26.
Commissioners Court - Regular Session
- Meeting Date:
- 10/17/2017
- Title:
- Hutto Education Foundation
- Submitted For:
- Larry Madsen
- Submitted By:
- Julia Cooper, Commissioner Pct. #4
- Department:
- Commissioner Pct. #4
- Agenda Category:
- Regular Agenda Items
Information
Agenda Item
Discuss and take appropriate action on distribution of funds for the Hutto Education Foundation from the Waste Management Landfill Fund.
Background
Kristen Smith will offer a presentation to the Commissioners Court on behalf of the Hutto Education Foundation.
The Hutto Education Foundation is a conduit for the distribution of funds allocated by the Commissioners Court to the Hutto ISD. We have an agreement that 25% or a minimum of $20,000 goes into the Permanent Endowment Fund. The recommendation for last year was $ 95,000 total with $91,500 for the Endowment Fund.
This year’s recommendation is $150,000 to be divided as follows:
$ 146,500 for the Endowment Fund.
$ 3,500 for administration expenses.
This increase will allow the Foundation's Endowment to reach the Minimum Fund Balance of $500,000 as agreed by HISD and the Williamson County Commissioner's Court per the MOU.
Once the minimum fund balance requirement of $500,000.00 is attained, earnings above $500,000.00 may be used for higher education opportunities of Hutto High School students.
The Hutto Education Foundation is a conduit for the distribution of funds allocated by the Commissioners Court to the Hutto ISD. We have an agreement that 25% or a minimum of $20,000 goes into the Permanent Endowment Fund. The recommendation for last year was $ 95,000 total with $91,500 for the Endowment Fund.
This year’s recommendation is $150,000 to be divided as follows:
$ 146,500 for the Endowment Fund.
$ 3,500 for administration expenses.
This increase will allow the Foundation's Endowment to reach the Minimum Fund Balance of $500,000 as agreed by HISD and the Williamson County Commissioner's Court per the MOU.
Once the minimum fund balance requirement of $500,000.00 is attained, earnings above $500,000.00 may be used for higher education opportunities of Hutto High School students.
Fiscal Impact
| From/To | Acct No. | Description | Amount |
|---|
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| County Judge Exec Asst. | Wendy Coco | 10/04/2017 08:10 AM |
| Commissioner Pct. 4 | jcooper | 10/05/2017 10:36 AM |
- Form Started By:
- jcooper
- Started On:
- 09/27/2017 02:50 PM
- Final Approval Date:
- 10/05/2017