Interesting News Out Of Michigan where the St. Clair County Library System took in $264,030 more than it spent in 2004, the second year in a row the system has had a surplus. It made $140,094 in 2003 and has made money in five of the past 10 years.
“We probably did overcut last year,” library director Jim Warwick said. “We were trying to make sure we didn’t get caught with no funds at the end of the year.”
The library system has no plans to use the surplus to restore cuts made over the past several years, Warwick said.
Rainy Day Fund?
Not sure what the laws are in Michigan, but in most places, would not the library have an obligation to use it for SOMETHING or give it back?