Pending Library Board Approval at the June 24, 2026 meeting
Minutes Prepared By: Colin Bird-Martinez, Library Board Trustee
Call to Order and Roll Call
The Finance Committee called the meeting to order at 6:10 pm.
Present: Annie Wilkinson (Board Trustee, Advocacy Chair), Colin Bird-Martinez (Board Trustee, Finance Chair), Megan Butman (Board Trustee, Governance Chair), Billy Treece (Director of Finance & Human Resources), Elsworth Carman (Executive Director)
Public Comments
There were no public comments received in writing or in person for the meeting.
April 2026 Available Cash
- April cash position is generally close to where expected.
- Staff are preparing for delays in property tax installments due to delays in tax bill distribution.
- Cook County has paused all disbursements after April 1, 2026.
- Approximately 80% of the expected first installment has been received.
- Collection adjustments are contributing to the delay.
- Unknowns remain regarding:
- Timing of the remaining 20% of the first installment
- Length of delay for the second installment
- Current cash on hand is projected to sustain operations through approximately December–January.
April 2026 Statement of Revenue and Expenditure
- Revenue and expenditure reports will continue to show property tax reporting unadjusted.
- Audit reporting will instead reflect those revenues as second installment revenue for the prior year, per audit treatment.
Review of Required Monthly Financial Reports
The board discussed:
- ADA compliance requirements related to posting financial documents.
- Posting requirements for:
- Fiscal reports
- Bank reconciliation reports
- Cash disbursement reports
Possible reporting changes discussed:
- Reducing reporting frequency for some items.
- Possible elimination of regular posting of:
- Bank reconciliation reports
- Cash disbursement reports
Adjournment
The meeting was adjourned at 6:54 pm.