Juneau Public Libraries Endowment Board

[Resolution 1609] Section 2. Board Powers. (a) The Board shall advise the Director of Libraries regarding the Juneau Public Libraries Endowment Fund, which shall be composed of all gifts and donations over $2,000.00 made to the Juneau Public Libraries. Fund monies shall be maintained in a trust account managed by the City and Borough Treasurer for the purposes of augmenting the Juneau Public Libraries' budget and not supplanting normal operational funds. (b) The board shall make such recommendations regarding the fund as will preserve the principal, including the use of interest income to protect the value of the principal from devaluation due to inflation. The board shall determine annually whether and how much of the interest income is to be expended each year for the benefit of the libraries and to accomplish the goals of the donors to the fund.