Item 12 - AA Recognizing Grant Revenue for the California State Library

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Building Forward Library Facilities Improvement Program Grant for the Newhope Library February 20, 2024 Page 2 4 0 4 2 outdoor patio, state-of-the-art technology, community gathering spots, and a new Innovation Center equipped to provide STEM learning opportunities for the entire family. While the grant requires a dollar-for-dollar match, the City’s Local Income Per Capita (LIPC) made it eligible for a 75% reduction in the local match requirement. The City will only be required to provide a match of $271,688, which is within the current approved project budget and funded with Cannabis Public Benefit Fund funding. Per the request of the California State Library, the Library Services Director, as the designated authorized representative, executed the Grant Agreement via the online signature platform, DocuSign. The agreement is included with the Staff Report for reference. All grant funds must be fully expended by June 30, 2027. FISCAL IMPACT An appropriation adjustment to recognize $1,086,754 in the State Grant – Direct Revenue account (15211002-52025) and Reserve Appropriation Account (15211002- 59011), and appropriate funds to the respective expenditure accounts is shown below. The necessary appropriations for the local match requirement, which were previously approved by City Council with the FY 2023-24 carryovers, are also included below. Any remaining balances not expended at the end of the fiscal year will be presented to the City Council for approval of carryovers to FY 2024-25. Fiscal Year Accounting Unit – Account Number Fund Description Accounting Unit, Account Description Amount FY 23-24 15211154-61000 Public Library Grant Fund Building Forward Grant – Salaries Regular $8,097.00 FY 23-24 15211154-61100 Public Library Grant Fund Building Forward Grant – Retirement Employer Normal $337.00 FY 23-24 15211154-61120 Public Library Grant Fund Building Forward Grant – Medicare Insurance $109.00 FY 23-24 15211154-61130 Public Library Grant Fund Building Forward Grant – Health Insurance $1,399.00 FY 23-24 15211154-61170 Public Library Grant Fund Building Forward Grant – Retiree Health Benefits $112.00 FY 23-24 15211154-65100 Public Library Grant Fund Building Forward Grant – Insurance Charges $526.00 FY 23-24 15211154-65105 Public Library Grant Fund Building Forward Grant – Benefits Overhead $75.00 FY 23-24 15211154-66200 Public Library Grant Fund Building Forward Library Grant – Buildings & Building Improvements $532,722.0 0