1. Except as otherwise provided in subsection 2:

(a) The private money must be budgeted and expended, within any limitations which may have been specified by particular donors, at the discretion of the Board.

(b) The Board or its designee shall submit a report to the Interim Finance Committee semiannually concerning the investment and expenditure of the private money in such form and detail as the Interim Finance Committee determines is necessary.

(c) A separate statement concerning the anticipated amount and proposed expenditures of the private money must be submitted to the Chief of the Budget Division of the Office of Finance for his or her information at the same time and for the same fiscal years as the proposed budget of the Department submitted pursuant to NRS 353.210. The statement must be attached to the proposed budget of the Department when it is submitted to the Legislature.

2. Any private money which the Board authorizes for use in funding all or part of a classified or unclassified position or an independent contractor must be included in the budget prepared for the Department pursuant to chapter 353 of NRS. The Board shall transfer to the State Treasurer for deposit in the appropriate general fund budget account of the Division any money necessary to pay the payroll costs for the positions that it has agreed to partially or fully fund from private money. The money must be transferred on a regular basis at such times as the State Treasurer determines is necessary.

(Added to NRS by 1989, 1518; A 1993, 1585)