Consent 1.J.
Regular City Council Meeting
- Meeting Date:
- 05/26/2015
- TITLE
- Library Foundation Donation to Library from Royal C. Johnson Community Room Campaign
- PRESENTED BY:
- Bill Cochran
- Department:
- Library
Presentation:
PROBLEM/ISSUE STATEMENT
The Billings Public Library Foundation conducted a capital campaign to raise funds for the naming rights to the Community Room in the new Library building, in honor of Foundation founder Royal C. Johnson. The successful campaign was celebrated by an Open House on Saturday, May 2, Mr. Johnson's 90th birthday. The Foundation is presenting a check for $25,000.00 to the Library as a result of the campaign. Per its adopted policy, the City Council must approve accepting any donation to the City which is over $500. The donation's use is unrestricted by the Foundation. Until the Library's reserve position is clarified by mediation or other processes to recover building project expenses that the Library is not responsible for, this donation will be received but not designated for expenditure.
ALTERNATIVES ANALYZED
City Council may:
- Approve and accept the donation, or;
- Disapprove the donation.
FINANCIAL IMPACT
If the donation is approved, the Library will realize $25,000.00 in unanticipated revenue.
RECOMMENDATION
Staff recommends that the City Council approve and accept the $25,000 donation from the Billings Public Library Foundation.