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Proposal
Endowment Committee Meeting
January 25, 2007

To Scholarship Committee
Year 2006 Income Distribution for Scholarship awards :

It is the recommendation of the Endowment Committee to the Church Council that there is available Scholarship funds up to the amount of $5,862.61 to award in year 2007.   The recommendation is subject to approval of the Council.

      $3027.58    THE ASBURY SCHOLARSHIP
      $2471.13    THE RUEGSEGGER SCHOLARSHIP
        $363.90    ERMA M. RUGG SCHOLARSHIP

Endowment Fund Committee
Janice Y. Berger Secretary-Treasurer

FROM ENDOWMENT COMMITTEE MEETING
January 25, 2007

ENDOWMENT FUND COMMITTEE RECOMMENDATION TO CHURCH COUNCIL
By Chairperson of Endowment

The year 2006 Endowment Fund Income is $ 7,855.78

The Endowment Committee recommends distributing the year 2006 Income as such:
The year 2006 capital gains income of $6,228.14 be retained/invested in additional assets.
The year 2006 interest and dividend of $7,855.78 be used as defined in the Endowment Resolutions
   $566.05   to General Budget
$3,959.89 applied to Scholarships ($1124.86 + 2471.13 + 363.90)
$3,329.84 (Schmelzer/Eash/Erb/Blumenstein #10,12,13,14) for use in areas : Mission/local people projects, Trustee’s projects: major repairs/improvements and special objects or furnishing and Program development/Enhancements: including Education/communication, Evangelism and Worship.

Donors wishes and Endowment Resolutions give us guidance in using Gifts:
    The above committee(s) may bring their plans/written presentation for using funds to the Church Council. The Funds to be used for non-recurring expenses of church not regularly Budgeted (except example of the Gardner Estate(s) gifts/the income not principal used in general budget). And no principal or income Funds to be used for apportionments assessed to the Church by the Annual Conference.
     Funds should be used prudently AS THEY BECOME Available. Funds may be accumulated by Trustees or Church Council for specific projects with approval of the church council

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