A.
A Shared Asset Forfeiture Fund (SAFF) shall be established in the Department of Police to provide funding to private, not-for-profit and community-based organizations classified as and meeting the requirements of 26 U.S.C. § 501(c), (3) or (4), for conducting programs associated with law enforcement, crime, drug and alcohol abuse prevention, that contribute to the safety, betterment, and physical well-being of youth within the City of Buffalo.
B.
The SAFF shall be accounted for in the appropriate fund and account group designated by the Comptroller in accord with generally accepted accounting principles and regulatory requirements.
C.
The SAFF shall be comprised of 15% of all Drug Asset Forfeiture Funds (DAFF) received by the City, interest earned on the investment of idle SAFF, and/or donations from other sources. Currently, U. S. Department of Justice regulations allow DAFF to be transferred to a SAFF in an amount not to exceed 15% of DAFF recovered and received by the City during a fiscal year.
D.
SAFF spending shall be in accord with an approved SAFF annual spending plan that shall be fully expended annually. SAFF principal shall be used to pay spending plan expenses; idle SAFF shall be invested to maximize interest earnings thereon. SAFF purchases shall be consumed and/or distributed upon delivery or as soon as possible thereafter and shall not be stored to create an inventory. SAFF shall not be used for salaries, operating supplies, equipment, capital improvements, real estate acquisition, SAFFAC expenses, or like expenses.
E.
Unless identified otherwise, all positions and entities referred to herein are as listed in the City Charter and Code.