31-9-13 - Revolving fund. - Mississippi Statutes

§ 31-9-13. Revolving fund.
 

In lieu of regular appropriations, the Department of Finance and Administration may assess against each institution, agency or individual acquiring surplus property from and through the Department of Finance and Administration a fee or commission on each item in sufficient amount to establish and maintain a revolving fund, to be used to operate and support the Department of Finance and Administration. The Department of Finance and Administration shall follow the procedure outlined by the United States Department of Health and Human Services in establishing the fund, and the fund shall never exceed more than One Million Dollars ($1,000,000.00) above and beyond four (4) months of operating expenses of the Department of Finance and Administration. 
 

With this revolving fund so acquired, the Department of Finance and Administration shall meet all items of expense incurred in acquiring, transporting, warehousing and distributing property to eligible applicants and also all items of expense incident to the operation of the offices of the Department of Finance and Administration, including salaries, office supplies and necessary general expenses, and all other items as are covered by legislative appropriation for those purposes. 
 

The Department of Finance and Administration may escalate, budget and expend funds from the revolving fund in an amount not to exceed Two Hundred Fifty Thousand Dollars ($250,000.00) in any one fiscal year to carry out the provisions of this section. 
 

Sources: Codes, 1942, § 9028-08; Laws,  1952, ch. 337, §§ 1-5; Laws, 1956, ch. 366, §§ 1-5; Laws, 1958, ch. 470, § 1; Laws, 1960, ch. 377, § 2; Laws, 1960, ch. 398, § 2; Laws, 1962, ch. 484, § 10; Laws, 1971, ch. 450, § 1; Laws, 1984, ch. 488, § 27; Laws, 2005, ch. 475, § 1; Laws, 2006, ch. 576, § 1; Laws, 2007, ch. 306, § 1, eff from and after July 1, 2007.