Lake Forest Library Board of Trustees

Lake Forest Library Board of Trustees

Finance Committee Meeting

March 6, 2007

6:30 pm

Minutes

Present: W. Duncan, President; J. Garrett, Treasurer; R. Plandowski and E. Young, Trustees; K. Grabbe, Administrative Librarian.

K. Grabbe distributed final audit documents for 2005 and 2006; copies will be distributed to the other Trustees at the March Board meeting.

The Committee met to discuss the Library Budget for FY2008. Packets were mailed to the Committee. After discussion, the Committee agreed to recommend to the full Board at the March 13 Board meeting that the Draft Budget FY2008 be approved.

The increase in the Operating Budget is 6.7%, with the largest increases for materials (print, AV and electronic) and automation costs: leasing computer equipment, and maintaining and upgrading our software which manages circulation and on line catalog databases.

The Capital Budget includes renovation of the Children’s Library and installation of a CCTV security system, items in the Long Range Plan.

Respectfully submitted,

Kaye Grabbe,

Secretary Pro Tem