Supporting Document (51f1efb3...)

Docusign Envelope ID: 3C338279-4BC0-8D9B-838E-6A4F7FE5A0F7
Item 12
CITY COUNCIl
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4- * +
REPORT in %
49
Meeting Date: October 20, 2026
General Plan Element: Public Services & Facilities
General Plan Goal: Provide services to improve neighborhoods and the lives of
Scottsdale residents
ACTION
Rassner Memorial Scottsdale Library Endowment Allocation for FY 2026/27. Adopt Resolution No.
13776 approving the distribution of up to $18,900 in interest income from the Rassner Memorial
Scottsdale Library Endowment Fund for FY 2026/27 and authorizing the allocation of funds to
recommended activities.
BACKGROUND
The Rassner Memorial Scottsdale Library Endowment was established in 1989, when Mrs. Ruth S.
Rassner left a portion of her estate to the Scottsdale Public Library for the purchase of books and
literary materials in accordance with the provisions of her bequest.
The City established the endowment program in November 1991 to offer residents an opportunity to
contribute to their community with immediate and planned gifts held in perpetuity. Distributions of
interest income from the endowment funds are made each year in accordance with agreements
between the City and the Arizona Community Foundation, which holds the principal.
On September 9, 2026, the Library Board recommended the acceptance of up to $18,900 from the
Rassner Memorial Scottsdale Library Endowment. The endowment distribution will continue to
support the needs of the Scottsdale Library System by funding the development of the Library's
collection consistent with the purpose of the endowment.
ANALYSIS & ASSESSMENT
Significant Issues to be Addressed
The distribution of interest income provides for programs and services while holding the principal to
earn interest income for future library programs.
Community Involvement
On September 9, 2026, the Library Board held an open public meeting to discuss the use of the
endowment funds, and the Library Board recommended that Council accept the funds set forth in
Resolution No. 13776.
Action Taken ^

Docusign Envelope ID: 3C338279-4Be0-8D9B-838E-6A4F7FE5A0F7
City Council Report | Rassner Scottsdale Library Endowment Allocation for FY 2026/27
RESOURCE IMPACTS
Available funding
This action will allocate up to $18,900 in endowment funds as recommended by the Library Board.
This amount was anticipated and included in the FY 2026/27 adopted Library Department's operating
budget in the Endowment Fund. The Rassner Memorial Scottsdale Library Endowment Fund held by
Arizona Community Foundation has a value of $498,313.14 as of June 30, 2026.
OPTIONS & STAFF RECOMMENDATION
Recommended Approach Option A
Adopt Resolution No. 13776 approving the distribution of up to $18,900 in interest income from the
, Rassner Memorial Scottsdale Library Endowment funds in accordance with the recommendations of
the Library Board. The distribution of interest income provides for library materials consistent with
the purpose of the endowment while holding the principal to earn interest income for future library
needs.
Description of Option B
Do not adopt Resolution No. 134776 which would result in the retention of interest income within
the account at the Arizona Community Foundation to generate funds for future awards.
Proposed NextSteps
Request a distribution of funds from the Arizona Community Foundation in accordance with the
recommendations of the Library Board and the approval of the Council.
RESPONSIBLE DEPARTMENT(S)
Library Department
STAFF CONTACT(S)
Kira Peters, Deputy City Manager, kipeters@scottsdaieaz.gov. 480-312-0104
Michael Beck, Library Director, mbeck@scGttsdaleaz.eov. 48G-312-2658
Page 2 of 3

Docusign Envelope ID: 3C338279-4BC0-8D9B-838E-6A4F7FE5A0F7
City Council Report | Rassner Scottsdale Library Endowment Allocation for FY 2026/27
APPROVED BY
-Signed by:
9/16/2026
■ 9Aa/^Q7R‘^/lF7AAai
Kira Peters, Deputy City Manager Date
(480) 312-0104, kipeters@scottsdaleaz.gov
-Signed by:
9/16/2026
dlA.
v.^8>11028DD3EAD4C9.
Greg Caton, City Manager Date
(480) 312-^7759, gcaton@scottsdaleaz.gov
ATTACHMENTS
1. Resolution No. 13776
Page 3 of 3

Docusign Envelope ID:'3C338279'4BC0-8D9B-838E-6A4F7FE5A0F7
I
RESOLUTION NO. 13776
A RESOLUTION OF THE COUNCIL OF THE CITY OF SCOTTSDALE,
MARICOPA COUNTY, ARIZONA, APPROVING THE DISTRIBUTION OF
UP TO $18,900 IN INTEREST INCOME FROM THE RASSNER
MEMORIAL SCOTTSDALE LIBRARY ENDOWMENT FUND FOR
FISCAL YEAR 2026/27 FOR THE PURCHASE OF BOOKS AND
LITERARY MATERIALS.
WHEREAS, the Rassner Memorial Scottsdale Library Endowment is managed and
administered by the Arizona Comrnunity Foundation to generate interest income to support City
of Scottsdale book and literary material purchases as set forth in Resolution 3204;
WHEREAS, the Library Board has been authorized and designated by the City Council to
make recommendations to the City Council concerning distributions from the Rassner Memorial
Scottsdale Library Endowment Fund, and the Library Board has made such recommendations;
WHEREAS, the City Council accepts the recommendations of the Library Board with the
exception that the City Council finds that it is appropriate that the monies be allocated fully to the
purchase of books and literary materials;
Now, THEREFORE, BE IT RESOLVED by the Council ofthe City of Scottsdale, Maricopa
County, Arizona, as follows:
Section 1. The recitals above are hereby incorporated as if fully set forth herein.
Section 2. The City Council hereby approves the distribution of interest income from the
Rassner Memorial Scottsdale Library Endowment Fund for Fiscal Year 2026/27 in the amount of
up to $18,900 to the Scottsdale Public Library to support the purchase of books and literary
materials consistent with the purpose of the endowment.
PASSED AND ADOPTED by the Council of the City of Scottsdale, Maricopa County,
Arizona this_____day of______________ , 2026.
CITY OF SCOTTSDALE, an Arizona
municipal corporation
ATTEST:
Lisa Borowsky, Mayor
Ben Lane, City Clerk
APPROVED/AS to FORM:
Z/n
^ Saritaella, Cit/Attorney
By: Je'nnifer Femandezr-Assistant City Attorney
19508366 Resolution No. 13776
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