Re: Grants in Aid
Several years ago a tri-municipal committee was struck to better manage municipal grants-in-aid (re: Peninsula News Review editorial of Friday, Sept. 20).
The outcome of the committee’s deliberations was The Saanich Peninsula Foundation. Over the past 12 years the Foundation has dispensed many thousands of dollars to non-profit agencies operating on the Saanich Peninsula.
The funding is the interest generated by a capital fund of currently $400,000, donated by municipalities and residents on the Saanich Peninsula.
The Foundation is managed by a completely volunteer Board of Directors, who cost the community nothing.
All three municipalities could save money and avoid the taint of partisanship by donating to the Foundation Capital Fund rather than supporting individual requests from Peninsula charitable organizations.
For example, a capital fund of two million dollars would generate approx. $100,000 interest, which is about what the three municipalities allocate in grants-in-aid now.
The Saanich Peninsula is one of Canada’s wealthiest districts, very capable of generating a $2 million fund. Just think – once established, it goes on giving forever!