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1 July 11, 2008 FUNDING COMMITTEE MINUTES Present: Dave Ward, Chair; Shoots Veis, City Council Member; Lloyd Mickelson and Shari Nault Pullar, Library Board; Bill Cochran, Library Director; Pat Weber, City of Billings Financial Services Manager; Ann Miller, Community Advocate; Sandy Raymond Library Senior Administrative Coordinator Operational Funding vs. capital funding Cochran reported that the Library’s operational funding is relatively stable right now but could change if capital expenditures were required to keep the facility operational. Traditional/current tools for operational and capital funding Weber advised the group of the status of the general fund, which is spending down its reserves. Previous legislative sessions have not been favorable for cities, and the costs of operation are going up because of increases in salaries, insurance, fuel and utilities. More comprehensive/proactive tools • Public Library District – Montana State Library Public Library District Handbook Cochran provided information from the Montana State Library on Public Library Districts. They require voter approval. Veis asked if the Library would be allowed to issue bonds for capital projects under this scenario. Cochran and Weber committed to finding the answer. • Voted mill levy increase large enough to cover both capital projects & inflationary increases in operating costs Weber reported on the Public Safety Levy and how the proceeds were used to fund a new fire station at a cost of $2.1 million. Veis and Weber reported that because a new library building would be so much more costly than the fire station, relative to the size of the levy needed, it wouldn’t likely be possible use a levy to build a new library building. • County levy on City residents per discussion at first meeting Cochran explained that 3 mill on rural property comes from the County and is approximately $600,000 per year. The County can increase, or” float” its mill each year, but the City can’t, due to the City Charter. • Foundation and other private fundraising Foundation and other private funding is typical for libraries and is a community expectation, as it was with Dehler Park. • Other ideas Lease a property from a third party developer and/or lease the current facility to help fund rent elsewhere. ---PAGE BREAK--- 2 Schedule joint meeting with Facilities Committee A meeting will be scheduled. Adjournment.