Board of Library Trustees (BOLT) Finance Committee August 20, 2020

Minutes
Board of Library Trustees (BOLT)
Finance Committee
August 20, 2020
1:30PM
Zoom virtual meeting

Committee Members Present:
 
Matt Swanson, Committee Chair
Steve Eagerton, Trustee
Celia Nass, Trustee
Virginia Berg, Trustee
Carlo Fassi, BOLT Chair, Ex Officio
 

Committee Members Absent:
Mario Payne, Trustee

Others in Attendance:
 
Tim Rogers, Library Director
Tristan Denmark, Clerk of the Bolt
Chuck McNeil, 
Gretchen Mitchell, Deputy Director of Support Services
 

Call to Order
Committee Chair Matt Swanson called the meeting to order at 1:32pm with a quorum present. He thanked everyone for being present at the meeting.

First Call for Public Comment
No hands were raised for public comment.

Finance Committee Minutes
Chair Swanson asked for a motion to approve the minutes of the July Finance Committee meeting. Trustee Nass motioned and Trustee Eagerton seconded the motion; Trustees Eagerton, Nass and Berg, as well as Chair Swanson, all voted yea. The motion to approve the minutes of the July Finance Committee meeting passed unanimously.

4a. Monthly Financial Report: July 2020
Chair Swanson ceded the floor to Director Rogers to review the July 2020 Finance Report. Director Rogers briefly reviewed the report, along with mentioning that additional detail has been added. He pointed out that the narrative portion of the report was not included in the agenda packet, so the Clerk of the Bolt shared her screen to allow it to be viewed. Finance Director Chuck McNeil discussed the July 2020 Finance Report, and Director Rogers gave some additional clarification after Chuck finished. Chair Swanson asked if there was an indication that our state funding might be affected due to COVID; Chuck said he has not heard anything to that effect. Gretchen Mitchell clarified that we have already received our state aid funding this year; we have. Director Rogers mentioned that we will likely need to lobby our state legislators hard this year, as they will probably be looking to cut monies. It will probably not affect us in FY2021 or FY2022, but in FY2023.

4b. Request to Reallocate FY2021 Funds
Gretchen presented the agenda item request to reallocate FY2021 funds. She explained that they have identified $405k in salaries that will not be spent that they would like to take to the City and move it into materials, particularly digital items. There is also $132k in several general fund accounts and they would like to spend $80k of it to replace the carpet, computer tables and chairs at the Graham branch, and $15k for staff training on management coaching. There is approximately $30-40k they are finalizing a use for; the plan it to use it to help our public and promote our collections. Director Rogers gave additional detail on each of these items. 

Chair Swanson asked for a motion to approve the recommendation to reallocate FY2021 funds as described by Director Rogers and Deputy Director Mitchell. Trustee Eagerton motioned and Trustee Berg seconded the motion; Trustees Eagerton, Nass and Berg, as well as Chair Swanson, all voted yea. The motion to approve the recommendation to reallocate FY2021 funds as described by Director Rogers and Deputy Director Mitchell passed unanimously.
    
Second Call for Public Comment
No hands were raised for public comment.

Adjournment
The meeting was adjourned at 1:57pm.
 

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