(a) There is established a separate and distinct fund within the Treasury of the Virgin Islands to be designated and known as the “Junior Reserve Officers” Training Corps Fund“ (hereinafter, the ”Fund“). The Commissioner of finance shall maintain and provide for the administration of the Fund and no amounts therein shall be available for expenditure and disbursement except as provided in this section.
(b) The Fund shall consist of all sums appropriated thereto from time to time by the Legislature, all gifts, grants, bequests or contributions as may be made to the Fund, and all Federal money returned to the local government as reimbursement of salaries for Junior Reserve Officer Training Corps (JROTC) instructors, and which the Commissioner of Finance is authorized to accept and deposit therein; provided, however, that in no event shall the balance in the Fund exceed $100,000 during any fiscal year. Any excess money shall be deposited in the General Fund of the Treasury of the Virgin Islands.
(c) Monies shall be disbursed from the Fund by the Commissioner of Finance, upon the certification of the Commissioner of Education, for the purpose of JROTC activities including, but not limited to, the cost of travel for cadets, the purchase of equipment, supplies and other related expenditures.
(d) The Commissioner of Finance shall annually forward to the Governor and the Legislature, and shall make available to the public, a detailed accounting of the deposits and disbursements from the Fund and the unobligated balance thereof.