To fulfill its duties and functions, the board is authorized, but not limited to:

1. (1) assess the needs of veterans, establish priorities, and develop goals and objectives for the Veterans' Trust Fund;
2. (2) decide how the monies in the fund must be disbursed;
3. (3) accept gifts, grants, and bequests from any person, entity, or foundation, either public or private;
4. (4) accept appropriations, loans, or grants from any governmental or quasigovernmental source;
5. (5) acquire and hold property;
6. (6) invest trust monies, including pooled investment funds maintained by the State;
7. (7) solicit proposals for programs aimed at meeting identified needs;
8. (8) establish rules of procedure for board meetings and any other function of the fund necessary for the orderly conduct of its business;
9. (9) enter into contracts for the awarding of grants to public or private, nonprofit organizations; and

10. (10) establish criteria for awarding of grants which shall include the consideration of at least:

    1. (a) the priority of the service need that the proposal addresses;
    2. (b) the quality and soundness of the proposal and its probable effectiveness in accomplishing its objectives;
    3. (c) a cost-benefit analysis of the project;
    4. (d) the degree of community support for the proposal;
    5. (e) the utilization of local resources, including volunteers, when appropriate, and matching or in-kind contributions which may be, but are not, required;
    6. (f) the qualifications of employees to be hired under the grant;
    7. (g) the experience of the proposed project administrators in providing ongoing accountability for the program.

HISTORY: 1995 Act No. 90, Section 1; 2000 Act No. 288, Section 4.