Nevada Revised Statutes 439.525 – Gifts, grants and contributions: Accounting; use; administration
1. The Division may apply for and accept any available gift, donation, bequest, grant or other source of money to carry out the provisions of NRS 439.514 to 439.525, inclusive.
Terms Used In Nevada Revised Statutes 439.525
- Administrator: means the Administrator of the Division. See Nevada Revised Statutes 439.005
- Bequest: Property gifted by will.
- Division: means the Division of Public and Behavioral Health of the Department. See Nevada Revised Statutes 439.005
- 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. Any money that is accepted by the Division pursuant to subsection 1 must be deposited in the State Treasury and accounted for separately in the State General Fund.
3. Except as otherwise provided by the terms of a gift, donation, bequest or grant, expenditures from the account must be made only for carrying out the provisions of NRS 439.514 to 439.525, inclusive.
4. The Administrator shall administer the account created pursuant to subsection 2. Money in the account does not lapse to the State General Fund at the end of a fiscal year. The interest and income earned on the money in the account, after deducting any applicable charges, must be credited to the account. Any claims against the account must be paid as other claims against the State are paid.