Capital Costs
Artist Fees & Casting Costs	$ 135,000
Artist Contingency	$ 13,500
Artist Sub Total Plus HST	$ 148,500
Artist Non-Recoverable HST	$ 2,614
Installation @ Jackson Park	$ 18,000
Contingency	$ 1,386
Total Funds Required	$ 170,500

You + Me Sculpture Funding Sources Available
Arts Endowment Fund - Capital Project (7179003)	2018	$ 41,250
	2019	$ 41,528
	2019	$ 61,722	Additional w ithdrawal
Sub-Total		$144,500
International Relations Committee	2013	$ 25,000
Korean Society	2013	$ 1,000
Total Funds Available		$ 170,500

Funding Sources

In 2018, Council directed that a formal Arts Endowment Fund be established and further that a minimum of 1.5% of the annual investment yield be placed in a capital project (Arts Endowment Capital project ID 7179003). The intent of the establishment of a separate capital project was to hold the annual minimum accumulation of investment income which could then be accessed as a funding source for future art related components of a City project. In other words, funds would be transferred out of the Arts Endowment Fund into a capital project which would accumulated until such time as there is an identified arts expenditure. To date, $41,250 was transferred in 2018, representing the minimum transfer of 1.5% of the 2018 investment yield and an additional $41,528 is expected to be transferred in 2019 representing again the