Laserfiche WebLink
P.1k River Public Library Board Page 2 <br /> Mair 23,2017 <br /> 4. Open Forum <br /> No visitors present. <br /> S. General Business <br /> 5.1 New Business <br /> 5.La CIP and Financial Discussion—Lori Ziemer, Finance Director <br /> Lori began by explaining that improvement projects and capital outlay <br /> needs are most commonly identified by Gary Lore and Tim Sevcik. <br /> When their requests are approved and costs determined, the CIP project <br /> is then incorporated into the budget. The city is now working on the <br /> 2018 budget. <br /> Q: The Board identified several items they would like to purchase for <br /> the library. What fund does this come from? <br /> A: Capital improvements and capital related items are funded from the <br /> Equity Fund Balance (reserves),with a current balance of <br /> $428,065.37. <br /> Q: Is there a minimum fund balance required by the state? <br /> A: No. <br /> Q: Does the library have any big projects coming up,like the roof,in the <br /> future? <br /> A: Not in the very near future. Gary will do an evaluation of the library <br /> next year. The library has a white roof which lasts a little longer than <br /> a regular roof. There are little projects here and there Gary is aware <br /> of. Michael noted the parking lot is also in pretty good shape. <br /> Q: How often is the parking lot seal-coated? <br /> A: The city doesn't seal-coat anymore; they crack seal only. The city <br /> engineer determined that seal coating actually holds in water because <br /> of the freeze/thaw cycle,which causes the asphalt to deteriorate <br /> faster. <br /> Councilman Ovall suggests the city educate the public on this <br /> information because they are probably not aware of this and they <br /> may think the city is not taking care of its parking lots. <br /> Q: Looking at the 2017 budget,it looks like we have anticipated revenue <br /> of$87,500 and total expenses of$97,500. Are we not expected to <br /> contribute positively to the reserve fund this year? <br /> kN; <br /> MURE <br />