House of Assembly Fifty-Second Parliament, Second Session (52-2) 52 2 Parliament of South Australia House of Assembly published Answers to Questions Gift Funds GIFT FUNDS Dr McFETRIDGE House of Assembly Morphett GIFT FUNDS 132 Dr McFETRIDGE (Morphett) (27 July 2010) (First Session). 1.	How many gift funds currently exist in South Australian public hospitals and the South Australian Ambulance Service? 2.	When was each of the gift funds established and which organisation benefits from the funds raised? 3.	Where are monies raised by gift funds invested? 4.	Are proceeds from gift funds included in Treasury general revenue? The Hon. J.D. HILL House of Assembly Kaurna Minister for Health and Ageing Minister for Mental Health and Substance Abuse Minister for the Arts GIFT FUNDS The Hon. J.D. HILL (Kaurna—Minister for Health and Ageing, Minister for Mental Health and Substance Abuse, Minister for the Arts): I have been advised of the following: 1.	As at 30 June 2010, SA Health had around 260 specific purpose funds across all sites and these funds contain donations and fundraising proceeds. In addition, the Public Charities Funds Act 1935 requires prescribed Health Units to deposit donations with the Commissioner of Charitable Funds. Consequently, in addition to the 260 funds referred to above, there are funds held by the Commissioner on behalf of the prescribed health units. 2.	The beneficiary of funds is determined by any conditions attached to the donations. If a specific beneficiary is stated (e.g. a contribution towards a cancer ward), then monies are directed to a donation fund with that specific purpose. If no specific purpose is stated, the funds are dedicated to the health unit receiving the donation. The need to differentiate various beneficiaries and purposes is why health units have a large number of specific purpose donation funds. 3.	Funds not required for immediate use are invested in accordance with Government policy. Generally monies are held as term deposits or South Australian Finance Authority (SAFA) investments. The Commissioner of Charitable Funds invests gift funds in accordance with the Public Charities Funds Act 1935 and its own investment policy. 4.	No.