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Foundation board approves $9.18 million transfer to 2026 budget
Summary
Trustees voted to move $9,181,282.04 from the foundation holding fund to the foundation budget fund to cover the full 2026 approved budget amount; the resolution passed by voice vote.
The Porter County foundation board voted to transfer $9,181,282.04 from the foundation’s holding fund to the foundation budget fund to fund the full 2026 approved budget amount.
A motion to accept the resolution was made and seconded and the board carried the motion by voice vote. Trustees signified approval on the record; no substantive amendments or conditions were recorded during discussion.
The transfer was presented as routine budget housekeeping to align the foundation’s earnings with the board-approved 2026 budget. Board documents provided at the meeting referenced the specific dollar amount and the intended destination fund. The board did not request additional follow-up documentation during the meeting.
Next steps: staff will implement the transfer to the budget fund as approved and note the action in the foundation’s financial records.
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