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Agenda 09/08/2015 Item #16D 49/8/2015 16.D.4. EXECUTIVE SUMMARY Recommendation to recognize interest earnings from State Aid to Library Grants and approve a budget amendment in the amount of $854.61. OBJECTIVE: To recognize interest earned on advanced library funding received from the Florida Department of State in order to support library services and equipment for the use of Collier County residents. CONSIDERATIONS: Each year the Collier County Public Library is awarded funds through the State Aid to Library Grants. The most recent grant was approved by the Board on April 14, 2015 — Agenda item 16D1. These grants require the CCPL to provide the public with free library services, including loaning library materials and providing reference and information services. Funds are advanced and therefore accrue interest. The State allows for the rollover of unexpended funds until the funds are fully exhausted. Interest earnings may be used at the discretion of the County and are reinvested back into the County's Library System. The Board last approved recognizing interest earned on June 23, 2015 — Agenda item 16D7. Interest earned through June 30, 2015 requires recognition of interest earnings in the amount of $854.61. Staff is seeking Board approval to appropriate this interest earned in order to expend the funds in support of library operations and capital improvements. FISCAL IMPACT: Budget amendments are required to recognize a total of $854.61 for accrued interest within Public Services Match Fund 710, Project 33360. GROWTH MANAGEMENT IMPACT: None. LEGAL CONSIDERATIONS: This item has been reviewed by the County Attorney, is approved as to form and legality, and requires majority vote for approval. -JAK RECOMMENDATION: That the Board of County Commissioners approves the necessary budget amendments to appropriate interest earnings in the amount of $854.61. Prepared by: Tanya Williams, Assistant Library Director Packet Page -1559- 9/8/2015 16.D.4. COLLIER COUNTY Board of County Commissioners Item Number: 16.16.D.16.D.4. Item Summary: Recommendation to recognize interest earnings from State Aid to Library Grants and approve a budget amendment in the amount of $854.61. Meeting Date: 9/8/2015 Prepared By Name: TibbettsKaren Title: Administrative Assistant, Public Services Departme 8/5/2015 9:21:06 AM Submitted by Title: Assistant Division Director - Library, Public Services Department Name: WilliamsTanva 8/5/2015 9:21:07 AM Approved By Name: WilliamsTanva Title: Assistant Division Director - Library, Public Services Department Date: 8/5/2015 2:03:15 PM Name: TownsendAmanda Title: Division Director - Operations Support, Public Services Department Date: 8/17/2015 11:59:00 AM Name: AlonsoHailey Title: Operations Analyst, Public Services Department Date: 8/18/2015 2:06:45 PM Name: AlonsoHailey Title: Operations Analyst, Public Services Department Date: 8/18/2015 2:08:39 PM Name: KocinValerie Packet Page -1560- 9/8/2015 16.D.4. Title: Division Director - Library, Public Services Department Date: 8/21/2015 4:07:56 PM Name: KlatzkowJeff Title: County Attorney, Date: 8/21/2015 4:30:58 PM Name: Joshua Thomas Title: Grants Support Specialist, Grants Management Office Date: 8/24/2015 8:10:43 AM Name: CarnellSteve Title: Department Head - Public Services, Public Services Department Date: 8/24/2015 8:50:29 AM Name: KlatzkowJeff Title: County Attorney, Date: 8/24/2015 9:31:39 AM Name: StanleyTherese Title: Manager - Grants Compliance, Grants Management Office Date: 8/28/2015 10:56:23 AM Name: Casa] anguidaNick Title: Deputy County Manager, County Managers Office Date: 8/28/2015 1:19:34 PM Packet Page -1561-