SELCO approves formula change initiative

Hand writing formula on blackboardThe SELCO Board of Directors unanimously supports the resolution to seek a formula change and an increase in the annual appropriation of Regional Library Basic System Support (RLBSS).  The proposed formula change will reduce the Equalization factor of the formula from 25% to 15% and increase the Basic System Services factor from 5% to 15%.  This will will minimize volatility and stabilize the flow of state financial support.

Proposal to amend the current RLBSS formula tied to a funding increase

SELCO’s approval of the proposed legislative initiative, brings the tally of regional votes to nine of 12, with a goal of unanimous endorsement for future support by the Minnesota Library Association.