Pending Library Board Approval at the June 24, 2026 meeting
Minutes Prepared By: Annie Wilkinson, Library Board Finance Officer
Call to Order and Roll Call
The Finance Committee called the meeting to order at 4:05 pm.
Present: Annie Wilkinson (Board Trustee, Finance Chair), Colin Bird-Martinez (Board Vice President), Megan Butman (Board Trustee), Mika Yamamoto (Board Secretary), Billy Treece (Director of Finance & Human Resources), Elsworth Carman (Executive Director)
Public commentators: none
Public Comments
There were no public comments received in writing or in person for the meeting.
May 2026 Available Cash
Available cash is on track with approximately $8 million, representing roughly eight months of operating costs. Current projections indicate sufficient reserves through the fall, with increased cash flow pressures in November and December, dependent upon whether Cook County will meet its disbursement schedule on time this year.
The Committee discussed these ongoing Cook County property tax disbursement delays, which are affecting libraries countywide. The first installment billing date has moved to October 1. Staff noted that OPPL has contributed data to a broader library coalition effort and has participated in RAILS-convened meetings on the issue. The library is staying engaged with the coalition and will continue to monitor for updates.
May 2026 Statement of Revenue and Expenditure
Revenue in May and June will appear inflated due to the prior receipt of last year’s second installment and most of this year’s first installment. The library has received most of what was disbursed by Cook County as of April 1 but has not received subsequent disbursements; the County is working through correction adjustments with no confirmed timeline for resolution. The tuckpoint project begins next week.
FY2027 Budget Strategy
The Committee discussed the library’s path toward a balanced budget across both operational and capital spending. Budget pressures include a projected 20% increase in healthcare costs and staff salary increases. Capital project spending may be reduced in the near term given the Strategic Facilities Plan timeline. The library is adopting a modified zero-based budgeted strategy starting this year which will support sound budgeting.
Illinois Compiled Statutes Reporting Requirements
The Committee discussed the library’s obligation to submit projected levy information to the Village. Director Carman will submit the library’s IPLAR report (Illinois Public Library Annual Report, the standardized annual reporting form for public libraries in Illinois) in writing by July or August, as the Village begins Truth in Taxation reporting in August. The Committee also noted that the village has hired a new Finance Officer, with whom library leadership will schedule an introductory meeting.
Adjournment
Next Finance Committee meeting will be held Wednesday, July 15, 2026, 5:30 pm. The meeting was adjourned.