HomeMy WebLinkAboutMINUTES - 09172013 - C.47RECOMMENDATION(S):
ACCEPT the Librarian's Status Report on the Wilruss Children's Library Trust for Fiscal Year 2012/13.
FISCAL IMPACT:
Balance in fund at the end of the previous year (6/30/12) $ 1,748,624
Amount in the fund at the end of the current year (6/30/13) $ 1,753,640
Amount received during the current year $ 51,229
Amount expended during the current year $ 46,213
Amount available for expenditure as of 6/30/13 $ 46,040
Interest was earned in FY 2012-13 at a weighted average yield of 1.918%.
Interest yields continue to decline, from a weighted average of 3.285% in FY 2010-11 and 2.521% in FY 2011-12.
During FY 2012-13, the principal was invested by the County Treasurer using a laddered approach with yields
ranging from 0.781% to 4.422%, and maturity dates ranging from 2012 to 2018 (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 2008-09, when interest rates were lower, in order to
continue the program at the same level of service. Beginning in FY 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
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 09/17/2013 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I Supervisor
Candace Andersen, 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 17, 2013
David Twa, County Administrator and Clerk of the Board of Supervisors
By: Stephanie Mello, Deputy
cc:
C. 47
To:Board of Supervisors
From:Barbara Flynn, County Librarian
Date:September 17, 2013
Contra
Costa
County
Subject:Librarian’s Status Report on the Wilruss Children’s Library Trust
FISCAL IMPACT: (CONT'D)
will continue to decline. In response to declining interest rates and rising County Library funding requirements,
staffing for the Early Literacy Program has been reconfigured to reduce costs while maintaining service levels.
The County Library funding level was reduced to zero in FY 2012-13 due to staff turnover and reassignments.
BACKGROUND:
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 2012-13:
Reach Out and Read In FY 2012-13. 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 3384 Well Child Exams in three clinics.
This is an increase from 3334 visits in FY 2011-12.
Stories to Go In FY 2012-13. There were 21 active volunteers who contributed over 625 hours of volunteer time
reading to children ages 3-5 who could not otherwise visit the library for storytimes. Twenty-four preschools
participated in the Stories to Go outreach program. Volunteers used library materials to read to children, including
758 story kits provided and maintained by Wilruss Trust funds. Community groups donated $1,000 toward the
purchase of new story kits.
Books to Grow On . Originally funded by a $10,000 grant from First Five Contra Costa Children’s and Families
Commission, the Books To Grow On Program maintains 72 book kits that are available to any library card holder
for checkout. During FY 2012-13 the kits circulated 190 times.
CONSEQUENCE OF NEGATIVE ACTION:
If the report is not accepted then the Library will not be in compliance with the terms of the trust.
CHILDREN'S IMPACT STATEMENT:
Wilruss Programs fulfill impact statements 1, 2 and 4.
1. Children Ready for Succeeding in School: The goal of all Wilruss programs is to increase school readiness by
encouraging parents and caregivers to understand and practice early literacy skills.
2. Children and Youth Health and Preparing for a productive adulthood: All the Wilruss programs foster
education and reading which are healthy and important activities that lead to adulthood.
4. Families that are safe stable and nurturing: All Wilruss programs promote nurturing in the course of teaching
parents and providers to interact, converse, and read to children as a healthy and essential part of childhood. This
action prompts feelings of safety and stability among children.
ATTACHMENTS
Attachment A - Wilruss
Attachment A
WILRUSS TRUST HISTORY AND PROJECTION
Actual Actual Actual Actual Estimated
09-10 10-11 11-12 12-13 13-14
8451/740 Beginning Balance 1,723,401$ 1,734,637$ 1,732,134$ 1,748,624$ 1,753,640$
8451/800 Amount Received 67,814$ 49,964$ 63,113$ 51,229$ 41,700$
3748/9851 Budgeted Expenditures 56,314$ 56,000$ 46,300$ 46,000$ 41,700$
8451/830/540 Actual Amount Expended (56,578)$ (52,467)$ (46,623)$ (46,213)$ (41,700)$
8451/750 Ending Balance 1,734,637$ 1,732,134$ 1,748,624$ 1,753,640$ 1,753,640$
Principal 1,707,600$ 1,707,600$ 1,707,600$ 1,707,600$ 1,707,600$
Amount Available 27,037$ 24,534$ 41,024$ 46,040$ 46,040$
Additional Sources of Funding for Early Literacy Program
Grants and Donations 1,000$ 1,000$ 1,375$ 3,000$ -$
County Funding 36,115$ 37,039$ 19,213$ -$ -$