2006 Utah Code - 63-88-106 — Expenditures from the trust fund.

     63-88-106.   Expenditures from the trust fund.
     (1) (a) Under the direction of the board of trustees, the trust administrator may make expenditures to invest in business enterprises:
     (i) as authorized and limited by this section; and
     (ii) giving consideration to the advice of the Dineh Committee.
     (b) When making expenditures to invest in a business enterprise the trust administrator:
     (i) may expend trust monies only on a business enterprise located in San Juan County;
     (ii) may expend trust fund monies only:
     (A) to invest in a joint business enterprise; and
     (B) when the other party's capital investment is larger than the trust fund's expenditure; and
     (iii) may not continue to make expenditures to or in support of a business enterprise if the business enterprise fails to show a profit within three years.
     (2) (a) Before making any expenditures to a business enterprise or service provider from the trust fund, the trust administrator shall:
     (i) comply with Title 63, Chapter 56, Utah Procurement Code; and
     (ii) review and approve the business enterprise's or service provider's entire budget.
     (b) The trust administrator may require that a business enterprise or service provider modify its budget or meet other conditions precedent established by the trust administrator before the business enterprise or service provider may receive expenditures from the trust fund.
     (3) The trust administrator shall make all expenditures from the trust fund that are not administrative expenditures by:
     (a) preparing a written document that:
     (i) defines specifically how the expenditure from the trust fund may be used;
     (ii) establishes any conditions precedent to its use; and
     (iii) requires the recipient of trust fund monies to provide the trust administrator with progress reports detailing how program funds have been expended; and
     (b) obtaining the signature of the recipient on that document before releasing any monies from the trust fund.
     (4) The trust administrator shall:
     (a) make rules in accordance with Subsection (6) that:
     (i) establish policies and criteria for expenditure of the trust fund monies that take into account the assessment analysis results; and
     (ii) establish performance evaluation criteria with which to evaluate the success of expenditures from the trust fund after they are made;
     (b) develop procedures, forms, and standards for persons seeking distribution of trust fund monies that implement the policies and criteria for expenditures established by rule;
     (c) evaluate all requests for expenditures of trust fund monies against:
     (i) the policies and criteria established by rule; and
     (ii) the requestor's success in meeting performance evaluation criteria and goals in any prior receipt of trust fund monies;
     (d) develop performance goals for each trust fund expenditure that implement the performance evaluation criteria established in rule; and
     (e) monitor and evaluate each trust fund expenditure based upon the performance goals and performance evaluation criteria created under this Subsection (4).

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     (5) The trust administrator may expend trust monies for per diem and expenses incurred by the Dineh Committee in performance of their official duties.
     (6) The trust administrator shall make a rule described in Subsection (4)(a):
     (a) in accordance with Title 63, Chapter 46a, Utah Administrative Rulemaking Act;
     (b) with the input and recommendation of the Dineh Committee; and
     (c) with the approval of the board of trustees.

Amended by Chapter 281, 2000 General Session