AN ACT AUTHORIZING THE TOWN OF MANSFIELD TO ESTABLISH A COUNCIL ON AGING TRUST FUND ACCOUNT.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. Notwithstanding the provisions of section fifty-three
of chapter forty-four of the General Laws or any other provisions of law to
the contrary, the town of Mansfield is hereby authorized to establish a
special account to be known as the Council on Aging Trust Fund into which
account shall be deposited all donations and gifts received from any source
by the council on aging and the council on aging department of said town.
Donations from private sources or specific fund raising campaigns may be
received and placed into said account, as well as monies from other sources
authorized by law.
SECTION 2. Said account shall be maintained by the town treasurer
of said town and shall be kept separate and apart from all other monies by
said treasurer. Said treasurer may invest the monies in said account in
the manner authorized by sections fifty-five and fifty-five A of chapter
forty-four of the General Laws. The interest accruing on said account
shall inure solely to the benefit of said account. Said account shall be
audited by an independent certified public accountant and said audit report
shall be submitted to the director of the bureau of accounts.
SECTION 3. The town treasurer shall assure that sufficient money
is available at all times to meet current liabilities. The council on
aging and the council on aging department in said town shall annually
furnish said treasurer a schedule of anticipated expenditures on a monthly
basis. Expenditures from such account may be authorized by majority vote
of the council on aging board of directors, in accordance with conditions,
restrictions or guidelines, if any, which may accompany the donation or
gift of any funds. Any monies so authorized for expenditure but not
expended shall revert to said account.