Skip to Navigation | Skip to Main Content | Skip to Site Map | Mobile Site

Senate Tracker: Sign Up | Login

The Florida Senate

2007 Florida Statutes

Developmental disabilities institutions; trust accounts.
Section 393.23, Florida Statutes 2007

393.23  Developmental disabilities institutions; trust accounts.--All receipts from the operation of canteens, vending machines, hobby shops, sheltered workshops, activity centers, farming projects, and other like activities operated in a developmental disabilities institution, and moneys donated to the institution, must be deposited in a trust account in any bank, credit union, or savings and loan association authorized by the State Treasury as a qualified 1depository to do business in this state, if the moneys are available on demand.

(1)  Moneys in the trust account must be expended for the benefit, education, and welfare of clients. However, if specified, moneys that are donated to the institution must be expended in accordance with the intentions of the donor. Trust account money may not be used for the benefit of employees of the agency or to pay the wages of such employees. The welfare of the clients includes the expenditure of funds for the purchase of items for resale at canteens or vending machines, and for the establishment of, maintenance of, and operation of canteens, hobby shops, recreational or entertainment facilities, sheltered workshops, activity centers, farming projects, or other like facilities or programs established at the institutions for the benefit of clients.

(2)  The institution may invest, in the manner authorized by law for fiduciaries, any money in a trust account which is not necessary for immediate use. The interest earned and other increments derived from the investments of the money must be deposited into the trust account for the benefit of clients.

(3)  The accounting system of an institution must account separately for revenues and expenses for each activity. The institution shall reconcile the trust account to the institution's accounting system and check registers and to the accounting system of the Chief Financial Officer.

(4)  All sales taxes collected by the institution as a result of sales shall be deposited into the trust account and remitted to the Department of Revenue.

(5)  Funds shall be expended in accordance with requirements and guidelines established by the Chief Financial Officer.

History.--s. 34, ch. 2006-227.

1Note.--The word "depository" was substituted for the word "depositor" by the editors.