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XI. EQUIPMENT, TRAINING, AND BUDGET <br />Each participating jurisdiction shall provide the equipment of its participating <br />VNET personnel. Each jurisdiction shall provide sufficient funds to update, <br />replace, repair, and maintain the equipment and supplies utilized by its <br />participating VNET personnel. Each jurisdiction shall provide sufficient funds <br />to provide for the training of its participating VNET personnel. <br />The equipment, supplies, and training provided by each jurisdiction to its <br />personnel participating in VNET shall be equal to those provided by the other <br />participating jurisdictions, <br />The Board shall be responsible for purchasing VNET-owned equipment. <br />Equipment purchased using VNET funds or forfeited property deemed owned <br />by VNET shall remain the property of VNET unless the Board transfers it to a <br />participating jurisdiction. The Board will ensure a record of the transaction is <br />maintained. The Board must approve any joint capital expenditure for VNET <br />equipment of $1,500.00 or more. Approval for capital expenditures of less <br />than $1,500.00 may be authorized by the VNET Chair. <br />XII. FINANCIAL REQUIREMENTS <br />VNET utilizes a Fiscal Agent for all account transactions and accounting. One <br />of the participating jurisdictions will provide the services of the Fiscal Agent <br />as approved by the Board. <br />The VNET operating budget relies primarily on three funding sources: State <br />and Federal Grants, VNET assets forfeited at the state and federal levels, and <br />funds provided by the participating jurisdictions. <br />Federal Grant funds are administered by the state and follow the state <br />budget cycle of July 1 through June 30 of the following year. VNET shall <br />request monthly reimbursements of expenses until the awarded amount is <br />exhausted. Once the Federal Grant has been exhausted, forfeited assets will <br />be used to pay expenses for the remainder of the budget cycle. <br />VNET shall prepare a budget each year that estimates the grant funds <br />available, and each participating jurisdiction shall provide VNET with the <br />annual cost to assign an officer and other approved personnel to the unit. A <br />jurisdiction's annual contribution is then divided by 12 and credited towards <br />the monthly salary and benefits of the jurisdiction's participating personnel. <br />All other expenses are paid for by VNET utilizing either Grant funds or <br />forfeited assets. The Board shall agree upon a date each year by which time <br />it will notify the participating jurisdictions of each jurisdictions' expected <br />contribution. <br />The DEA contribution to VNET includes providing office space, storage space, <br />parking, and phone service at no cost to VNET jurisdictions. <br />XIII. DISTRIBUTION OF SEIZURE FUNDS <br />The VNET Board provides oversight of seized and forfeited assets via the <br />Fiscal Agent. Forfeited assets may be distributed to participating agencies <br />Valley Narcotics Enforcement Team Interlocal Agreement - 4 <br />