Library Minutes 2011 08-08-11 (Finance Committee)
Minutes
Yorkville Public Library
Finance Committee Meeting
Monday, August 8, 2011
6:00 P.M.
Yorkville Public Library
902 Game Farm Road
Yorkville, IL
Call to Order:
The meeting was called to order at 6:00 p.m.
Board Members Present:
Sandy Lindblom Bob Allen
Barb Johnson Carol LaChance
Jo Ann Gryder Susan Chacon
Beth Gambro Judy Somerlot
Gail Gaebler
Others Present:
Michelle Pfister, Library Director
Carlo Colosimo, Ward 1 Alderman
Rob Fredrickson, Finance Director
Public Comment:
None
Business:
1.Budget Review
The committee reviewed the budget report in the packet. Finance Director Fredrickson
noted the new format of the report to be consistent among all City departments.
The library budget is divided into three funds. Fund 82 is Operations, Fund 83 is for Debt
Service, and Fund 84 is for Development Fees. Expenditures have been greatly reduced
in comparison to last year. The library receives most of their revenue at the beginning of
the year so they must be diligent in pacing their expenditures accordingly.
There was a timing issue when the City Council initially approved the City budget and
the incorrect Library budget was approved. The City budget has since been revised to
reflect the correct Library budget as adopted by the Library Board.
The committee briefly discussed the potential budgetary effects of changing the library’s
hours, including being open on Sundays.
The committee spent some time discussing the tax levy. The current levy is .12. The
maximum the library can request is .15. The committee discussed the tax cap and the pros
and cons of requesting the maximum.
The committee discussed development impact fees that are paid to the library. Alderman
Colosimo explained that the City is exploring the possibility of reducing impact fees to
spur development in the City. Yorkville’s impact fees are currently higher than
neighboring towns. The City Council would like the library impact fee lowered from
$500 to $400. The board is reluctant to commit without knowing if other groups will also
be lowering their impact fees.
Adjournment:
The meeting was adjourned.
Minutes submitted by:
Meghan Ostreko