Finance committee accepts recommendation to accept Zimmerman Living Trust donation to KANW and grant signatory authority
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Summary
APS staff presented a donation from the Zimmerman Living Trust to KANW; the trust property is being liquidated and APS is a 50% beneficiary of the proceeds to support KANW. The committee recommended the donation for the consent agenda.
The finance committee reviewed a donation to KANW Radio originating from the Zimmerman Living Trust and recommended acceptance of the gift and delegated signatory authority to complete required documents.
Mr. Turnbull told the committee that the Zimmerman Living Trust property was donated to KANW and that APS is a 50% beneficiary of the trust proceeds; the board authorization is needed because the donation exceeds $5,000 and the entity is associated with the district.
When asked for more detail, Mr. Turnbull said Mary Zimmerman had long supported KANW and the trust gift was consistent with prior donations. He also explained that KANW must file financial statements with the Corporation for Public Broadcasting and that the station is considered an APS entity for the purposes of board oversight.
The committee had no further questions and included the donation and signatory authority in its recommended consent agenda to the full board.