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City introduces appropriation for Paul Jocelyn fund donation to senior center; first distribution noted
Summary
Franklin officials introduced a budgetary ordinance to appropriate the first distribution from the Johnson County Community Foundation's Paul Jocelyn fund—part of a $1 million donation — for the active adult/senior center; council will hold a public hearing at the next meeting.
Franklin City officials introduced an ordinance to appropriate the first distribution from the Johnson County Community Foundation's Paul Jocelyn fund during the Feb. 18 meeting.
Chip Warner, director of parks and recreation, told the council this is "our first distribution from the Johnson Community Foundation from the Paul Jocelyn bond ... the million dollars that was donated." Warner said the city received a check and will place the funds in a dedicated fund for the active adult center so the gift cannot be spent on other purposes. He said the annual distribution should generally yield interest in the range of roughly $25,000–$30,000 that can support programming and that the city had already purchased buses funded separately.
Warner said the initial distribution will not all be spent immediately and that the city intends to use the interest over time to support senior-center programming; he also indicated the fund's wrap on the buses will identify the Paul Jocelyn Fund as the donor.
The mayor read the ordinance into the record as an introduction; council members asked questions about stipulations, and Warner said the gift is to be used at the active adult center. The ordinance was introduced for a public hearing at the next meeting where the council may move to appropriate the funds.
