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 in a discrepancy of $445,753.00 on the total expense appropriation.
The total over expenditure for FY 2015-16 is $120,000.00. The discrepancy of $445,753.00 (object 7301) plus $21,541.54 (of the Big Sur repair expenses) plus $68,458.46 (of the Greenfield repair expense) amounts to $535,753.00.
$415,753 of this overage will be paid for by current budget appropriation. $120,000 is needed to make up the difference.
OTHER AGENCY INVOLVEMENT:
The proposed action has been reviewed and the recommendations are made in collaboration with the Auditor Controller’s Office. County Counsel reviewed this report. No other agency is involved.
FINANCING:
The source of financing for this transfer is the Library Fund Balance. Following this recommended action, the remaining Fund Balance will be $957,000.00. There is no impact to the General Fund as a result of this action.
Prepared by:
Jacqueline C. Bleisch
Administrative Services Assistant
(831) 883-7569
Approved by:
Jayanti G. Addleman
Library Director
(831)883-7566