Library Board Approves Annual Transfer to Special Reserve Fund
Mokena Community Public Library District Board of Trustees Meeting | September 2025
Article Summary
The Mokena Community Public Library District Board of Trustees has approved its annual transfer of funds into its Special Reserve Fund. The unanimous vote to approve Ordinance 373-2025 is a routine financial step that allows the library to set aside money for specific, designated purposes outside of its general operating budget.
Special Reserve Fund Key Points:
-
The board approved Ordinance 373-2025, which authorizes the annual transfer.
-
The Special Reserve Fund is a financial tool used to save for specific future projects or contingencies.
-
Trustee Sara Carmody requested information on the amount that was transferred in the previous year.
-
The motion was approved by a unanimous roll call vote.
MOKENA, Il. – The Mokena Community Public Library District board has authorized its yearly allocation to the library’s Special Reserve Fund, a key part of its long-term financial strategy.
During the September 23 board meeting, trustees unanimously passed Ordinance 373-2025. This ordinance, which is approved annually, facilitates the transfer of funds from the library’s operating accounts into a legally distinct reserve fund. This practice allows the library to save money over time for specific capital projects, technology upgrades, or other significant future expenses without impacting the day-to-day operating budget.
Before the vote, Trustee Sara Carmody asked Executive Director Cathy Palmer to provide the board with the amount that was transferred into the fund last year for comparison.
Following the brief discussion, Trustee Erin Minh made a motion to approve the ordinance as presented, which was seconded by Treasurer Alvin Kempf, Jr. The motion passed with a unanimous roll call vote from all trustees present.
Community Events
Latest News Stories
Debate persists over nation’s highest gas prices in California
Consensus for power supply solution still elusive
Digitization of aviation supply chain an opportunity to ascend out of 1950s
Zoning Cases in Crete and Manhattan Townships Postponed to December 16
Will County Commission Approves New Lenox Variances, Overriding Staff’s Denial Recommendation
Mokena 159 Board Approves Tentative $22.5 Million Tax Levy, Increase Triggers Public Hearing
‘Classic impasse’ for Chicago aldermen debating proposed taxes, spending cuts
Lincoln-Way 210 Board Approves Tentative 2025 Tax Levy with 4.57% Increase
Texas authorities arrest men for violent crimes after illegally entering as minors
WATCH: Gun ban cases and the Supreme Court; English and CDLs; Don Tracy eyes Senate
Illinois quick hits: Madigan disbarred; taxpayers subsidize medical debt relief
Will County Executive Committee to Hash Out Budget Cuts Following Levy Reduction