[nfbmi-talk] mde gift fund policy

[joe harcz Comcast]

MICHIGAN 
STATE BOARD OF EDUCATION 
  Gift Fund Procedures 
for the 
Michigan Schools for the Deaf and Blind 
  The Superintendent of Public Instruction is authorized to accept monetary gifts, 
bequests, and donations to the Michigan Schools for the Deaf and Blind (Schools) 
on behalf of the State Board of Education (SBE). Monetary gifts, bequests and 
donations shall be receipted by the Michigan Department of Education (MDE), 
acknowledged to the donor whenever possible, and deposited into the revenue 
account so designated by the MDE. 
 The Superintendent of Public Instruction may accept non-monetary gifts, as may be 
of value to the Schools. The proceeds shall be deposited into the designated 
account. Gifts shall be identified by donor and reported to the Superintendent of 
Public Instruction for conversion or use. The Superintendent of Public Instruction 
may decline gifts not in the best interest of the Schools. 
 Gifts, bequests, and donations received without specific instructions for use are 
considered general gifts. Those gifts specified for a particular use or purpose are 
considered restricted gifts and may be expended only in accordance with the 
donor's intent. A separate record of each restricted gift shall be maintained, and 
expenditures of restricted funds recorded until the principal of the restricted gift is 
exhausted. Records of such expenditures shall be maintained in accordance with 
applicable State retention and disposal standards. 
 Funds deposited into the Gift Fund account will be expended in accordance with the 
Gift Fund Spending Policy or as identified by the donor and in compliance with the 
Department of Management and Budget (DMB) and MDE policies, rules, and 
procedures. All expenditures from the Gift Fund account shall be made through 
central accounts established with the DMB and are subject to audit by the Office of 
the Auditor General. 
 Annually the Legislature appropriates a separate funding limit for private gifts for 
the blind and for the deaf. Should the gift funds budgeted exceed the amount 
appropriated by the Legislature for the Gift Fund account, a supplemental 
appropriation may be requested. 
 Where appropriate, and as listed in each gift, bequest, or donation, monies may be 
used to supplement other funding sources. However, such funds shall not be used 
to supplant general operating funds appropriated annually by the Legislature. 
 Expenditures over $5,000 require approval of the Superintendent of Public 
Instruction, except where those expenditures have already been approved as part 
of the annual spending plan or are consistent with the specific donor’s request. 
 The Superintendent of Public Instruction shall annually report to the SBE the 
revenue received from gifts, bequests, and donations received by the Schools. In 
addition, the Superintendent of Public Instruction shall report to the SBE the 
expenditures from the Gift Fund account. The MDE will receive and transmit 
annually a report of receipts and expenditures to the House and Senate Committees 
on Appropriations. 
 Gift fund policies and procedures shall be reviewed annually by the State Board of 
Education Trust Fund Committee, which may recommend changes to the SBE as 
needed. 
                                 Approved October 14, 2008