40 Neb. Admin. Code, ch. 2, § 003

Current through September 17, 2024
Section 40-2-003 - Procedures for obtaining funds from the Nebraska Cultural Preservation Endowment Fund
003.01 Earnings from the Nebraska Cultural Preservation Endowment Fund shall be transferred to the Nebraska Arts and Humanities Cash Fund (Cash Fund) on a regular basis as determined by the State Treasurer, the Department of Administrative Services (DAS), and the NAC. The NAC will administer and distribute the Cash Fund.
003.02 The budget division of the DAS will approve disbursements from the Cash Fund only to the extent the NAC has provided documentation of dollar-for-dollar match by sources other than Nebraska state funds.
003.03 In order to receive disbursements from the Cash Fund, the NHC must provide the NAC with documentation of dollar-for-dollar match by sources other than state funds.
003.04 The ultimate use of disbursements from the Cash Fund shall be in a ratio of seventy percent to projects, endowments, or programs designated by the NAC, and thirty percent to projects, endowments, or programs designated by the NHC.
003.05 The NAC and NHC will each have separate systems and procedures for dealing with disbursements from the Cash Fund.
003.06 Both the NAC and the NHC will manage their own endowments, separate from the Nebraska Cultural Preservation Endowment Fund, where each agency can place endowed funds for the purpose of stabilizing the arts and humanities. These two endowments shall be designated herein as the "NAC Endowment" and the "NHC Endowment" or the "NAC/NHC Endowments" collectively.
003.07 New money means a contribution to a qualified endowment generated after July 1, 2011. Contributions not fully matched by state funds in the year the contribution is made shall be carried forward to succeeding years and remain available to provide a dollar-for-dollar match for state funds.

40 Neb. Admin. Code, ch. 2, § 003