Event sponsorships.

The Chancellor may contract for advertisements and sponsorships for athletics, community engagement events, educational programs, or facilities improvements designed to generate resources for the District of Columbia Public Schools. There is established as a special fund the District of Columbia Public Schools Advertisements and Sponsorships Fund (“Fund”), which shall be administered by the Chancellor in accordance with paragraph (3) of this subsection. The Fund shall consist of all revenue from contracts for advertisements and sponsorships for athletics, community engagement events, educational programs, or facilities improvements pursuant to subsection (a) of this section. The Fund shall be used for the support of the operations of the District of Columbia Public Schools. The money deposited into the Fund, and interest earned, shall not revert to the General Fund of the District of Columbia at the end of a fiscal year, or at any other time. Subject to authorization in an approved budget and financial plan, any funds appropriated in the Fund shall be continually available without regard to fiscal year limitation.