Discussion:

Reserve Fund Expenditure Plan

The 2020-2027 Capital Budget and Restricted Reserves Fund report was approved by the WPLB on August 20, 2019. Future reserve fund expenditure plans, and fund balances as at November 27, 2019, are outlined in the table below.

Fund	Fund description	Fund balance, Nov 27/19	Description	Expenditure plan
199	Capital Reserve Fund	$756,912	Established by theWPL Board to be used for capital expenditures.	Held for unanticipated capital expenditures.
200	Budimir Fund	$13,173	Established by the Budimir Family to improve the Budimir Library	Committed to furnish Budimir branch with new collection material upon completion of renovations (50.19).
202	Discard Reserve	$18,379	Established to track WPL discard sales and expenditures.	Funds to be used to replace discarded materials with relevant materials.
204	Operations Expenditure Reserve	$289,855	Established to develop or test specific services or offset any over expenditures / deficit	Committed for use towards planning and development costs of a new Central library (65.19).
430	C.M.Bradley Fund	$10,443	Established by C.M. Bradley to build a new Sandwich Library	Committed to furnish John Muir branch with new collection material (50.19).
	Total	$1,088,762

Donations & Bequests

A total of 34 individual donations totalling $4,300 have been received to date in 2019.