At their Tuesday evening meeting this week, the Library Board transferred $750,000 from operating funds to reserve and catastrophic fund accounts. They also updated its Food & Drink Policy in the first meeting in months with a full complement of Library Board members participating. Rick Sebastian has been sidelined with a health issue for several months, but was able to participate via phone during Tuesday’s meeting.
The treasurer’s report for April 2017 showed Year-to-Date income at $937,091 compared to the budget figure of $1,283,056. Overall expenditures are at $634,434 compared to the budgeted $1,283,056. The fiscal year ends September 30, 2017.
Library Director Leroy Hommerding asked the board to approve the transfer of $400,000 from the operating budget to the building replacement reserve fund; and $350,000 from the operating checking into the catastrophic fund. He said that the library did not even have any reserves until 2006. The goal, he explained, was to have enough in the catastrophic fund so the library is able to totally fund their own insurance. The board approved the transfer unanimously.
“When Hurricane Charley came through, our maximum benefit was $200,000 with a deductible of $35,000,” he said. “The Library’s losses from Charley were $32,000. If we are ever placed in that position again, we’ll have the catastrophic fund.”
The existing food policy was clarified to explain what the library allows in the way of eating and drinking in the library and will give library staff some specific guidelines to share with library patrons.
The Knotty Bean Coffee Bar is expected to open on the library 3rd floor on June 15th. Summer hours will be 9am-noon.
During the Director’s Report, Hommerding reported that the library has received State Aid of $29,586, more than was expected. He also noted that April showed 1488 uses of Wi-Fi and 1307 Internet users. The Community room remains active with 24 adult programs with 301 participants. There were 7 children’s programs with 114 participants.
The next Library Board meeting will be held on June 27, 2017 at 6:30pm in the 3rd floor Community Room. The public is welcome to attend.