Brady Trust Fund

ALACHUA COUNTY LIBRARY DISTRICT POLICY STATEMENT

Approved by:Date:
Board of Trustees1/21/98
Governing Board2/12/98

In accordance with the Alachua County Library District Gifts and Donations Policy, the Governing Board has designated that Brady Trust Funds be maintained in an amount equivalent to the amount at the year of donation, i.e., inflation will be considered and the principal increased annually to counteract the effects of inflation. In addition, all earnings from the Brady Trust Fund in excess of the amount equivalent for inflation may be used to purchase items for the library collection, purchase library equipment, be reinvested in the Trust Fund; or used in combination for the library collection, library equipment and reinvestment in the Trust. The amount to be expended and/or reinvested from all excess earnings will be determined from year to year during the annual budget process in accordance with this policy.