§350B-2 Creation of the Hawaii children's trust fund. (a) There is established the Hawaii children's trust fund as a separate fund of the Hawaii Community Foundation, a Hawaii nonprofit corporation. Moneys received from the state, county, or federal government, income tax remittances allocated under section 235-102.5, and private contributions of cash and other property, and the income and capital gains earned by the fund shall constitute the trust fund assets.

(b) The Hawaii Community Foundation shall have the responsibility for the expenditure of moneys from the trust fund for the purposes of this chapter.

(c) The purpose of the trust fund is to strengthen families primarily by the award of grants for primary and secondary prevention activities to prevent child abuse and neglect.

(d) The fund may receive contributions, grants, or gifts in cash or otherwise from all sources. The legislature intends that the public and private sectors work together as partners in securing contributions for the fund. The State may donate moneys to the trust fund by legislative appropriation; provided that any appropriations made by the State are not intended to supplant the funding of existing prevention programs.

(e) There shall be an endowment component of the Hawaii children's trust fund.

(f) The aggregate principal sum deposited in the Hawaii children's trust fund, and any income and capital gains earned by the trust fund but not expended for grantmaking or administration, shall be invested in accordance with the provisions of the Hawaii Community Foundation in a manner intended to maximize the rate of return on investment of the trust fund consistent with the objective of preserving the trust fund's principal.

(g) The department of health shall serve as the lead agency for the public sector and, in conjunction with the Hawaii Community Foundation, may provide staffing for the board, the coalition, and advisory committee.

(h) Results of the annual audit of the Hawaii Community Foundation shall be submitted to the department of health not later than thirty days from the date the Hawaii Community Foundation receives the audit results. The Hawaii Community Foundation shall retain for three years all documents, papers, books, records, and other material pertinent to the fund and audit. The Hawaii Community Foundation shall permit the department of health, the department of accounting and general services, the legislature, and the auditor, or their authorized representatives, to inspect and have access to any of these materials.

(i) In the event of the termination of the trust fund or the dissolution of the Hawaii Community Foundation, the unspent appropriations made by the State, if any, shall revert back to the State. Any other amounts remaining in the Hawaii children's trust fund shall be distributed at the recommendation of the board. [L 1993, c 336, pt of §2; am L 2004, c 228, §4]