How do you fit five gallons into a three gallon bucket?
That is the question facing library staff today. They are brainstorming yet again on how to use the space we have more effectively. Of course, there are major budget constraints on the brainstorming.
The same Special Reserve Fund that is used for capital expenditures like renovations, purchase of property and new computers, is also the only source of emergency funds (like for last year's replacement of an HVAC unit). The library is contracted to purchase the Route 59 parking lot from the Village of Plainfield in 2010, so some of it is earmarked for that purpose. The main source of revenue for this fund is impact fees from developers - of which there have been very few in the past year so it is not being replenished. In the past, the Board was able to transfer the remaining general fund balance into the Special Reserve Fund at the end of each year. However, double-digit cost increases in mandated funds like the Illinois Municipal Retirement Fund and liability insurance fund outstripping revenues, that general fund balance is now transferred to those funds to prevent deficits.
Staff is watching the bottom-line carefully as they discuss changes that would free up space and maintain or improve service.
Feel free to make suggestions - we're open to all ideas during this process.
Stay tuned for announcements of changes ahead!