Funds from the following sources are exempt from the requirements of this chapter:
(1) general fund appropriations;
(2) funds appropriated by a South Carolina local government;
(3) nonstate funded research grants and contracts and federal financial aid, including work study, except as otherwise provided in this chapter;
(4) donated materials, supplies, in-kind services, buildings, land and equipment, if the donations do not create a future obligation of state general fund monies. If a donation does create a future obligation of state general fund monies, the donation is subject to review and approval, in accordance with Section 2-65-30 of this chapter;
(5) federal funds used in connection with capital improvement bond funds subject to authorization pursuant to Act 1377 of 1968.