This fund was established to account for the proceeds of a will. The will states the funds are to be used for public purposes and further restricts those public purposes to the recognition of foster parents.
During the 2015 General Session, the Legislature appropriated for Fiscal Year 2016, $0 from all sources for Maurice N. Warshaw Trust Fund. This is a 0 percent change from Fiscal Year 2015 revised estimated amounts from all sources.
There are no fund-specific reports. Due to the fiduciary nature of this fund, the Analyst recommends the fund be reported annually to the Social Services Appropriations Subcommittee.
The Department of Human Services has used the account consistent with the purposes stated in the will. It can take several years to accrue enough interest to provide foster parent recognition consistent with previous expenditures for the same purpose. Funds must be used for recognition of foster parents.
The balance of the fund is currently made up of investments. The largest amounts of money flowing into the account are from interest earned on the account.
COBI contains unaudited data as presented to the Legislature by state agencies at the time of publication. For audited financial data see the State of Utah's Comprehensive Annual Financial Reports.