Frankfort Library Secures $83K Grant for Reading Room, Financial Report Shows Strong Position

FRANKFORT, IL – The Frankfort Public Library is poised to begin its next major renovation after the State Library confirmed it has qualified for a matching grant of up to $83,000 for a new Reading Room project. The news comes as the library’s year-end financial reports show a strong fiscal position, with healthy reserves and spending well under budget.

The grant qualification was announced at the Board of Trustees meeting on Thursday. According to library correspondence, the grant funding is expected to arrive within a few months. The remainder of the project’s cost will be covered by the library’s Special Reserve Fund.

This new funding is timely, as the library’s Capital Funds Project account was depleted following the recent major purchase and installation of a new HVAC system. The grant allows the library to move forward with significant patron-facing improvements without delay.

The library’s strong financial footing was detailed in the May 2025 treasurer’s report, presented by Trustee Karen Miner. With the fiscal year nearly complete, annual revenue was running at 102.98% of the budgeted amount, while annual expenditures were at only 87.16%. The report also noted that the library maintains enough emergency funds to cover four to six months of operating expenses.

With the HVAC project finished, the board is already looking ahead to future renovations. President Look discussed the potential formation of a new Renovation Committee within the next few months. He noted that establishing the committee now, with a mix of new and experienced board members, would provide continuity for long-term planning.

In another move to secure the library’s assets, Director Amanda Kowalcze reported that the administration had met with its insurance broker to add earthquake and flood insurance to its policy. The 5.5% premium increase for the new coverage was included in the budget. The library also enhanced its financial protections by switching from a standard treasurer’s bond to a more comprehensive governmental crime coverage policy.

The successful Friends of the Library group continues to be a key financial contributor. The group’s first book sale of the season on June 14 brought in $3,300, a figure noted as being higher than usual. The fundraiser for the library’s outreach vehicle has also reached 60% of its goal.