Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Reallocation topic
No spam. Unsubscribe anytime.
Board reallocates patron-printer revenue and older gift accounts; returns rebates to restricted energy fund
Summary
Trustees approved staff recommendations to return patron-printer revenue (~$101,000) to its restricted account, restore a MidAmerican energy rebate to the appropriate restricted account, and reallocate older Lyra/legacy gift funds (combined near $100,000) to the general gift fund.
The Davenport City Library Board approved reallocation of a set of gift and rebate accounts, returning two restricted amounts to their original restricted accounts and moving older, largely unused gift funds back to the general gift account.
Director Jeff told trustees the patron-use printer revenue has grown to approximately $101,000 and recommended returning it to the restricted account for printing operations. He also recommended returning a MidAmerican rebate to a restricted energy-efficiency account to fund conservation projects and reallocating older LYRASIS and other legacy gift accounts (which have been unused for years and total nearly $100,000) to the unrestricted general gift fund.
The recommendations were supported as a way to keep restricted funds available for their intended purposes (printing operations and energy-efficiency projects) while clearing dormant accounts into the general fund for active use. Trustees moved, seconded and recorded affirmative votes to approve the reallocations.
