FINANCIAL MANAGEMENT POLICY MANUAL

includes the responsibility to determine and plan for material support
and personnel requirements of the sealift forces financed through the
NDSF.
c. Provide necessary direction to manage the NDSF, including any
funding shortfalls or changes in program, and direct CNO (N09BF) as
to appropriate action to take (e.g. realignment of funds, work
stoppages, etc.) to properly execute the NDSF program.
(Change 65)
074700 TRUST FUNDS
1. DEFINITION.
PART H:
OTHER ACCOUNTS
Section I:
TRUST FUNDS
A trust fund is a fund which, established by legislative or administrative
action for specific purposes, may be used only in accordance with the
terms of the trust. Guidance with respect to acceptance and administration
of gifts is provided in the current issuance of SECNAVINST 4001.2.
2. GENERAL SCOPE.
a. Deposit of Gifts of Money Prior to Formal Acceptance or Rejection.
All money gifts received under 10 U.S. Code 2601 or 6973, prior to its
formal acceptance or rejection by the Secretary of the Navy (or by the
officer or official otherwise authorized to accept) will be deposited in
the deposit fund account "Budget Clearing Account (Suspense),
Navy," pending formal acceptance or rejection. All money received
under 10 U.S. Code 7220 prior to its formal acceptance or rejection
will be deposited in the receipt account "Profits from Sale of Ships;
Stores, Navy," pending formal acceptance or rejection.
b. Action Upon Acceptance or Rejection.
In all instances of rejection, the money will be returned to the donor.
If accepted, the gift will be deposited in the individual fund account as
appropriate under the authority of the United States Code listed in
subpar. a.
3. DEPARTMENT OF THE NAVY GENERAL GIFT FUND.
a. Scope.
The Department of the Navy General Gift Fund is authorized by 10
Financial Management Policy
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