Maine § 22 §3885 Funds

Maine Statutes

§ 22 §3885 — Funds

Maine·Title 22 HEALTH AND WELFARE·Part 3 CHILDREN·Ch. 1058 MAINE CHILDREN'S TRUST INCORPORATED

1.Control. The board may accept funds from a public or private source. Revenue to the fund must be managed, deposited, invested and disbursed by the board in a manner that is independent of control by the Department of Administrative and Financial Services.

2.Grants disbursement. The board shall establish a procedure and form for applications for grants of fund resources under this chapter. Upon board approval of an application, the board may disburse money from the fund to eligible recipients for the development, operation or awareness of prevention programs and prevention policies under this chapter.

3.Administrative expenses. Income must be allocated for the support of administrative expenses as follows.

4.Discretion. The board has sole discretion in the use of resources from source

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1.
Control.
The board may accept funds from a public or private source. Revenue to the fund must be managed, deposited, invested and disbursed by the board in a manner that is independent of control by the Department of Administrative and Financial Services.
2.
Grants disbursement.
The board shall establish a procedure and form for applications for grants of fund resources under this chapter. Upon board approval of an application, the board may disburse money from the fund to eligible recipients for the development, operation or awareness of prevention programs and prevention policies under this chapter.
3.
Administrative expenses.
Income must be allocated for the support of administrative expenses as follows.
4.
Discretion.
The board has sole discretion in the use of resources from sources other than the income tax checkoff by individuals.
5.
Endowment fund.
An endowment fund is established pursuant to this subsection. A minimum of 10% of tax checkoff revenue received each year from individuals must be set aside for allocation to the segregated endowment fund. Up to 90% of the checkoff revenue and other income received by the endowment fund may be expended annually by the board in accordance with this chapter.
6.
Income greater than $200,000.
At least 1/3 of the total annual revenue that exceeds $200,000 must be allocated to the endowment fund established under subsection 5.