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Council approves $1.7M carryforward for library construction and closes Logan Memorial Trust Fund
Summary
Council approved transferring $1.7 million in construction expenditures into the current fiscal year for the library bond construction fund (No. 191) and closed the Logan Memorial Trust Fund, moving $10,900 into Fund 191; staff said the changes do not increase total project costs and the project remains on time and on budget.
City manager Spence told the council that construction accounting requires rolling certain charges into the current fiscal year and recommended amending Library Bond Construction Fund No. 191 to budget $1,700,000 for work performed after June 30. Spence said advertising and a public hearing were required because the change exceeded the 10% threshold under budget law. He also recommended transferring $10,900 from the Logan Memorial Trust Fund (Fund 412) into Fund 191, and proposed closing Fund 412.
Councilors asked whether these actions changed total project costs; staff said they did not and that the library remains on time and on budget. Library Director Suzanne Harrell confirmed with a short quip that “we are still on time and on budget.” The council moved and approved resolutions to close Fund 412, transfer the remaining balance to Fund 191, and adopt the supplemental budget for Fund 191.
