Item Coversheet
City of Independence
AGENDA ITEM COVER SHEET
BILL NO. 17-759Res.No:          6231

Agenda Title:

17-759 - A resolution to request reallocation or distribution of City of Independence designated funds managed by the Truman Heartland Community Foundation.
Recommendations:

Staff recommends adoption of the resolution. 
Executive Summary:

The Truman Heartland Community Foundation (THCF) manages 15 designated funds on behalf of City of Independence programs, departments and facilities. The resolution requests action from THCF to close or consolidate funds that are significantly depleted or for which the donor intent has been satisfied. The resolution further authorizes staff to create a new designated fund to support private fundraising for the new farmer's market structure near the Independence Square. 
Background:

The Truman Heartland Community Foundation (THCF) manages 15 designated funds on behalf of the City of Independence. Many of the funds were established in the 1980s and 1990s. In some cases, the original projects for which funds were donated are already compete and fund balances have dropped to low levels. Staff worked with THCF to determine which funds could reasonably be closed or consolidated to reduce administrative oversight yet also meet the original intent of the donors. The resolution specifies a recommendation for each fund and requests action from THCF to make the changes. 

 

In addition, the resolution authorizes the city manager to establish a new designated fund at THCF for the purpose of collecting private funds for the proposed new farmer's market structure and related improvements on the Independence Square. The Independence Civic Council approved a lead gift of $5,000 to establish this fund. The Rotary Club of Independence has approached the City about additional fundraising for this cause, and staff is currently working with the Rotary Club on a related donor agreement. 



Fiscal Impact:

There is no direct fiscal impact associated with this action.



Department:          City Manager's OfficeContact Person:          Lauren Palmer


REVIEWERS:
DepartmentAction
City Managers OfficeApproved
City Clerk DepartmentApproved
Finance DepartmentApproved
Finance DepartmentApproved
Law DepartmentApproved
City Managers OfficeApproved
City Clerk DepartmentApproved

Council Action:          Council Action:          Accepted

ATTACHMENTS:
DescriptionType
Resolution - THCF FundsResolution