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Library board proposes $150,000 capital reserve amid lease uncertainty
Summary
The Webster Public Library board preliminarily approved a budget that includes a proposed $150,000 capital reserve intended to smooth future building or lease costs; Director Adam Traub said the move reduces the library's year‑to‑year volatility.
Library Director Adam Traub presented the library’s preliminary 2027 budget, which the library board preliminarily approved. The largest single line in the increase is a proposed $150,000 capital reserve intended to offset future lease escalations or building costs when the current lease ends.
Traub said the reserve is intended to spread future capital outlays and "protect that investment so that it goes for the intended purpose," adding the library has been placing savings into fund balance since 2022. He emphasized the reserve would need ratification by the library board at its next meeting and that, absent the reserve, the library’s year‑to‑year increase would be about 3.3%.
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