Kalamazoo Community Foundation Funds Policy
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- Monies in all accounts at the Kalamazoo Community Foundation are meant for programs and services, including materials, personnel, and building enhancements that support the strategic priorities and core values and not intended to supplant library operational funds. Private giving is not intended to substitute for public funding of Library operations.
- For expenditures in excess of $1,000 a recommendation will be brought to the full board for approval.
- For expenditures less than $1,000 a recommendation will be brought to the Finance & Budget Committee and it will inform the full board at the next regularly scheduled meeting.
- Funds that are designated for a specific service or project such as the local history funds, shall only be used to support the designated service.
- At the discretion of the board, funds may be withdrawn from the Kalamazoo Community Foundation (see endowment spending policy) for investment elsewhere, such as the KPL endowment.
Paying for a speaker or speaker series, purchase of a specialized acquisition over and above the materials budget, or acquisition of artwork, equipment or software for a special project, a non-essential building improvement to enhance services.
Paying for utility costs, normal operational upkeep, purchase of supplies, and replacement of approved expenditures within the budget.
Policy adopted December 20, 1994.
Policy effective December 20, 1994.
Policy revised May 22, 2017.