Associate Director Nieman informed the Board that the financial documents distributed this evening are marked pre-audit. The auditors are expected to begin the audit process by the end of August. He anticipates only minor adjustments to the June financials.
He reported June showed unrestricted cash balance just over $7.8 million. Tax receipts just over $11.2 million, reflecting 99.6% of the budgeted amount, have been received. The Fund Balance reflects just over $7.8 million.
He also noted that tax refunds are usually budgeted at $50,000 annually. This year refunds to different municipalities have exceeded $190,000. Tax tribunal appeals generated the majority of these refunds.
11-118 X. APPROVAL OF DISBURSEMENTS
(Item of action)
Secretary Barney Newman, supported by Trustee Kaplan, moved to approve the June disbursements.
Director Parker reviewed her written report noting that Laura Pershin Raynor received the Ann Arbor Book Festival “Leaders in Literature Award”. She also acknowledged Tim Grimes involvement in an NEH Bridging Cultures: The Muslim Worlds initiative. Due to his participation AADL has been chosen as one of six libraries across the country to conduct focus groups in creation of the bridging cultures bookshelf on the Muslim culture.
Director Parker announced that Trustee Ed Surovell will be awarded Michigan Library Association’s 2011 Trustee Citation of Merit at the Association’s award banquet in October.
11-120 XII. NEW BUSINESS
11-121 A. VOTE FOR EXECUTIVE SESSION AT THE AUGUST 15, 2011 REGULAR MEETING FOR LABOR NEGOTIATION AND OPINION OF LEGAL COUNSEL
(Item of action)
Roll call vote
Trustee Head, supported by Secretary Barney Newman, moved to hold an Executive Session at the August 15, 2011 regular Board meeting for labor negotiation and opinion of legal counsel.