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The committee unanimously approved the FY27 Company Budget for presentation to the full board. The meeting also noted a $14 million city deficit, a possible 20% reduction to the Borrow IT grant, a $50,000 pledge, and a $10,000 advance from the endowment awaiting repayment.
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The budget received committee approval but still must go to the full board. The committee discussed whether $24,755 in projected net income should partly go into reserves and whether the library’s audit should be conducted annually or every other year; no audit decision was made. Library Giving Day had raised $700 within its first few hours.
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