Nevada Revised Statutes 388D.325 – Creation and administration of Program Account; acceptance of certain money
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1. The Nevada National Guard Youth Challenge Program Account is hereby created in the State General Fund.
Terms Used In Nevada Revised Statutes 388D.325
- Bequest: Property gifted by will.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
2. The Office of the Military shall administer the Account. The money in the Account must be expended only to carry out the provisions of NRS 388D.300 to 388D.370, inclusive.
3. The Office of the Military may apply for and accept any gift, donation, bequest, grant, transfer from the State or a school district or other source of money for deposit in the Account.
4. The interest and income earned on the money in the Account, after deducting applicable charges, must be credited to the Account.
5. The money in the Account must remain in the Account and does not revert to the State General Fund at the end of any fiscal year.