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Finance chair reports record materials spending and healthy capital reserves
Summary
The library finance chair presented year‑end figures reporting roughly $4.7 million in total funds (with encumbrances), about $925,000 spent on materials this year—52% going to Hoopla—and a FY25 materials budget target around $900,000 to $1,000,000 combined with state aid.
The finance chair presented a year‑end financial overview showing state aid lottery receipts of approximately $421,000, recent receipts of about $71,000 since the previous meeting, and a single reported expenditure in the current reporting period of roughly $55,000 for Port Royal branch work.
He reported total impact‑fee balances and related encumbrances of about $4.7 million, with roughly $800,000 identified as encumbered for specific projects such as May…
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