[HISTORY: Adopted by the by the Board of Trustees of the
Village of Round Lake 9-19-2018 by L.L. No. 3-2018. Amendments noted where applicable.]
The Board of Trustees of the Village of Round Lake believes
that the creation of a Charitable Gifts Reserve Fund pursuant to New
York State General Municipal Law § 6-u will encourage charitable
giving to the Village for specific purposes, and creates a Charitable
Gifts Reserve Fund to administer any gifts received.
The name of the Charitable Gifts Reserve Fund is "The Charitable
Gifts Reserve Fund of the Village of Round Lake."
A.
The Charitable Gifts Reserve Fund ("Fund") shall be administered
by the Village Treasurer, who may receive and deposit monetary gifts
without approval of the Village Board of Trustees. Any nonmonetary
gifts to the Village shall not be administered as assets of the Fund.
B.
The Treasurer shall work with the Village's financial advisor,
the Village Attorney and other Village officers to provide the donor
with documents for the taxing authorities confirming the donor's
gift.
C.
Line items shall be established and maintained within the Fund to
correspond with any reasonable instructions from the donor received
with the gift.
D.
The Treasurer shall report to the Village Board of Trustees when
there is any material activity with respect to the Fund, such as the
receipt of a gift in excess of $200, or a distribution proposed from
the Fund by the Treasurer or any other person.
E.
No distributions from the Fund shall be made without authorization
from the Board of Trustees by majority vote of the members present.
The Board of Trustees may authorize the Treasurer to make specific
expenditures or types or categories of expenditures. The Board of
Trustees may from time to time expand or diminish the Treasurer's
discretion with respect to expenditures, or recommend or manage that
he or she consult with another Village officer or employee regarding
such expenditures, by resolution by majority vote of the members present.
F.
In the event the Charitable Gifts Reserve Fund holds funds for a
purpose which has ceased to exist (e.g., to maintain a Village building
which is demolished), the Village Board shall make such direction
with respect to the use of such funds as it finds most closely accomplishes
the donor's intent.
The Treasurer shall maintain a record of all transactions of
the Fund for a minimum of 10 years after such transactions. All such
records are public records subject to disclosure under Article 6 of
the Public Officer's Law.
