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Finance chair: state aid up, impact-fee balance about $5.4 million; system underspent year-to-date
Summary
Joe Bogaaz, finance committee chair, reported the library received $257,000 in state aid (about $50,000 more than last year), has approximately $5.4 million in impact fees with $2.4 million encumbered, and is about 29% through budget spending year-to-date.
Joe Bogaaz, the finance committee chair, presented the committees fiscal report and described the system as "underspent" relative to budget, noting combined spending is about 29% of the budget a third of the way through the fiscal year.
Bogaaz said the first semiannual state-aid installment of $257,000 was received, about $50,000 more than the prior year, leaving a carryover balance of approximately $252,000. On impact fees, he said the system has roughly $5,400,000 in balance, with about $2,400,000 encumbered for known obligations and about $3,000,000 unaddressed for future projects; the reporting period included only about $45,000 in new impact-fee receipts.
On materials and digital services, the chair reported about $194,100 in materials expenditures so far this year with about $147,000 of that spent on Hoopla, and said the full-year materials budget is on track for a little more than $1,000,000.
Trustees asked clarifying questions about timing and encumbrances; no formal fiscal action was taken during the report.
Provenance: Finance committee report, SEG 427—SEG 552.
