Title
a. Authorize the release of $394,000 from the Libraries' Fund Balance (003) to be used by County of Resource Management Agency Public Works on behalf of MCFL to fund two projects: $258,000 to augment the unfunded amount for the ongoing San Lucas Library project, and $136,000 to fund the Big Sur Library repair project (4/5th vote required); and
b. Authorize the Auditor-Controller to transfer $394,000 from the Libraries' Fund Balance (003) as follows:
1. $258,000 to Resource Management Account 401-3000-8184-5980-RMA004, Program Code 8548, for the San Lucas Library project; and
2. $136,000 to Library Fund Balance Account 003, Dept. 6110, Unit 8141, Object 5940, fund to increase estimated revenue and appropriation by $136,000, for the Big Sur Repair project. (4/5th vote required)
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Authorize the release of $394,000 from the Libraries' Fund Balance (003) to be used by County of Resource Management Agency Public Works on behalf of MCFL to fund two projects: $258,000 to augment the unfunded amount for the ongoing San Lucas Library project, and $136,000 to fund the Big Sur Library repair project (4/5th vote required); and
b. Authorize the Auditor-Controller to transfer $394,000 from the Libraries' Fund Balance (003) as follows:
1. $258,000 to Resource Management Account 401-3000-8184-5980-RMA004, Program Code 8548, for the San Lucas Library project; and
2. $136,000 to Library Fund Balance Account 003, Dept. 6110, Unit 8141, Object 5940, fund to increase estimated revenue and appropriation by $136,000, for the Big Sur Repair project.
(4/5th vote required)
SUMMARY/DISCUSSION:
Monterey County Free Libraries Fund is a non-general fund contribution account which over the years has built up a positive fund balance of approximately $1,224,476. MCFL is requesting to transfer $394,000 from this account to fund facility projects at two Library locations, leaving a remaining...
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