571-6. Establishment and Maintenance of Trust Fund.
(a) There is hereby established a local Children and Families Trust Fund, to be administered by the commission. Funds allocated and appropriated to the commission shall be deposited in the trust fund and shall be expended only for the purposes authorized by the Act and in accordance with the strategic plan approved by the commission. (Ord. 2185, § 1, 12/15/1998; Ord. 2380, § 1, 2/27/2007)
(b) The local trust fund shall be maintained and administered by the Commission as provided for by a written Fiscal Policy adopted by the Commission. The Fiscal Policy shall be reviewed at least annually, and shall contain, at a minimum, the following components: (Ord. 2380, § 1, 02/27/2007)
(1) Investment guidelines; (Ord. 2380, § 1, 2/27/2007)
(2) Establishment of a fiscal subcommittee, and duties of the subcommittee; (Ord. 2380, § 1, 2/27/2007)
(3) Cash flow requirements; (Ord. 2380, § 1, 2/27/2007)
(4) Reporting and monitoring requirements; (Ord. 2380, § 1, 2/27/2007)
(5) Guidelines for management of the “Sustainability Fund.” (Ord. 2380, § 1, 2/27/2007)
(c) The Commission shall set aside a portion of its trust monies for the purpose of establishing and maintaining a long-term, stable source of funds. This shall be known as the “Sustainability Fund.” Guidelines for management of this Fund shall be included as part of the Fiscal Policy of the Commission. The principal component of this Fund shall not be expended upon grant programs, except as allowed by the Fiscal Policy. (Ord. 2380, § 1, 2/27/2007)