Library fund and foundation support highlighted; foundation offsets capital costs for library programming

City staff briefed the council on the library and the supporting library foundation’s budget, emphasizing the foundation’s role funding programming and capital improvements.

Kofi Atobam said Fund 242 (library and observatory) is projected to have about $4.3 million in fund balance at the end of the current fiscal year and to remain in the multi‑million range through the two‑year plan as library programming and capital projects continue. Atobam said the library foundation (Fund 243), a 501(c)(3) that raises private money to support the library, is projected to have roughly $2.6 million in fund balance in the current fiscal year and that foundation funds are budgeted to cover collection purchases and some capital improvements.

Staff noted library programming — astronomy experiences, STEM tours, youth theater, and summer reading — are budgeted to continue and that $15,000 is set aside in the first budget year to mark the library’s 30th anniversary in the current facility. Council members and staff praised the foundation’s contribution and noted that without the foundation an estimated $500,000 a year in fundraising would be absent and would quickly erode library reserves if the city had to replace that support.

The council acknowledged the foundation’s ongoing role and staff said capital improvements for the library will be funded from a mix of the library fund and foundation proceeds as planned. No formal budget action was taken at the study session; staff will include library fund projections in the preliminary budget package for June review.