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Treasurer reports February finances: revenue low pending property-tax receipts; expenditures favorable year-to-date
Summary
Library finance staff told trustees the system has received only a small portion of its budgeted revenue ahead of property-tax receipts; expenditures are below prorated expectations and the treasurer's report for February was accepted by the board.
Finance staff presented the treasurer’s report for February 2025 and the board voted to accept the report.
Finance staff said the library had received roughly 2% of its annual budget as of February because the bulk of property-tax revenue arrives in April and May. Intergovernmental revenue was described as coming in consistently and on target. Charges for services were about $43,000–$44,000 for the month, with public printing representing about 32.4% of that line. Miscellaneous revenue for the month included interest income—$136,000 of the $145,000 miscellaneous total for February.
On expenditures, staff reported year-to-date spending at about 14% of budget versus an expected prorated 17%, which they characterized as favorable. Personnel costs are the largest category, making up about 45% of expenditures and running at roughly 16% of the budget. Staff noted a labeling mistake on a slide ("facility" should read "supplies" and "operation" should read "other services").
Trustees moved and approved acceptance of the treasurer’s report by roll call.
