The deficit in the employee benefit expenditure is due to the terminal-leave payout. Trustee Winter asked where the short term investment of the TAN was being kept. The advantage of it is that monies could be withdrawn, if needed, for payroll purposes for example, without penalties. He also presented a detail of purchased services expense. Included in the June actual column is the reversal of the Deloitte and Touche settlement agreement.
Telephone services are higher than budgeted.
The budget figure should have been based on the previous year, but it wasn t. Lastly, Comptroller Nieman reported on the rollforward of the undesignated fund balance and the cash accounts. Joan Weisman presented the award on behalf of the League. The Library has also received a gift from an anonymous donor of 47 prints. The prints are being researched to find out their value.