Mayor and Council January 30th, 1976 FEB

Alderman J.J. Keryluk

Mr. Overend, Director of the Fraser Valley Regional Library,
be in attendance in Council on Monday, February 2nd, 1976.

Attached please find:

(a) Statement of Revenue and Fxpenditures -
January 1st, 1975 - December 31st, 1975.

Library Tax Assessments, 1976.

Proposed Funding Sources for the new Fraser Valley Regional
Library Headquarters.

You were earlier provided with a complete breakdown of the 1976

Operating Budget.

At the last Board meeting the following business was transacted:

(a) All branch libraries shall operate six days a week and remain
open the same number of hours as jn 1975,

No additional funds shall be placed in the budget to cover the
cost of the additional hours of operation. Instead, the
library tax assessment will remain at 1.453 mills for a total
assessment of $1,669,357. The required $220,593. to cover
additional wages will be taken out of other items in the budget
such as books, etc.

In the proposed Capital Funding, the Board has accepted Scheme C for
a total cost of $180,334. Port-Coquitlam's share on this basis would.
be $7,790. -

The Board has also agreed to take another look at the offer of free

land from the Municipality of Mission at $1.00 per year on a 99-year lease

for the Regional Headquarters.

/ba
attachment.