Nevada Revised Statutes 432.131 – Creation; uses; interest and income to remain in Account; nonreversion
1. The Children’s Trust Account is hereby created in the State General Fund. Except as otherwise provided in subsection 2, the money in the Account must be used to prevent the abuse or neglect of children.
Terms Used In Nevada Revised Statutes 432.131
- 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.
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
2. No more than 5 percent of the money credited to the Account each year may be used for the expenses:
(a) Of administering the Account; and
(b) For travel of members of the Grants Management Advisory Committee created by NRS 232.383 or members of a working group of the Grants Management Advisory Committee that is appointed pursuant to NRS 232.387.
3. The interest and income earned on the money in this Account, after deducting any applicable charges, must be credited to the Account.
4. Any money remaining in the Account at the end of each fiscal year does not revert to the State General Fund but must be carried over into the next fiscal year.