Pool Construction Fund

Purpose:

The Pool Construction Fund is a restricted fund established to receive and manage donations designated exclusively for the direct expenses associated with the planning, construction, and completion of a new swimming pool facility. This includes, but is not limited to: architectural and engineering services, site preparation, construction materials and labor, permits, inspections, and other necessary infrastructure directly related to the pool project. These funds are intended to supplement funds raised by Hood River Valley Parks and Recreation District. 

Restriction of Use:

Funds contributed to the Pool Construction Fund shall be used solely for the aforementioned purposes and shall not be used for unrelated organizational operations, programs, or administrative costs not directly associated with the pool construction. Any interest or investment income earned by the fund shall be retained within the fund and applied toward its restricted purpose. The Foundation's board-approved fund administration fee may be assessed on any donation into the account. 

Surplus Funds:

In the event that the project is completed under budget, or if the project becomes unfeasible, any remaining funds shall be used for capital improvements or facility upgrades consistent with the original intent of enhancing aquatic programming or infrastructure, subject to Foundation board approval and in accordance with donor intent, where applicable.