.006.md)
- [Tex. Education Code § 51.007 § 51.007. PENALTY.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Ced_C51_S51.007.md)
- [Tex. Education Code § 51.008 § 51.008. CERTAIN RECEIPTS TO BE DEPOSITED IN STATE TREASURY.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Ced_C51_S51.008.md)
- [Tex. Education Code § 51.009 § 51.009. DEFINING AND ACCOUNTING FOR CERTAIN INCOME.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Ced_C51_S51.009.md)
- [Tex. Education Code § 51.010 § 51.010. COLLECTION OF DELINQUENT OBLIGATIONS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Ced_C51_S51.010.md)
- [Tex. Education Code § 51.011 § 51.011. DISPOSITION OF SMALL CREDIT BALANCES.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Ced_C51_S51.011.md)
- [Tex. Education Code § 51.012 § 51.012. PAYMENTS BY ELECTRONIC FUNDS TRANSFER OR ELECTRONIC PAY CARD.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Ced_C51_S51.012.md)
- [Tex. Education Code § 51.0031 § 51.0031. DEPOSITS AND INVESTMENTS.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Ced_C51_S51.0031.md)
- [Tex. Education Code § 51.0032 § 51.0032. INVESTMENT REPORTS AND POLICIES.](https://www.frixlaw.com/law-library/statutes/STATE_TX_Ced_C51_S51.0032.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_TX_Ced_C51_S51.004. Check the current official text before relying on it. Not legal advice.