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Home My WebLink AboutMINUTES - 09132011 - C.62RECOMMENDATION(S): ACCEPT the Librarian's Status Report on the Wilruss Children's Library Trust for Fiscal Year 2010-2011. FISCAL IMPACT: Balance in fund at the end of the previous year (6/30/10) $1,734,637 Amount in the fund at the end of the current year (6/30/11) $1,732,134 Amount received during the current year $ 49,964 Amount expended during the current year $ 52,467 Amount available for expenditure as of 6/30/11 $ 24,534 Interest was earned in FY 2010-2011 at a weighted average rate of 3.285%. During FY 2010-2011, the principal was invested by the County Treasurer using a laddered approach with yields ranging from 1.650% to 5.246%, and maturity dates ranging from 2010 to 2016 (see Attachment “A”). The trust principal amount earned interest at a rate of 6.6% in Fiscal Years 1998-99 through 1999-2001. A portion of those earnings were spent in Fiscal Years 2001-02 through APPROVE OTHER RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE Action of Board On: 09/13/2011 APPROVED AS RECOMMENDED OTHER Clerks Notes: VOTE OF SUPERVISORS AYE:John Gioia, District I Supervisor Gayle B. Uilkema, District II Supervisor Mary N. Piepho, District III Supervisor Karen Mitchoff, District IV Supervisor Federal D. Glover, District V Supervisor Contact: Gail McPartland, 925-927-3204 I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown. ATTESTED: September 13, 2011 David Twa, County Administrator and Clerk of the Board of Supervisors By: June McHuen, Deputy cc: C. 62 To:Board of Supervisors From:Barbara Flynn, County Librarian Date:September 13, 2011 Contra Costa County Subject:ACCEPT the Librarian’s Status Report on the Wilruss Children’s Library Trust 2008-09, FISCAL IMPACT: (CONT'D) when interest rates were lower, in order to continue the program at the same level of service. Beginning in 2009-10 expenditures from the trust have been budgeted to match expected investment returns, with an increasing reliance on budgeted County Library funding to maintain the service level of the Early Literacy Program. The current projection is that interest rates will continue to decline and additional budgeted County Library funding will be required to continue program activities at their current level of service through Fiscal Year 2012-2013. BACKGROUND: In 1996, the Contra Costa County Library was advised that it had been named to receive the proceeds from the Storm’s Living Trust valued at $1,707,600, which had been established by Mrs. Wilma Storms. Conditions of the trust require that all proceeds from the trust be placed in a new trust fund (the Wilruss Children’s Library Trust) for the design and maintenance of programs that promote literacy and a lifelong love of books and reading in socially and economically disadvantaged areas of Contra Costa County. Terms of the trust authorize the County Librarian to expend earnings from the trust each year and to carry over any unspent earnings from the prior years. In no case is the principal amount to be invaded, other than to pay approved claims against the Storms Living Trust. There is also a provision for an annual reporting to the Board of Supervisors on the Wilruss Children’s Library Trust. Here is a summary of the activities funded in FY 2010-2011: Reach Out and Read In FY 2010-2011 the County Library’s Reach Out and Read program maintained its affiliation with the national ROR organization, funded the program locally through the Wilruss Trust and trained clinical staff to educate parents on the importance of reading to children at an early age as essential to a child’s good health. Reach Out and Read Books were distributed to parents at 2,172 at Well Child Exams in four clinics. In FY 2010-2011 the library Early Literacy Specialist provided training for 20 pediatric clinic staff about the important role early exposure to reading and books plays in fostering healthy brain development. Clinicians then shared their knowledge with over 4,000 parents and young children. Stories to Go In FY 2010-2011 there were 33 active volunteers who contributed 1,310 hours of volunteer time reading to young children who could not otherwise visit the library for storytimes. Sixteen preschools participated in the Stories to Go outreach program. Volunteers used over 10,000 items of library materials throughout the year. Wilruss Trust Funds maintained the 325 story kits volunteers take to preschool sites. Books to Grow On Originally funded by a $10,000 grant from First Five Contra Costa Children’s and Families Commission, the Books To Grow On Program maintains 84 book kits that are available to any library card holder for checkout. During FY 2010-2011 the kits circulated 205 times. Office of Early Literacy During FY 2010–2011 the Early Literacy Specialist conducted 3 library trainings. The twenty staff who participated learned how to select age appropriate books for toddlers and preschoolers, as well as promote a lifelong love of books by effectively reading to young children. The Specialist also served as the early literacy professional resource person for 3 sessions of parent and toddler education workshops at the Concord Library. CONSEQUENCE OF NEGATIVE ACTION: If the report is not accepted then the Library will not be in compliance with the terms of the Trust. CHILDREN'S IMPACT STATEMENT: Wilruss Programs fulfill impact statements 1, 2 and 4. 1. Children Ready for Succeeding in School: The goal of all Wilruss programs is to increase school readiness by encouraging parents and caregivers to understand and practice early literacy skills. 2. Children and Youth Health and Preparing for a productive adulthood: All the Wilruss programs foster education and reading which are healthy and important activities which lead to adulthood. 4. Families that are safe stable and nurturing: All Wilruss programs promote nurturing in the course of teaching parents and providers to interact, converse, and read to children as a healthy and essential part of childhood. This action prompts feelings of safety and stability among children. ATTACHMENTS Attachment "A" Attachment A ATTACHMENT A WILRUSS TRUST HISTORY AND PROJECTION Actual Actual Actual Estimated Estimated 08-09 09-10 10-11 11-12 12-13 8451/740 Beginning Balance 1,745,342$ 1,723,401$ 1,734,637$ 1,732,134$ 1,732,134$ 8451/800 Amount Received 56,114$ 67,814$ 49,964$ 47,801$ 46,600$ 3748/9967 Budgeted Expenditures 77,717$ 56,314$ 56,000$ 46,300$ 46,600$ 8451/830/540 Actual Amount Expended (78,055)$ (56,578)$ (52,467)$ (47,801)$ (46,600)$ 8451/750 Ending Balance 1,723,401$ 1,734,637$ 1,732,134$ 1,732,134$ 1,732,134$ Principal 1,707,600$ 1,707,600$ 1,707,600$ 1,707,600$ 1,707,600$ Amount Available 15,801$ 27,037$ 24,534$ 24,534$ 24,534$ Additional Sources of Funding for Early Literacy Program Grants and Donations 16,700$ 1,000$ 1,000$ -$ -$ County Funding 16,679$ 36,115$ 37,039$ 48,472$ 49,673$