Clinton Public Library Foundation
Clinton Public Library Foundation Inc. Disbursement Requirements
Who is authorized to disbursements? Clinton Public Library Foundation Board of Directors majority vote authorizes disbursement.
Who can receive disbursements? The Village of Clinton shall receive payment as keeper of expenditures. Disbursement expenditures will be made under the direction of the Clinton Public Library Board of Trustees. The Library Board of Trustees is entrusted with all decisions involving management of resources and facilities (refer to Wis. Stats. Chapter 43, Libraries- Powers/Duties).
Disbursement considerations before voting:
Disbursement must further Primary and Perpetual Purpose/Activities: Clinton Public Library Foundation’s primary and perpetual purpose is to seek donations, gifts, memorials, grants, and bequests, to help the library search out and obtain quality facilities, including, but not limited, to the erection and maintenance of the library building, collections, technology, furnishings, and grounds (80% of activity).
Disbursement must further CPL Foundation’s Goal: It is the goal of the Foundation is "to enrich, not replace traditional tax based support for the library through gifts/grants from individuals and organizations”.
Disbursement must further CPL Foundation’s Mission: The mission of the Foundation is "to provide quality library facilities for information, recreation, and lifelong learning for residents of all ages in the Village of Clinton and surrounding area.”
Disbursement must be in accordance with donor (s) wishes: You may make a major contribution to the Foundation. The Foundation Board will maintain and safeguard your contribution. Recognition for the contribution will be provided according to your wishes and the policies of the Foundation Board.
Disbursement must be in accordance with policies of the CPL Foundation Board: Review donor(s) designated wish list and disbursement form procedures.
Disbursement must be in accordance federal and state laws governing such transactions. In the case of real property, life insurance, estate holdings, and other like transactions the board of directors shall follow laws pertaining to disbursement.
Any other requirements applicable at the time of disbursement.
Meeting minutes will include documentation of disbursement considerations.