City to amend budget to record $258,879.07 bequest to Winter Haven Public Library

Summary

The commission was asked to adopt a budget ordinance to recognize a $258,879.07 bequest from Velma Sewell Daniels to the Winter Haven Public Library; staff said the gift comes directly to the library fund (not the foundation) and will be placed in the library's restricted fund balance if not spent this year.

Speaker 7 presented Ordinance 25-40 to amend the fiscal year budget to record and appropriate a bequest of $258,879.07 from the estate of Velma Sewell Daniels to the Winter Haven Public Library. Staff explained the bequest was directed in the will to the Winter Haven Library and comes directly to the city rather than to the Friends/Foundation. The recommendation is to record the contribution as revenue in the library fund and increase materials expenditure authority so funds can be used for library-related expenditures.

Commissioners discussed whether to deposit the funds into the library’s restricted fund or the foundation; staff clarified the city’s library fund will hold the funds and that amounts not spent by year end will roll into the library’s restricted fund balance. Library leadership present said the city will explore how best to honor the donor’s wishes and potential program or capital uses. No formal vote was recorded in this session; staff plans to present the ordinance for adoption at the next meeting.