Sicamous council has officially given the task of doling out grants in aid to the Shuswap Community Foundation.
Council recently approved a three-year agreement with the foundation, which will be responsible for determining how District of Sicamous grant-in-aid funding is distributed.
“It gives us the opportunity as council to be at arm’s length from the grant-in-aid process and the decision is being made by the Community Foundation,” commented Mayor Terry Rysz.
Along with the agreement, council approved a Community Service Grant Agreement policy update that caps grant program funding at $40,000 for the first year of the agreement, to be increased by $1,000 annually through the remainder of the agreement.
A grant administration fee will also be paid to the foundation in the amount of five per cent of the total grants, with a minimum annual payment of $2,500.
A grant committee is to be established, on which Coun. Malcolm Makayev will serve as the district’s representative. The remainder of the committee will be comprised of two Sicamous residents, and two foundation board members who also reside in the district.
This year the district handed out $59,000 in grant-in-aid funding, the most since 2012 when about $42,000 was distributed.
The Shuswap Community Foundation is a non-profit organization that manages more than $5.5 million in endowed assets, from which the annual earnings are distributed to support projects in the region that will “enhance the quality of life of residents.” The foundation also oversees community grants in aid for the City of Salmon Arm.