(a) The Center shall be authorized to receive state appropriations, federal moneys, and local school district funding and shall follow state and federal policies and procedures for the investment of such funds.
(b) The Center shall be authorized to establish special fund accounts for the purpose of receiving donations, grants, gifts and such other contributions that may be presented to it for use in the conduct of its business, subject to approval of the State Clearinghouse Committee. These accounts shall be interest-earning. The Center may accept such restrictions as the grantor or grantors may impose; provided, however, that no such restrictions contravene the laws of the State. These accounts shall be subject to audit by the State Auditor.
(c) The General Assembly intends that any funding provided to the Center shall augment, rather than replace, funding for existing programs. Toward this end, any funds provided to local education agencies by the Center shall not be used to reduce expenditures from funds received by districts from other funding sources, including but not limited to: State appropriations, federal grants, local district funding and other nonpublic funding sources.