City to have less to distribute from Sitzler Fund this year

There won’t be as much in funds to distribute from the City of Holton’s Sitzler Fund this year, but members of the Holton City Commission noted that city residents in need during the holiday season would not be left out in the cold.

During the commission’s regular meeting on Monday, commissioners received the annual report on funds available for distribution from the fund, established by the estate of Holton resident Louise Sitzler, administered by Holton City Attorney Dennis White and made available to Holton residents who may have difficulty in keeping up their utility bill payments during the winter months.

The Sitzler Fund’s distribution to the city for this year totaled $1,440.62, according to White’s report — less than half as much as the $3,147.94 made available to the city for distribution last year — but Holton City Manager Kerwin McKee said that there is “still some opportunity to help some folks” with their utility bills.

Last year’s distribution total was higher because there were some extra funds that had not been allocated over a period of several years, Holton City Clerk Teresa Riley told commissioners. This year’s total was lower as a result of low interest rates, Riley added.

“Last year was a terrible year for interest,” she said.

Money available in the fund also declined slightly from year to year, according to White’s report, which showed the fund’s balance of $144,237.91 for this year was down from the $146,143.98 available in the fund at this time last year.

The fund was created in 1912 following the death of Holton resident Louise Sitzler, who had left the city a sizable donation estimated to be somewhere between $15,000 and $20,000 to be used to help “the poor” after her death. The donation was used to establish the “Louise Sitzler Trust Fund For The Needy,” it was reported.

The fund has grown over the years through private donations, the last two received in 2009 — memorial contributions of $10,000 from the estate of Mildred Francis and more than $32,000 from the estate of Charles “Shannon” Zibell. The fund includes monies deposited into two certificates of deposit, or CDs, and a money market account at Denison State Bank and a CD at GNBank, the report stated.

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