 |
Bozeman Public Library Board of Trustees Special Meeting
Library Director’s Office
Bozeman Public Library
July 28, 2005
1:00 P.M.
ATTENDANCE
Trustees: Ron Farmer, Chair; Jerry Bancroft; Holly Brown; Wendy Lewis, Foundation Board Development Director; Lois Dissly, Staff; and Alice Meister, Director.
CALL TO ORDER
The special meeting was called to order at 1:15 p.m. by Chair Farmer.
ITEM FOR DISCUSSION: REPAYMENT PLAN FOR BRIDGE LOAN
Lewis asked Dissly for a list of computer equipment needed for the new Library in regard to a possible Cutthroat Communications donation. Discussion then ensued about the repayment plan for the bridge loan. Since the last Trustees meeting, Senator Max Baucus announced that the Library will be receiving $1,125,000 from the Highway Transportation Bill. These new financials show that the Library will only have a deficit of $120,685 in 2007 if the Foundation is successful in raising its additional $1,000,000 amount. Thus the Trustees will write a letter to City Manager Chris Kukulski asking him to rescind the hiring freeze based on the new financial situation. The Trustees are requesting approval from the City Commissioners to proceed with the sale of the current building and its intentions
regarding its purchase. Secondly, the Trustees need to know when the appraisal has been completed so that the one-acre piece of Library property can be sold. Also it needs direction from the City on the City/Library Lands Task Force recommendations and their implementation. Third, the Trustees need movement on the Controlled Allocation of Liability Act (CALA) process since Story Distributing Property is involved in this. Also there is a possibility of recouping funds for the project. Fourth, the Foundation has had an outstanding track record in raising funds, so the additional $1,000,000 commitment should be possible. The Library has already taken a 3.4% reduction from last year’s budget, and now another $35,000 is being taken in the form of a hiring freeze. The hiring freeze appears unnecessary and premature at this time, especially as the reduction of the library budget was the last resort in the initial repayment scheme. It
will have a negative impact on staff, donors, and the public. Also all expenses, not just staffing, would be under consideration if an amount to eliminate was known. The Trustees are responsible by state statute for the finances of the Library, and a decision as to how the annual expenses would need to be reduced to repay a bridge loan balance is their responsibility.
PUBLIC COMMENT
There was none.
ADJOURNMENT
The meeting was adjourned at 2:15 p.m. The next meeting will be August 25 at 4:00 p.m. in the Library Director’s Office.
| |
