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County to accept Morton Forest endowment distribution for land management
Summary
Dane County staff asked the commission to accept an $18,003.14 distribution from an endowment established by donor Steve Morton at the Madison Community Foundation to support Morton Forest. Staff said the fund balance is roughly $500,000 and the distribution is the available maximum for the calendar year.
Dane County Parks staff asked the commission to authorize acceptance of the annual distribution from an endowment established by the donor Steve Morton to support Morton Forest.
The staff presentation identified an available distribution of $18,003.14 and explained the money is held at the Madison Community Foundation. Commission discussion clarified that the endowment’s balance is roughly $500,000 and that the foundation’s distribution calculation can allow multi-year stacking if distributions were not requested in a prior year.
A staff member described recent and planned uses of the endowment distribution for Morton Forest, including hiring contractors for prescribed burning and invasive species management under the direction of county natural resources staff. The presenter said the county established a revenue line to accept the distribution and an expense account to spend it on maintenance and management at the property.
A commissioner asked whether the funds are split into different accounts; staff said the distribution is accepted into a revenue account and then authority is increased on the corresponding expense account to spend the funds. The resolution authorizes acceptance of the distribution and the related budget adjustment.
A motion to approve the resolution was moved and seconded during the meeting. No roll-call vote was recorded in the transcript excerpt provided.
