As many Rotarians know, District Grants and Global Grants are funded through a process known as District Designated Funds (DDF). This funding comes from the contributions to the Annual Fund that our members made three years ago, when we were Districts 7150, 7170 and 7190.
Three years later, fifty per cent of those funds, minus a small administrative fee, is returned to CNY Rotary as District Designated Funds. We then divide our DDF with half going to our District Grants and half going to the CNY Rotary World Fund. This fund is used to help sponsor Global Grants, the Rotary Peace Initiatives, any district contributions to Polio Plus as well as scholarships.
Usually, the funding process from The Rotary Foundation to the Districts occurs right after the new Rotary Year begins. But, of course, for CNY Rotary, this is a different year. Three districts merged into one. As a result, it took 38 days for the entire process to work. I know that some clubs are frustrated because projects are being delayed. Believe me, your CNY Rotary Foundation Committee worked continuously to get the final figures so we can all move ahead.
CNY Rotary received a total of $209,742.24 in district roll-over money. This included the DDF from 2021-2022 and any DDF left in the district accounts as of July 1, 2024. ($5,236.65). We also received 50% of the Available Endowment Fund Share Earnings from last year. This is a total of $9,886.41. The DDF money and Endowment Funds comes to $219,628.65.
Now, we have bills to pay. Since we have a new District, expenses that would have been paid by the former districts are now carried over to CNY Rotary in the 2024-2025 Rotary Year. These invoices totaled $82,700. All of this was for Global Grants written in the three former districts, but not billed until 2024 – 2025. This leaves us with $136,928.65.
From that figure, we subtract our District Grant total of $65,846. That same amount goes to the World Fund side of the CNY Rotary Foundation Account. The remaining $5,236.65 goes to the World Fund, as per TRF regulations. Adding $65,846 plus $65,846 plus $5,236.65 = $136, 928.65.
To summarize, as of today, our funds for District Grants are $65,846. While we have $71,082.65 in the World Fund account, we still have about $20,000 in possible polio plus donations and a newly awarded Global Grant that we need to fund. This leaves approximately $51,082.65 in the World Fund account for Global Grants, etc.
Our District Grants Subcommittee is working hard to finalize all of the district grant approvals so clubs can move forward. We hope to submit all of the grant awards to The Rotary Foundation by this weekend for their final approval. Please do not start your projects until you hear from us.
I want to thank all of the Rotary Foundation Committee members who have and will continue to help in this process. Clubs are encouraged to reach out to grants@cnyrotary.org if there are any questions.