There is established the Arts and Humanities Enterprise Fund (“Fund”) to be operated by the Commission. There shall be deposited into the Fund: Repealed. Interest earned on money deposited into the Fund. Private donations, gifts, and grants; and Proceeds of the sale or loan of works of arts, prints, and promotional items. Repealed. The monies in the Fund shall not be a part of, nor lapse into, the General Fund of the District or any other fund of the District. By October 1st of each year, the Commission shall publish in the District of Columbia Register and in a report submitted to the Council, a specific accounting of how monies in the Fund were expended and any remaining balance. The accounting shall include the following: The name of any donors or anonymous contributions; The amounts of each contribution; A description of any donated property; and Identification of the programs or recreation centers where the funds have been expended. Proceeds in the Fund may be expended for the administration, improvement, and maintenance of property and programs managed by the Commission. Proceeds in the Fund may be invested in a prudent and reasonable manner consistent with applicable District government policies and procedures. Repealed.
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