Willistead Capital Maintenance

On July 8, 2019, City Council approved that the Willistead Manor Capital Maintenance Reserve Fund balance be transferred to the Willistead Manor Capital Restoration Reserve Fund and that the Capital Maintenance Reserve Fund be closed. The Willistead Capital Maintenance Reserve Fund balance of $17,958 as at December 31, 2019 was therefore transferred to the Willistead Capital Restoration Reserve Fund at December 31, 2019.

Willistead Endowment Fund

In 2012, City Council approved the establishment of the Willistead Manor Endowment Fund. The fund is to be used exclusively, and in perpetuity, for the preservation, restoration, and capital improvement of Willistead Manor, and used for any means needed to achieve this purpose. It is intended that the fund be used for infrastructure projects. The minimum capital amount that must be preserved in the fund at all times is set at 50% of the receipted value of life to date contributions to the fund. As at December 31, 2019, the Willistead Endowment Fund has a fund balance of $25,903. The minimum capital balance that must be preserved in the fund as at December 31, 2019 is $12,278.