June 2010 Work Session

Wednesday, June 9, 2010
Meeting Room 1B

Attendance
Dave Ferguson, Steve Moberly, Melissa Pogue, and John Walsh.
Absent
Kari Isaacson, Randy Paul, and Fred Risinger.
Staff
Steve Backs, Pat Combs, Bonnie Estell, Sara Laughlin, Bara Swinson, and Michael White.
Others

Tom Bunger.

Call to Order

Secretary Melissa Pogue called the meeting to order at 5:50 p.m.

Resolution to Permit Transfer of Library Improvement and Reserve Fund to the Operating, Debt Service, and Library Capital Projects Funds

Bonnie Estell presented a resolution to permit transfer of funds from the Library Improvement and Reserve Fund (LIRF) to the Operating, Debt Service, and Library Capital Projects Funds.  This resolution permits the transfer of $1,000,000 to cover any temporary fund deficits in the event that the June 30, 2010 property tax settlement is not received in a timely manner.  All transfers will be reversed upon receipt of the tax settlement.

For the viewing public, Steve Moberly clarified that the tax settlement is the disbursement by the Monroe County Auditor of property taxes payable May 10, 2010.   Dave Ferguson added that the resolution would allow an interest-free loan from one library fund to another.

2011 Budget Timeline and Priorities

Sara Laughlin reviewed the 2011 budget timeline (in packet).  The library will begin on detailed budgeting in July, after the June 30 fund balances and the Assessed Value Growth Quotient (AVGQ) are known.  AVGQ should be published by July 15.  The board will have the July and August work sessions to discuss the budget and will approve a budget for advertising at the August 18 board meeting.  The library public hearing for the budget will be on September 15 and final adoption of the budget will be at the October 27 board meeting.

Bonnie Estell attended a Department of Local Government Finance (DLGF) budget workshop recently.  Steve Moberly asked whether DLGF had given any indication of expected change in the AVGQ.  Bonnie said the question had been raised, but DLGF did not commit.

Sara Laughlin presented “Budget: 2011 and Beyond,” a slide presentation that was presented to managers and staff in April.  The presentation outlined sources of revenue, core services, and budget priorities for the library and included a three-tier cost containment plan.

The board discussed various aspects of the presentation and the budget.

Public Comment

None.

Adjournment

Meeting adjourned at 6:35 p.m.