Attention: All buildings will close at 5 pm on Wednesday, November 26 and all day Thursday, November 27 for the Thanksgiving holiday. Normal hours will resume on Friday, November 28. Always open @oppl.org.

Library Board approved April 19, 2006

  1. Library funds not included in the General Fund (Operating Fund) or special purpose funds such as the Art Fund, Building Fund or Petty Cash Fund are referred to as un-appropriated funds. 
  1. The un-appropriated fund balance serves three purposed:
  1. It provides working cash buffer to fund library operations prior to receipt of tax collections and when property tax collections are delayed.

  1. It serves as a funding source for major capital purchases, major automated system upgrades and other one time capital expenditures.

  1. It serves as a building fund / opportunity fund.  Major building system upgrades such as the branch library renovations and opportunities such as the down payment for the 1992 purchase of the Grove Avenue property for main library expansion.

The un-appropriated fund balance may increase by the following means:

  1. Year end surplus in the General Fund (which automatically reverts to the un- appropriated fund balance). 
  1. Additional transfers from the General Fund authorized by the Board of Library Trustees.

The un-appropriated fund balance may be decreased by the following means:

  1. Year end deficits in the General Fund.
  1. Payment of major capital purchases and building / opportunity expenses from the fund.
  1. Appropriation of un-appropriated fund balance for one time expenses.  Funds from the un-appropriated fund balance will not be used to subsidize reoccurring expenses.
  1. Pre-funding or purchasing of library referendum bonds to reduce the debt level and thus the tax levy

The goal for the balance of the working capital portion of the un-appropriated fund should be to maintain the balance within the range of 40% to 48% of the General Fund less bond debt and one time capital expenditures funded from the un-appropriated fund balance.  The target goal is 42%.

The goal for the combined major capital purchases and building / opportunity portion of the un-appropriated fund balance should be to maintain a balance within of range of 8% to 12% percent of approximately to the General Fund less bond debt and one time capital expenditures funded from the un-appropriated fund balance.  The target goal is 10%.  Identification of large capital purchases and building / opportunity expenses may necessitate Board revision of this balance range and target.

The fund balance will be reviewed annually, both prior to the adoption of the budget as a part of the budgeting process and in January of each year.