Silent movie star William S. Hart continues to provide for the County even though he died in 1946.
Wendy L. Wantanabe, Los Angeles County Auditor-Controller has requested $10 thousand dollars in principal be taken from the Hart Endowment and Income funds.
“The $10,000 is an annual allocation from the estate of William S. Hart and is allocated specifically for recreation programs and maintenance costs at William S. Hart Park,” said Tony Bell, Communications Deputy for 5th District Supervisor Michael Antonovich.
Another $2,972 in interest will be transferred as well.
Don’t miss a thing. Get breaking news alerts delivered right to your inbox.
Every year the Los Angeles County Board of Supervisors must approve the annual financial statement of the Hart Endowment and Income funds and file them with the County Clerk.
On June 15, 2004, the Board authorized the use of up to $10,000 annually from the William S. Hart endowment principal. On Tuesday, the County Auditor-Controller is recommending the Board approve the withdrawal of the annual maximum amount of $10,000.
Last year, the maximum $10,000 dollars was moved along with $3,656 in interest.
The Endowment Trust now stands at $200,210.