As part of an October 2020 Intergovernmental Agreement between the Village and the Library regarding Personal Property Replacement Taxes, the Library granted a credit of $460,000 to be used towards the new ERP software.  Based on the recently approved cost of the new ERP software, the Library's portion is only $351,004.  Therefore, a true-up refund of $108,996 should be issued to the Library.

RECOMMENDATION:

It is recommended that the Village Board approve an ERP cost true-up refund to the Library in the amount of $108,996.