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Board accepts memorial scholarship funds, agrees to serve as fiscal agent
Summary
The board authorized the district to serve as fiscal agent for a Tom Jernstedt Memorial Scholarship Fund and approved acceptance of a $20,000 donation to establish the account; distribution plan discussed was $1,000 annually to one male and one female athlete.
The Yamhill‑Carlton School District board approved accepting a donation to establish the Tom Jernstedt Memorial Scholarship Fund and authorized the district to serve as the fund's fiscal agent.
Presenters said friends and family of Tom Jernstedt asked the district to hold and distribute the funds per donor criteria. During discussion presenters referenced a larger figure during the explanation phase but the motion that the board moved and approved was to accept a $20,000 donation and act as fiscal agent. A motion recorded in the meeting stated: "I motion to approve the donation of $20,000 and authorize the district to serve as the fiscal agent for the Tom Jernstedt Memorial Scholarship Fund." The board approved the motion by voice vote.
Board members and staff clarified that initial distribution language described $1,000 each annually to one male and one female athlete and that disbursements will follow criteria provided by the donors; administrators said the district will manage the account and provide distributions according to the donors' directions and any applicable district policy.
