Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Library Finance topic
No spam. Unsubscribe anytime.
Library finance update: state aid received, impact fees reported near $4.7 million across districts
Summary
Finance presentation showed the library has received $234,364 in state aid to date (two of four quarterly installments), spent $118,821 of that amount, reported nearly $1,000,000 in North/South impact-fee balances and about $4.7 million in total impact-fee holdings when old districts are included.
Amanda and Joe presented the library’s financial snapshot and special funds. They said the library has received two of four state-aid quarterly payments totaling $234,364 and that $118,821 of the received state aid has been spent on materials and digital subscriptions.
They described impact-fee balances by district: the consolidated North and South impact-fee districts together hold nearly $1,000,000; when balances from prior, smaller districts are included, the presentation showed roughly $4.7 million in total impact-fee funds across the library’s reporting districts. Amanda explained that county council’s earlier decision to consolidate impact-fee districts changed the reporting structure and that some legacy balances still appear in the account overview.
Year-to-date spending on materials was reported at nearly $300,000 (including about $7,000 from Friends groups), with the board told to expect larger invoices in the fourth quarter as lease plan renewals and popular-content licenses come due. Amanda said the library expects to approach a target near $1,000,000 in annual materials spending by year-end, subject to invoices that had not yet posted.
