ยง 6-u. Charitable gifts reserve fund. 1. The governing board of any
city with a population less than one million, town or village may
establish a reserve fund to be known as a charitable gifts reserve fund.
2. Such fund may receive unrestricted charitable monetary
contributions and the moneys in such fund shall be deposited and secured
in the manner provided by section ten of this article. The governing
board, or the chief fiscal officer of such town, village or city, if the
governing board shall delegate such duty to him or her, may invest the
moneys in such fund in the manner provided by section eleven of this
article. Any interest earned or capital gain realized on the money so
deposited or invested shall accrue to and become part of such fund. The
separate identity of such fund shall be maintained whether its assets
consist of cash or investments or both.
3. At the end of the fiscal year, the governing board of the town,
village or city, within sixty days of the close of the fiscal year, may
transfer the funds to the general fund or other fund of the municipal
corporation, so that the funds may be used for charitable purposes.
4. The governing board shall establish a procedure for contributions
to the charitable gifts reserve fund, which shall include the provision
of a written acknowledgment of the gift to the contributor.
Structure New York Laws
Article 2 - General Municipal Finances
3-A - Rate of Interest on Judgments and Accrued Claims Against Municipal Corporations.
3-B - Limitation on Real Estate Tax in New York City.
3-C - Limit Upon Real Property Tax Levies by Local Governments.
4 - Investigation of Expenditures of Towns and Villages.
5-A - Electronic or Wire Transfers.
6-E - Contingency and Tax Stabilization Reserve Fund for Municipal Corporations.
6-F - Snow and Ice Removal and Road Repair Reserve Funds for Municipal Corporations.
6-G - Capital Reserve Funds for Fire Districts.
6-I - Airport Development and Amortization Funds.
6-J - Workmen's Compensation Reserve Fund.
6-K - Electric Utility Depreciation Reserve Funds.
6-L - Mandatory Reserve Fund for Municipal Corporations, Fire Districts and School Districts.
6-M - Unemployment Insurance Payment Reserve Fund.
6-O - Solid Waste Management Facility Reserve Funds.
6-P - Employee Benefit Accrued Liability Reserve Fund.
6-Q - Intermunicipal Agreement for a Joint Capital Reserve Fund in the County of Tompkins.
6-R - Retirement Contribution Reserve Funds
6-S - Community Preservation Funds.
6-T - Charitable Gifts Reserve Fund.
6-U - Charitable Gifts Reserve Fund.
6-V - Asset Forfeiture Escrow Fund.
7 - Payment of Municipal Bonds.
8 - Application of Revenues of a Public Improvement or Part Thereof, or Service.
9 - Use of Tax Moneys Raised Outside Constitutional Tax Limit.
10 - Deposits of Public Money; Security.
12 - Deposits of Public Authorities, Public Benefit Corporations and Other Corporations.
20 - Special Population Census: Population Data.
21 - Cancellation of Unpaid Checks or Drafts.
22 - Claims Against Fire Insurance Proceeds; Procedure.
23 - Flexible Benefits Program.