DRA Finance Committee

Minutes

March 15, 2002

Present: Mary Ann Pohl, Nina Wunderlich, Diane Yeoman, Paul Johnson (RPLS) and Nancy Huntley

Absent:     Bobbi Benning, Mike Bernard, and Jean Campbell

The meeting was called to order at 10:00 a.m.

Paul Johnson reviewed the Computer Development Fund Projections for Fiscal Year 2002. With the exception of Interest Income, the revenue projections for FY02 are on target. There has been a slight decline in interest income due to the drop in interest rates nationwide. Revenue for FY02 should be approximately $300,000.

The committee discussed the expenditures for FY02 to date. We have not spent any money from the Equipment line so far. Contractual expenses are on track with the budget, though we have not yet spent any of the money that was budgeted for consulting fees or for the TQM backloading. We have spent more than budgeted on Supplies. This may be due to the fact that we have decentralized supplies and each library is keeping a small stock of paper and ribbons, etc. We estimate that we will have a balance of $345,000 at the end of the fiscal year.

The committee reviewed the proposed budget for FY03. Revenue will increase slightly as we add new libraries to the LLSAP. Expenditures will also increase slightly in the following lines: DRA Maintenance, DRANET, Cent. Network T-1,Pager,Havanna Phone Line, and Database Manager.

The proposed FY03 budget will be presented to the Governing Board at their April meeting. Then it will go before the RPLS board to be incorporated in the RPLS budget.

The meeting adjourned at 11:30 p.m.