|
|
|
TMLS Board Establishes Endowment Fund
by Bob Crom, Member, Advisory Committee
At its August 21, 2004 meeting, the TMLA Board amended the Association's Bylaws in order to provide better management of undesignated gifts and bequests and to set forth priorities and procedures for dealing with such gifts. The amendment identifies the James W. Schwartz Environmental Preservation Fund as an endowment fund in which all undesignated gifts or bequests will be deposited. Expenditures from this fund are restricted to the support of preservation activities impacting Ten Mile Lake, including:
 | research |
| education |
| lake management |
| emergency response to environmental threats, and |
| protection of environmentally fragile areas. |
As specified in the amendment, the maximum withdrawal within any fiscal year would be limited to ten percent of the value of the endowment fund at the close of the previous fiscal year. Any distribution greater than that would require an affirmative vote by two-thirds of all members of the Board of Directors.
The prudent investment of these funds is the ultimate responsibility of a body composed of the Chair of the Finance Committee, the President, Vice President, and Treasurer of the Association.
WHERE DO YOU LIVE???TML MAPS SIMPLIFY THE ANSWERThanks to the efforts of Don and Heidi Hoppe and the TML Board, an informative, comprehensive, and attractive map is now available. The map identifies the various shores and points of the Lake, along with the many roads surrounding it. This colorful map also includes reefs, sand bars, buoys, trails, township borders, and more. Maps sized 11" by 17" are still available for $5.00. Maps sized 24" by 36", costing $40, were sold out at the annual meeting; however, these maps can be ordered for future printing. (If you want the map shipped to you, an additional $5.00 is charged for postage.) Call Gail Becher at 547-3214 to order either map. |
