A. There is hereby created in the State Treasury a fund for the Oklahoma Commission on Children and Youth to be designated the “Children’s Endowment Fund of Oklahoma”. The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies received through donations or interest earned by investment of monies in the fund. The fund shall be invested by the State Treasurer in accordance with Section 89.2 of Title 62 of the Oklahoma Statutes. B. Funds deposited into the Children’s Endowment Fund of Oklahoma and any earnings therefrom, including any interest, dividends or realized capital gains from investment of monies in the fund, shall be administered by the Oklahoma Commission on Children and Youth, which is authorized to award grants to further the public purpose of stimulating a broad range of innovative programs, activities or research or evaluation that will improve the well- being and reduce the adverse childhood experiences of Oklahoma’s children. The funds shall not be used to expand existing services or to support ongoing core services. The Commission may also direct the State Treasurer to reinvest any earnings into the corpus of the fund. C. The Oklahoma Commission on Children and Youth shall promulgate rules to: 1. Establish a Parent Partnership Board for the purpose of informing the work of Oklahoma’s child-serving systems, assisting members of the Commission and their respective entities with areas of concern, supporting the Commission in the process of developing and awarding grants supported by the Children’s Endowment Fund of Oklahoma, and other activities upon request; and 2. Establish criteria and procedures for awarding grants. D. The Oklahoma Commission on Children and Youth may use up to ten percent (10%) of the funds deposited in the Children’s Endowment Fund of Oklahoma in any given fiscal year to provide administration, oversight, training or evaluation of the grantees or the Parent Partnership Board. E. Monies from the fund may be expended by the Oklahoma Commission on Children and Youth in accordance with the provisions of this section upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of Management and Enterprise Services for approval and payment. F. Notwithstanding any other provision of law, funds deposited in the Children’s Endowment Fund of Oklahoma shall only be expended as provided in this section.
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