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.
Latest News Stories
WATCH: Trick or treat: IL legislators pass tax increase, decoupling bill early Friday
Noem refuses Pritzker enforcement pause request, IL passes sanctuary enhancement
WATCH: Energy bill opponents say increases IL electric bills by $8 billion passes
WA Dems blame GOP for government shutdown; 1 million in state could lose SNAP benefits
Officials react to allegations of civilians impersonating ICE
Illinois quick hits: IL taxpayers have highest pension debt obligations in U.S.
WATCH: Bonta visits food bank amid lawsuit over CalFresh
IL taxpayers to pay $20M for food banks as SNAP funding lapses start Saturday
Poll: 7 in 10 of Americans are against mail-order abortion without a doctor visit
Trump’s plan to re-start nuclear weapons testing faces criticism
Illinois quick hits: Corrections director appointment approved; Clean Slate Act passes
Tyler Robinson’s in-person hearing delayed to January