MEMORANDUM | DEC 17 1979

To: Mayor and Council . December 13, 1979.

From: Michael R. Wright,
Alderman

Re: New Books for Enlarged Branches

1. In late 1978 the T.V.R.L. Board of Management introduced a
policy designed to encourage new branches to increase their book stock.

If the Muncipality decided to accept this policy it would mean that the
Municipality would pay fifty percent of the cost of the extra books
required and that F.V.R.L.- would pay the other fifty percent. The

maximum number of books which a new branch could purchase under this policy
is calculated from a formula which takes into account the size of the new
library, a recommended figure of six volumes per square foot, the

existing bookstock and an average cost per volume. The policy also
includes details on ownership of the books bought under this scheme.

In 1980 the F.V.".L. is faced with an expenditure of
$157,910. which is the F.V.R.L. share of new books for enlarged branch
libraries. (Chilliwack, Clearbrook, Guildford, and Whalley).

° &
The Finance Committee of which I am chairman, of the F.V.R.L.
. recommended to the board meeting at their last meeting that the

Recreational Facilities Fund grant of $233,333. (the Provincial Government
share of the new headquarters building) together with any future proceeds
of rate of the old headquarter building be placed in a reserve fund for
the express purpose of meeting part of the committment of new books
for enlarged branches. It was recommended by the Finance committee that
fifty percent of the F.V.R.L.'s share comes from the systems annual budget.

It can be seen from items 4.5 of the minutes of the last
meeting, there was some opposition to the Finance Committee's recommendation.
However, I believe that instead of returning the Provincial Recreation
Grant to the Municipalities (by reducirg the 1980 library tax assessment)
it would be more beneficial to the system as a whole to create a Reserve
Fund thereby relieving future Library Tax Assessments.

I therefore .recommend that Port Coquitlam agree to creating
a reserve fund for the sole purpose of purchasing new books for new or
enlarged libraries. .

2. Also attached to this report are the Library Tax Assessments
for each Municipality as shown in the Provisional Budget for 1980. These
figures are not final as the Final Budget has not been approved by the
Board of Management and is included for information only.