Mississippi Administrative Code
Title 25 - Military and Veterans - Veterans' Home Purchase Board
Part 102 - Organization
Chapter 3 - Operation of Organization
Rule 25-102-3.1 - Donated Funds

Universal Citation: MS Code of Rules 25-102-3.1

Current through September 24, 2024

The Board 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 object and purpose of the State Veterans Nursing Homes. The Board's policies and guidelines for the use of said funds, are hereby set forth.

A. The Board will accept private donations from any source with the understanding that the donation may be designated for general use in 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 for the particular purpose and expended only for that purpose. If the Board 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 Board 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 Board 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 Board 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 Home residents for which state 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 Board 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 (or cannot be timely) used.

(4) The staff of the State Veterans Affairs Board shall provide the Board with a monthly report on the status of the private donations account. Said report shall include the following details:
a. Balance

b. Interest

c. Expenditures and other expenses

d. Donations received

e. Any other information deemed appropriate by the Board.

E. The State Veterans Affairs Board shall provide 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.

Miss. Code Ann. § 35-1-29 (Rev. 2007).

Disclaimer: These regulations may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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