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Broadwater County Trust Board votes to set trust corpus floor at $3 million
Summary
Citing improved market performance and expendable funds, trustees voted to raise the trust corpus floor to $3,000,000 to protect a future revenue stream; the motion passed by voice vote after brief discussion.
The Broadwater County Trust Board voted to raise the trust fund’s minimum corpus to $3,000,000, a change trustees said restores the corpus to earlier statutory guidance and provides a buffer against future market declines. Board members referenced past floor values recorded in prior minutes (transcript references of $2,700,000 and $2,750,000) and discussed inflation and long-term management before making a formal motion.
A trustee moved to set the floor at $3,000,000 and a second was recorded; after no further discussion the chair called for a voice vote and declared the motion carried. Board members cited the account’s improved balances, ongoing investment performance and available expendable funds (noted in discussion as roughly three quarters of a million dollars of expendable funds) as justification for the change. The board did not provide a roll-call vote tally in the transcript; the motion was carried as announced on the record.
Trustees noted the decision establishes a new baseline for future budgeting and grant-making and said they will revisit corpus policy as needed in subsequent meetings.
