Commissioners Court - Regular Session


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  30.       
Meeting Date: 08/06/2019  
Hutto Education Foundation Presentation
Submitted For: Russ Boles Submitted By: Michael Cooper, Commissioner Pct. #4
Department: Commissioner Pct. #4  
Agenda Category: Regular Agenda Items

Information
Agenda Item
Lizzy Samples will offer a presentation to the Commissioners Court on behalf of the Hutto Education Foundation.
Background
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.

Fiscal Impact
From/To Acct No. Description Amount
Attachments
HEF Commissioner's Court

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Form Review
Inbox Reviewed By Date
County Judge Exec Asst. Andrea Schiele 08/01/2019 09:41 AM
Form Started By: Michael Cooper Started On: 07/31/2019 02:34 PM
Final Approval Date: 08/01/2019

    

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