N.Y. General Municipal Law Section 6-U
Charitable gifts reserve fund

1.

The governing board of any city with a population less than one million, town or village may establish a reserve fund to be known as a charitable gifts reserve fund.

2.

Such fund may receive unrestricted charitable monetary contributions and the moneys in such fund shall be deposited and secured in the manner provided by § 10 (Deposits of public money)section ten of this article. The governing board, or the chief fiscal officer of such town, village or city, if the governing board shall delegate such duty to him or her, may invest the moneys in such fund in the manner provided by § 11 (Temporary investments)section eleven of this article. Any interest earned or capital gain realized on the money so deposited or invested shall accrue to and become part of such fund. The separate identity of such fund shall be maintained whether its assets consist of cash or investments or both.

3.

At the end of the fiscal year, the governing board of the town, village or city, within sixty days of the close of the fiscal year, may transfer the funds to the general fund or other fund of the municipal corporation, so that the funds may be used for charitable purposes.

4.

The governing board shall establish a procedure for contributions to the charitable gifts reserve fund, which shall include the provision of a written acknowledgment of the gift to the contributor.

Source: Section 6-U — Charitable gifts reserve fund, https://www.­nysenate.­gov/legislation/laws/GMU/6-U (updated Apr. 27, 2018; accessed Apr. 27, 2024).

3
Compensation for property of a municipal corporation, school district or district corporation taken by eminent domain 3‑A
Rate of interest on judgments and accrued claims against municipal corporations 3‑B
Limitation on real estate tax in New York city 3‑C
Limit upon real property tax levies by local governments 4
Investigation of expenditures of towns and villages 5
Payment of fines, civil penalties, rent, rates, taxes, fees, charges and other amounts by credit card 5‑A
Electronic or wire transfers 5‑B
Collection of fines, civil penalties, rent, rates, taxes, fees, charges and other amounts via the internet 6‑C
Capital reserve funds for counties, cities, villages, towns and sewer and water improvement districts 6‑D
Repair reserve funds for municipal corporations, school districts, district corporations and improvement districts 6‑E
Contingency and tax stabilization reserve fund for municipal corporations 6‑F
Snow and ice removal and road repair reserve funds for municipal corporations 6‑G
Capital reserve funds for fire districts 6‑H
Reserve fund for payment of bonded indebtedness in counties, cities, villages, towns and fire districts 6‑I
Airport development and amortization funds 6‑J
Workmen’s compensation reserve fund 6‑K
Electric utility depreciation reserve funds 6‑L
Mandatory reserve fund for municipal corporations, fire districts and school districts 6‑M
Unemployment insurance payment reserve fund 6‑N
Insurance reserve fund 6‑O
Solid waste management facility reserve funds 6‑P
Employee benefit accrued liability reserve fund 6‑Q
Intermunicipal agreement for a joint capital reserve fund in the county of Tompkins 6‑R
Retirement contribution reserve funds 1 6‑S
Community preservation funds 6‑T
Charitable gifts reserve fund 6‑U
Charitable gifts reserve fund 6‑V
Asset forfeiture escrow fund 7
Payment of municipal bonds 8
Application of revenues of a public improvement or part thereof, or service 9
Use of tax moneys raised outside constitutional tax limit 9‑A
Inter-fund advances 10
Deposits of public money 11
Temporary investments 12
Deposits of public authorities, public benefit corporations and other corporations 20
Special population census: population data 21
Cancellation of unpaid checks or drafts 22
Claims against fire insurance proceeds 23
Flexible benefits program 24
Corporation for the benefit of the city of New York 25
Treatment of capital costs and certain fund balances of the city of New York
Green check means up to date. Up to date

Accessed:
Apr. 27, 2024

Last modified:
Apr. 27, 2018

§ 6-U’s source at nysenate​.gov

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