Agenda

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City Council Regular Meeting

Meeting Date:

07/07/2020

BACKGROUND

Scholarship money is budgeted for the Hal Baldwin Scholarship each fiscal year. Historically, the Hal Baldwin Scholarship Committee has awarded up to $5,000 to scholarship recipients. This year, due to the caliber and the quality of the applications received, the Committee made the recommendation to City Council to award $10,000 to scholarship recipients (one $5,000 scholarship and two $2,500 scholarships) and at the June 9 Council meeting, Council approved Resolution 20-R-59, which authorized distribution of the scholarship funds to the three recipients.

With approval of this ordinance, the remaining $5,000 that is needed for scholarship distribution will be transferred from the Hal Baldwin Scholarship Fund Balance, which has a current balance of $114,156.43.

City Council approved this on first reading at their meeting of June 23, 2020.

GOAL

To distribute scholarship funds to the three recommended recipients.

COMMUNITY BENEFIT

The Hal Baldwin Scholarship serves a public purpose by encouraging and assisting graduating high school seniors from Schertz pursue their interest in public service at the collegiate level.

SUMMARY OF RECOMMENDED ACTION

City Staff recommends that the City Council approve Ordinance 20-T-21 on final reading.

FISCAL IMPACT

The City shall increase the budget for the Hal Baldwin Scholarship by $5,000.00 and offset the increase with a transfer of $5,000.00 from the $114,156.43 Hal Baldwin Scholarship Fund Balance.

RECOMMENDATION

City Staff recommends that the City Council approve Ordinance 20-T-21 to adjust the budget for the Hal Baldwin Scholarship to award scholarship funds to three Schertz students.

Attachments
Ordinance 20-T-21