Title
Approval of the 2023 Mid-year Projection Report and Budget Amendments.
Body
Fiscal Note
The proposed budget amendments to the Library's 2023 Adopted Operating Budget adds $5,000 for Catering revenue that is over budget and the remaining transfers are a net $0 impact.
WHEREAS, the Library's mid-year projection report highlighted several budget overages and deficiencies, detailed in the supplementary report; and,
WHEREAS, transferring budget between Library's services, major expense categories and within major expense categories will align budget with projected actual expenses; and,
WHEREAS, Library's Catering Concessions revenue is currently over budget as of May 31, 2023, a budget amendment to increase this revenue, resulting in an offsetting increase to Library Central Facilities work supplies; and
WHEREAS, the proposed budget amendments result in a net $0 change to Library's 2023 Adopted Operating Budget.
NO THEREFORE BE IT RESOLVED, that the Madison Public Library Board amends the 2023 Operating Budget to authorize the suggested amendments in the supplementary report; and,
BE IT FURTHER RESOLVED, that the Library Board authorizes Library to amend the 2023 Operating Budget as detailed in the "Supp Notes to the 2023 Mid-Year Budget Projection" attached.