80-7-908. Deposit and disbursement of funds -- records -- investment. (1) There is a state noxious weed forage account in the state special revenue account. All funds received by the department from fees or penalties collected or received under 80-7-905 through 80-7-907, 80-7-921, and 80-7-922(1) and all other related funds received must be deposited in the state noxious weed forage account.
(2) The department may by contract allow for the collection of fees authorized under 80-7-907. A portion of the fees collected may be retained by the collector, and the portion of the fees assigned to the department must be submitted to the department. The contract must require:
(a) a record of the name of the person collecting fees;
(b) a record of fees collected;
(c) a record of the amounts submitted to the department;
(d) a record of the amount retained by the collector; and
(e) that all records be kept in accordance with generally accepted accounting principles.
(3) Funds received under 80-7-905 through 80-7-907, 80-7-921, and 80-7-922(1) that are not immediately required for the purposes of this part must be invested under provisions of the unified investment program established in Title 17, chapter 6, part 2. The income from the investments must be deposited in the state special revenue fund and credited to the department.
(4) Funds received pursuant to this part are available for appropriation to the department for the administration of the noxious weed seed free forage program and for the purposes of this part.
History: En. Sec. 8, Ch. 521, L. 1995; amd. Sec. 15, Ch. 10, L. 2009.