HomeMy WebLinkAboutTransmittal - 5/20/2025SALT LAKE CITY TRANSMITTAL
To:
Salt Lake City Council Chair
Submission Date:
04/29/2025
Date Sent to Council:
05/01/2025
From:
Department *
Finance
Employee Name:
Cleary, Greg
E-mail
Gregory.Cleary@slc.gov
Department Director Signature
Director Signed Date
04/29/2025
Chief Administrator Officer's Signature
Chief Administrator Officer's Signed Date
05/01/2025
Subject:
FY25 Library Budget Amendment #2
Additional Staff Contact:
Greg Cleary, Mary Beth Thompson
Presenters/Staff Table
Greg Cleary: greg.cleary@slc.gov and Mary Beth Thompson: marybeth.thompson@slc.gov
Document Type
Ordinance
Recommendation:
The Administration recommends that subsequent to a public hearing, the City Council adopt the following amendments to the FY 2025 Library adopted budget
Background/Discussion
See first attachment for Background/Discussion
Will there need to be a public hearing for this item?*
Yes
No
Public Process
Public Hearing
MARY BETH THOMPSON
Chief Financial Officer
ERIN MENDENHALL
Mayor
DEPARTMENT OF FINANCE
POLICY AND BUDGET DIVISION
451 SOUTH STATE STREET, ROOM 238
PO BOX 145467, SALT LAKE CITY, UTAH 84114-5455 TEL 801-535-6394
CITY COUNCIL TRANSMITTAL
___________________________________ Date Received: ________________
Rachel Otto, Chief of Staff Date sent to Council: ___________
______________________________________________________________________________
TO: Salt Lake City Council DATE: April 29, 2025
Chris Wharton, Chair
FROM: Mary Beth Thompson, Chief Financial Officer
SUBJECT: Salt Lake City Library Budget Amendment #2
SPONSOR: NA
Greg Cleary, City Budget Director (801) 535-6394 or
Mary Beth Thompson (801) 535-6403
Budget Amendment Ordinance
: The Administration recommends that, subsequent to a public hearing,
the City Council adopt the following amendments to the FY 2024-25 Library Fund adopted
budget.
REVENUE EXPENSE
LIBRARY FUND $ 3,672,084 $ 3,672,084
TOTAL $ 3,672,084 $ 3,672,084
BACKGROUND/DISCUSSION:
The Library’s budget includes an estimate of property tax revenues and expenditures for funds
that pass through the Library to the Inland Port Authority, Convention Center Hotel, and
Community Reinvestment Agency. Along with various other entities, the Library is required by
State law to account for these funds that are never actually deposited into the Library’s accounts.
The attached memo provides additional financial detail.
MEMO | April 28, 2025
To: Salt Lake City Council
From: Salt Lake City Public Library
Noah Baskett, Chief Executive Officer/Library Director
Tyler Bahr, Chief Financial Officer
Re: Library Budget Amendment 2 for FY2024-25
The Library’s budget includes an estimate of property tax revenues and expenditures for funds that pass
through the Library to the Inland Port Authority, Convention Center Hotel, and Community
Reinvestment Agency. Along with various other entities, the Library is required by State law to account
for these funds that are never actually deposited into the Library’s accounts. In FY2023-24, the actual
amount of the pass-throughs totaled $3,693,769. The FY2024-25 approved budget these projected pass-
throughs at $1,280,000. Salt Lake County has recently provided the actual amounts as follows:
Entity Amount
Convention Center $110,647
Community Reinvestment Agency $3,881,886
Inland Port Authority $959,551
Total $4,952,084
A budget amendment increasing the Library’s General Fund budget is necessary and the estimated
impact is outlined in the table below:
Account Name Current Budget
Amount
Proposed Budget
Amount Difference
Revenue
Property Taxes – Pass Through $1,280,000 $4,952,084 $3,672,084
Expenditures
Payments to Other Governments $1,280,000 $4,952,084 $3,672,084
The net impact of this adjustment will be zero as the expenditure increase is offset by the increase in
revenue. The Library’s Board of Directors approved the proposed amendment on April 28, 2025.
Recommended Motion:
Move to approve an increase in the Library’s FY25 General Fund budget of $3,672,084.