Title
Vote to adopt a resolution to close the Chatham County Library Foundation Special Revenue Fund
Abstract
Introduction & Background: The Chatham County Library Foundation, Inc., was incorporated on August 14, 2006. Upon creation of the Corporation, the Chatham County Board of Commissioners approved the creation of a special revenue fund for the business purposes of the Corporation.
Discussion & Analysis: The Corporation’s Board of Directors has determined that it is in the best interests of the Corporation to cease operations and dissolve due to prolonged inactivity and lack of sustained funding. The Board of Commissioners must approve closure of the special revenue fund.
How does this relate to the Comprehensive Plan: n/a
Budgetary Impact: Closure of the Library Foundation Special Revenue Fund will increase the Library Services General Fund budget by $15,691.
Recommendation/Motion: Motion to adopt a resolution to close the Chatham County Library Foundation Special Revenue Fund.