2012 Wyoming Statutes
TITLE 9 - ADMINISTRATION OF THE GOVERNMENT
CHAPTER 2 - AGENCIES, BOARDS, COMMISSIONS AND DEPARTMENTS GENERALLY
9-2-907. Arts organization endowment fund.

(a) Any Wyoming nonprofit arts, cultural or historical organization may create an endowment fund into which there may be deposited monies from the state account. The principal of each endowment fund may not be expended by the qualifying organization. Only interest income earned on the amount in each endowment fund may be expended by the qualifying organization.

(b) If a qualifying organization receives monies from the state account, these monies shall be administered in accordance with generally accepted accounting principles.

(c) The department shall:

(i) Allocate monies from the state account to the endowment fund created by a qualifying organization under W.S. 9-2-907;

(ii) Determine the eligibility of each qualifying organization to receive monies from the state account into the endowment fund of the qualifying organization and be the final arbiter of eligibility;

(iii) Determine the matching amount each qualifying organization must raise in order to qualify to receive monies from the state account;

(iv) Establish a date by which each qualifying organization shall provide its matching fund;

(v) Verify that matching funds have been provided by each qualifying organization by the date determined in W.S. 9-2-908(e); and

(vi) In accordance with Wyoming Administrative Procedure Act, establish criteria by rule not otherwise prescribed in this article for determining the eligibility of qualifying organizations to receive monies from the state account.