Article 26:
Capital Facilities-Donations Expendable Trust Fund; Accept Donated Gifts, Legacies, Devises
Warrant Article Language
Shall the Amherst School District adopt the provisions of RSA 198:20-c, VI to authorize the acceptance of privately donated gifts, legacies, and devises, provided that such gifts, legacies or devises shall be invested and accounted for separately from, and not commingled with, amounts appropriated from taxation and further, any such privately donated gifts, legacies, and devises, shall be subject to the custody and investment provisions applicable to trust funds accepted under RSA 31:31, and further, shall the District establish a Capital Facilities-Donations Expendable Trust Fund per RSA 198:20-c, for the purpose of repairing, maintaining, and improving capital facilities in the Amherst School District, and to authorize the deposit of any privately donated gifts, legacies and devises into this fund, along with the use and expenditure of said funds, for this purpose, and further, to name the Amherst School Board as agents to expend from said fund? Majority Vote Required.
Recommended by the Amherst School Board (5-0)
Recommended by the Amherst School District Ways & Means (advisory budget committee) (7-0)
BOARD EXPLANATION
The establishment of this fund enables residents, organizations, and estates to contribute directly to the District’s capital facilities needs. All donated funds are legally restricted for the repair, maintenance, and improvement of capital facilities. The Trustees of Trust Funds will oversee and manage the fund in accordance with state law. Establishing this fund does not require any new taxes.
AMHERST WAYS AND MEANS COMMITTEE COMMENTS
This warrant article allows for the establishment of an expendable trust fund specifically designated for private donations. While the district has a history of funding expendable trust funds for certain capital maintenance needs and projects, this specifically designated expendable trust fund provides a legal avenue for the district to accept private donations for capital improvements. The district would be able to use these funds with the ability for flexibility in timing of when these funds could be spent. Previously, donations would need to be allocated and spent in a certain period of time, normally within a year. The creation of this expendable trust fund would enable the district to accept donations and thoughtfully use these funds over time to meet the goals of the district. The Committee fully supports this measure with a 7-0 vote in favor.
VOICE OF THE VOTER
This section provides voters and residents an opportunity to voice their opinions on the warrant articles. If you have an opinion you want to share please use the form below.