25 Miss. Code. R. 102-3.1 - Donated Funds
The MSVA is to receive and accept gifts and\or donations for the benefit of the State Veterans Nursing Homes and to use said gifts for carrying out the objective and purpose of the State Veterans Nursing Homes. The agency's policies and guidelines for the use of said funds, are hereby set forth.
A. The MSVA will accept private
donations from any source with the understanding that the donation may be
designated for general use. at the discretion of the Board, or for use for a
specific purpose. All donated funds will be used for the general welfare and
benefit of all the residents.
B.
Any person or entity specifying a particular use for donated funds should do so
in writing. The funds so received shall be earmarked tor the particular purpose
and expended only for that purpose. If the MSVA determines that the purpose for
which the funds have been designated is not a realistic purpose or is not legal
or otherwise appropriate, then the agency shall return said funds to the donor
with a specific statement of the reason why the funds cannot be used for the
particular, designate purpose.
C.
The MSVA shall only use accrued interest from donated funds previously received
and hereafter received where such donated funds were/are given with the
understanding that the principle would be placed in an endowment with only
accrued interest being expended. However, the agency may expend such principle
on a two-thirds (2/3 vote of Board members present for an emergency or other
special circumstance relating to the health. safety, and welfare of SVNH
residents for which slate or federal funds cannot be (or cannot be timely) used
for that emergency or special circumstance.
D. Any funds received from any person or
entity for which a specific purpose is not designated shall be placed in a
general donation fund for use in the discretion of the Board (two-thirds vote
of members present required) pursuant to policies and guidelines. Examples of
appropriate expenditures of not-specified donated funds are as follow:
(1) Christmas presents
(2) Movies, parties, and other types of
entertainment. This would include equipment such as popcorn machine, ice cream
machine, aquarium, etc.
(3) Other
items for which state or federal funds cannot be for cannot be timely
used.
(4) MSVA shall provide the
Board with a monthly report on the status of the private donations
account.
E. MSVA shall
provide the Board an annual report on donations received and expenditures,
including accrued interest, from donated funds to donors and other interest,
from donated funds to donors and other interested parties.
Notes
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