Title
Approve and Authorize the Auditor Controller to complete the following actions:
a. Amend the FY 2015-16 Library adopted Budget, Appropriation Unit LIB 001, by increasing the total Expense appropriation by $120,000.00 to cover remaining, unexpected expenses incurred (4/5ths vote required).
b. Make an operating transfer in the amount of $120,000.00 out of the Library Fund Balance, as the funding source for the added appropriation (4/5ths vote required).
Report
RECOMMENDATION:
Approve and Authorize the Auditor Controller to complete the following actions:
a. Amend the FY 2015-16 Library adopted Budget, Appropriation Unit LIB 001, by increasing the total Expense appropriation by $120,000.00 to cover remaining, unexpected expenses incurred (4/5ths vote required).
b. Make an operating transfer in the amount of $120,000.00 out of the Library Fund Balance, as the funding source for the added appropriation (4/5ths vote required).
SUMMARY/DISCUSSION:
The Library Fund (003) is a non-General Fund. The Library maintains its own fund separate from the General County Fund. The Library Fund Balance on record is $1,077,000.00.
The Library Budget of FY 2015-2016 incurred unexpected expenses due to the following:
1. Discovery of mold at the Big Sur Library with attendant testing, remediation, and abatement costs. Additional costs were incurred to move and store books. Other supplemental project costs were incurred during FY 2015-16. Total cost incurred is $21,541.54
2. The Greenfield Library was vandalized two months before FY 2015-16 budget closing, causing fire damage. A side area of the library had to be repaired immediately, including supplemental job order contracts to replace the irrigation system, which was destroyed by the fire, and partial wall and roof replacements. Total cost is $68,458.46.
3. Cost plan charges (object 7301) were originally budgeted at $500,000.00. Actual Cost plan charges was determined to be in the amount of $945,753.00 resulting i...
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