Littleton Conservation Trust

“Policy summary: goal to monitor each cr minimally once per year, with the landowner (if possible) for the purposes of maintaining good relations and to engage in discussions on future uses which could impact established terms and conditions. Any noted infractions lct will work with the landowner to resolve. Any compelling changes are to be documented in a memorandum of understanding. When cr is accepted by the lct, the goal is to recieve adequate funding for the ongoing stewardship/enforcement.”

“Conservation restrictions donated to lct have no market value to the organization and are not considered support. Accordingly, no entry is made when a restriction is received. Costs to inspect and maintain the restrictions and conservation lands are material and are recorded as stewardship expenses.”

“Lct does not record conservation land in its balance sheet or p&l since it qualifies as a collection that is held for public exhibition, education and reserach in futherance of public service rather than financial gain. It is protected, kept unencumbered, cared for and preserved.”

“Lct is a voluntary organization, receiving support from individuals, businesses and others, committed to protect and preserve littleton's water, plants and wildlife resources for the benefit of present and future generations of its residents. Its mission is carried out through land acquisition and stewardship in partnership with landowners and the town of littleton. Crs and fee interests are the main reason for our existence and must be cared for and maintained. Under gaap, collections (fee interests and crs) do not have to be capitalized because the maintenance standards and that the fee interests will never be sold, the interests are really liabilities to the organization regardless of the amounts deducted on donors tax returns when they make a contribuition.”