Action Item	Lincoln Trail Libraries System March 17, 2003
Action Item No.:	2003-20
Subject:	Grant Anticipation Warrants
Recommended by:	Budget/Finance Committee
Adopted:	March 17, 2003

The Illinois State Library has informed LTLS Staff that Area and Per Capita Grant payments that began in January may be delayed due to the current budget constraints. As a result, the LTLS Budget/Finance Committee authorizes the staff to take the necessary steps to apply for Grant Anticipation Warrants as prescribed in the LTLS Finance and Investment Policy (Section VIII B). Any borrowing of funds by LTLS will be used to provide interim funding to meet temporary shortages for the operation of the System due to delayed Libraries System Area and Per Capita grant payments from the Illinois State Library.