MEMORANDUM

TO:	Mayor and Town Council
FROM:	Kathy Thompson, Library Director Ken Pennoyer, Business Management Director
SUBJECT:	Budget Amendment for Collection Development Project
DATE:	May 4, 2009

PURPOSE

The attached budget ordinance would:

• Amend the library’s 2008-2009 General Fund operating budget by $61,000 to continue covering expenses associated with the library’s Collection Development Project. 
• Transfer $61,000 from the Library Gift Fund, the same amount donated by the Library Foundation to fund the Town’s Collection Development Project, to purchase collection items recommended in the Library’s Five-Year Services Plan.

DISCUSSION

Collection Development Project:   The Town’s 2006 Capital Improvements Program included a $305,000 multi-year Collection Development Project, funded by Library Foundation gifts ($250,000) and library gift funds ($55,000).  Collection development goals for are included in the Council’s adopted Library Master Plan. 

To date, the Town has received $98,000 from the Library Foundation toward this project.  Recently the Foundation received an anonymous donation of $150,000 to complete its commitment to this project, and we anticipate regular funding from the Foundation toward this goal through 2011.   

The attached budget ordinance would add $61,000, including the $36,000 donated by the Foundation in June 2008 and $25,000 for its next installment of funds through this fiscal year, to the current year’s operating budget for the Library.

RECOMMENDATION

We recommend that the Council enact the attached ordinance amending the 2008-2009 budget.