TO:
Honorable Mayor and Members of the City Council
THROUGH:
Bruce Moe, City Manager
FROM:
Mark Leyman, Parks and Recreation Director
Melissa McCollum, Senior Recreation Manager
Kari Bell, Senior Recreation Supervisor
SUBJECT:Title
Consideration of Library Commission Recommendations, Including Work Plan Updates and Potential Uses of Los Angeles County Library Set Aside Funds (Parks and Recreation Director Leyman).
(Estimated Time: 30 Min.)
DISCUSS AND PROVIDE DIRECTION
Body
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RECOMMENDATION:
Staff recommends that the City Council discuss and provide direction regarding Library Commission recommendations, including Work Plan updates and potential uses of Los Angeles County Library Set Aside Funds.
FISCAL IMPLICATIONS:
There are no fiscal implications associated with the recommended action. Agreed upon expenditures of Library Set Aside Funds are facilitated by the Los Angeles County Library System, which accumulates surplus funds generated from property taxes paid for the use and benefit of the Manhattan Beach Library.
BACKGROUND:
Manhattan Beach has a branch of the Los Angeles County Library System (LA County Library). Property taxes paid into the system by Manhattan Beach residents exceed the cost of operating the branch, including the debt service on the library building. The surplus funds accumulate for the benefit of the Manhattan Beach Library. Currently, there is an accumulated surplus balance of $11.0 million. Most recently, for Fiscal Year 2022-2023, the library generated a surplus of $1,455,730.
In 2013, the City and County executed an amended and restated Memorandum of Understanding (MOU) that governs the use of Set Aside Funds with a term until 2043, with two possible five-year extensions. The MOU established a structure in which the expenditure of the library surplus funds could be spent on the Manhattan Beach Library. Set Aside Funds may be used for one-time improvements such as capita...
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