North Canton Community Disaster Relief Fund
What is the North Canton Community Disaster Relief Fund?
The North Canton Community Disaster Relief Fund (NCCDRF) is a fund to assist citizens of the City of North Canton (with an immediate need) for expenses not normally covered by operating insurance after natural or man-made catastrophic disasters. Disasters within the scope of the North Canton Community Disaster Relief Fund are those natural occurrences (e.g., tornado, flood, fire, drought, sinkhole, hurricane, earthquake) or negligent, intentional or criminal acts of man, that cause catastrophic loss having a direct and substantial adverse financial impact on the citizens of North Canton. A local community declaration from city services (e.g., EMS, Fire, Police, Mayor) is conclusive proof that a local disaster has occurred within a defined geographic area.Funds will accumulate through voluntary donations primarily obtained by citizens checking off a box on an additional city tax form that states that they would like to donate $5.00 or more to the North Canton Community Disaster Relief Fund. Donations from private & corporate donors will also be accepted and will be tax deductible for that year.
How will it be maintained?
NCCDRF will be maintained by the North Canton City Finance Dept. and distributed by an approval of a community committee (NCCDRF Committee) appointed and overseen by a combined effort of both the North Canton City administration and council comprising of five city members
Management of assets.
Money or assets received for the North Canton Community Disaster Relief Fund will be invested until such time as it is needed for disaster relief. In order to provide quick response to needs which follow a disaster, assets will be kept in interest bearing accounts such as money market accounts, short term certificates of deposit, deposit accounts, or similar liquid arrangements. The trustees of the fund will have the responsibility to manage the investment of funds in a manner consistent with the investment policy of the NCCDRF. Both contributions and earnings on contributions will be available for distribution.