§350B-2  Creation of the Hawaii children'strust fund.  (a)  There is established the Hawaii children's trust fund asa separate fund of the Hawaii Community Foundation, a Hawaii nonprofitcorporation.  Moneys received from the state, county, or federal government,income tax remittances allocated under section 235-102.5, and privatecontributions of cash and other property, and the income and capital gainsearned by the fund shall constitute the trust fund assets.

(b)  The Hawaii Community Foundation shall havethe responsibility for the expenditure of moneys from the trust fund for thepurposes of this chapter.

(c)  The purpose of the trust fund is tostrengthen families primarily by the award of grants for primary and secondaryprevention activities to prevent child abuse and neglect.

(d)  The fund may receive contributions,grants, or gifts in cash or otherwise from all sources.  The legislatureintends that the public and private sectors work together as partners insecuring contributions for the fund.  The State may donate moneys to the trustfund by legislative appropriation; provided that any appropriations made by theState are not intended to supplant the funding of existing prevention programs.

(e)  There shall be an endowment component ofthe Hawaii children's trust fund.

(f)  The aggregate principal sum deposited inthe Hawaii children's trust fund, and any income and capital gains earned bythe trust fund but not expended for grantmaking or administration, shall beinvested in accordance with the provisions of the Hawaii Community Foundationin a manner intended to maximize the rate of return on investment of the trustfund consistent with the objective of preserving the trust fund's principal.

(g)  The department of health shall serve as thelead agency for the public sector and, in conjunction with the Hawaii CommunityFoundation, may provide staffing for the board, the coalition, and advisorycommittee.

(h)  Results of the annual audit of the HawaiiCommunity Foundation shall be submitted to the department of health not laterthan thirty days from the date the Hawaii Community Foundation receives theaudit results.  The Hawaii Community Foundation shall retain for three yearsall documents, papers, books, records, and other material pertinent to the fundand audit.  The Hawaii Community Foundation shall permit the department ofhealth, the department of accounting and general services, the legislature, andthe auditor, or their authorized representatives, to inspect and have access toany of these materials.

(i)  In the event of the termination of thetrust fund or the dissolution of the Hawaii Community Foundation, the unspentappropriations made by the State, if any, shall revert back to the State.  Anyother amounts remaining in the Hawaii children's trust fund shall bedistributed at the recommendation of the board. [L 1993, c 336, pt of§2; am L 2004, c 228, §4]