2022-10-05 Finance meeting notes

Individual member agreements

• Attachment A

• Courier service pass-through costs

  • Adam will send the Marmot/member agreement drafts to each finance rep

  • Each library will need to convey to Adam their preference for courier pass through costs

    • Boulder: annually

    • Broomfield: annually

    • Lafayette: annually

    • Louisville: annually

    • Longmont:

    • Loveland: annually

Billing overview

• Quickbooks Online

• 2023 billing approach

  • 2023 billing will be different than normal, due to the funding held with CLiC. Adam will process the credits from that funding as directed by the FLC Board, and send any invoices with any remainders once that amount has been finalized.

  • Adam will send the current (2022/2023) schedule of fees to the finance group

  • Marmot is considering a moderate fee increase for 2024; Adam and the Marmot Board are aiming to have that identified by April/May 2023.

• Billing frequency options for 2024 and beyond

  • City of Boulder will reach out to get updated vendor information

  • Adam will send W9s to each library

  • Annually (Jan. 1)

    • Broomfield

    • Boulder

    • Lafayette

    • Louisville

    • Loveland

  • Biannually (Jan. 1 & July 1)

  • Quarterly (Jan. 1, April 1, July 1, October 1)

• Electronic resources pass-through costs

  • Adam will be trying to get prorated invoices for items renewed in 2023, with a goal of having all contracts synced for January 1 in future years

Billing email addresses

• Adam added the provided email addresses to Marmot’s QBO

Payment information

• QBO electronic payment option

• ACH paperwork for electronic payments outside QBO

• Mailing address vs. physical address