HomeMy WebLinkAboutTR-34-82 WLSO«'L y,N(AYLEDGE,U,D L J �+Uv 17
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CORPORATION OF THE TOWN OF NEWCASTLE
q 40 TEMPERANCE STREET
BOWMANVILLE, ONTARIO
LiC3A6 TELEPHONE 623-3379
REPORT TO THE GENERAL PURPOSE AND ADMINISTRATION COMMITTEE MEETING HELD
ON JUNE 28, 19820
TR-34-82
SUBJECT: TOWN OF NEWCASTLE PUBLIC LIBRARY BOARD
1981 DEFICIT OF $32,742000
RECOMMENDATION:
It is respectfully recommended that:
1 . Committee discuss the matter of the 1981 deficit of the
library Board; and
2. Committe consider funding the 1981 deficit of the Library
Board in the following manner:
(a)$18,000.00 be drawn from account number 7608-X-00001-2
Town of Newcastle Public Library Grant - Capital .
(b)$14,742.00 be drawn from account number 2900-X-00001-8
Working Capital Reserve; and
3. Committee request that in meeting the deficit of the Library
Board that all outstanding accounts payable from 1980 and 1981
due to the Town of Newcastle from the Library Board be paid, as
they form part of the deficit.
. . . •/2
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TR-34-82
BACKGROUND AND COMMENT:
Upon finalization of the 1981 audit of the Town of Newcastle Public Library
Board, it was found that the Board was in a deficit position of $32,742.00.
This deficit is the responsibility of the Library Board, but as the Town is
its major funding source, the Town may choose to fund this deficit. If the
Town chooses not to fund the deficit, the Library Board will be required to
find the funds to meet this deficit by the end of 1982 through reductions
and/or deletions within its 1982 budget.
Committee will recall that when the deficit was discussed earlier this year,
it was noted that in the event the Library Board had to meet its deficit out
of their 1982 budget, without further assistance from the Town, this would
probably result in reduced library service levels.
It appears appropriate to staff that the 1981 deficit of $32,742.00 be funded
in the manner recommended, but that the Library Board be advised that it is the
responsibility of the Board to keep their expenditures within the established
budgetary limits. Budgetary control is the responsibility of the Board, not the
Town, and in future the Board should ensure that it is operating within the budget
established for the Library's activities.
Respectfully submitted,
Kathryn Campbell , C.A. , B.Com. ,
Treasurer.
KAC:gf
22 06 82
LB82-LB-2
newcastle public library board
62 temperance street,
bowmanville, ontario
L1C 3A8
TO: Kathryn Campbell
Town Treasurer
FROM: Barbara Schon
Secretary-Treasurer
DATE: 24 June, 1982
At a Special Meeting of the Library Board held on June 23, 1982,
the Board passed the following resolution:
THAT the Board formally requests additional funding in
the amount of $32,742• to cover the overrun in the 1981
expenditures of the Library Board as stated in the
Auditor's Report.
C-