Commissioners Court - Regular Session
Issue viewing agenda items? Click here to switch to the old format.
Return to the Agenda
Hutto Education Foundation Presentation
Michael Cooper, Commissioner Pct. #4
Commissioner Pct. #4
Regular Agenda Items
Lizzy Samples 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 Education Foundation. Per the Memorandum of Understanding between the Commissioners Court and HEF, we have an agreement that 25% or a minimum of $20,000 goes into the Permanent Endowment Fund. The recommendation for last year was $150,000 total with $146,500 for the Endowment Fund.
This year’s recommendation is $170,000 to be divided as follows:
$ 166,500 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, interest that is above the $500,000.00 mark may be used for scholarships for higher education opportunities of Hutto High School students.
HEF Commissioner's Court
County Judge Exec Asst.
08/01/2019 09:41 AM
Form Started By:
07/31/2019 02:34 PM
Final Approval Date:
AgendaQuick ©2005 - 2020 Destiny Software Inc. All Rights Reserved.