TITLE
Title
INTERLOCAL AGREEMENT WITH THE GUILFORD COUNTY SOIL & WATER CONSERVATION DISTRICT TO ESTABLISH A BUDGET AND ASSIGNED FUND BALANCE FOR THE TRANSITION OF GUILFORD COUNTY SOIL & WATER CONSERVATION DISTRICT FOUNDATION ACCOUNT FUNDS
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SPONSOR
Sponsor
J. Leslie Bell
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BACKGROUND
Background
Since June 15, 2004, the Guilford County Soil and Water Conservation District (District) has been depositing revenue from the 1) No Till Drill rental; 2) Annual Tree Sale event; and 3) Donations (relative to all 3 revenue sources, donations are minimal) into a North Carolina Foundation for Soil and Water Conservation (Foundation) account - a 501(c)(3) tax-exempt organization
headquartered at 5171 Glenwood Avenue in Raleigh, NC. The fund typically does not exceed $10,000 at any point and current funds as of May 3, 2017 are $6,716.41 (see attached). This discretionary Foundation bank account is not currently part of, and is aside from, the County’s annual budget for the Soil and Water Program and is used by the District Board of Supervisors to supplement program funding (as needed) for its educational programs (elementary/middle school and high school), including but not limited to, its annual poster, speech and essay contest, staff training, and supporting other public education/awareness soil and water activities/programs (e.g., annual Awards Banquet).
Currently, an account ledger specifically for Guilford County Soil & Water Conservation District maintains the monthly revenue and expenditures for the District among any other co-mingled funds in the account which have been deposited by other sources not for the benefit of the Guilford County Soil and Water Conservation District. Any local cash received is converted to a money order or cashier’s check and sent to the Foundation for deposit and logged under Guilford County. When funds are needed and approved via a majority vote of the District Board of...
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