Council moves to create library gift account under M.G.L. ch.44 §53

City finance staff requested the council adopt an authorization under Massachusetts General Laws chapter 44, section 53 to establish a library gift account after the Revere Beautification Committee made a donation.

"By adopting chapter 44 §53, it'll allow me to establish a library gift account so that any future gifts to the library could be deposited there," the finance official said. Councilors asked whether other departments have similar gift accounts and who would approve expenditures. The finance official said the library would likely spend through the library director and board of trustees and that the account would be reflected on the city's general ledger and would be public information on request.

Councilors discussed whether gift account funds could be used for capital improvements (handicap accessibility) and were told that capital projects typically require other accounts but that expenditures "for the betterment of the library" could be approved from the gift account. The council voted to approve the establishment of the account and requested additional information from finance about which departments maintain gift funds.

Next steps: the finance office will establish the account and provide councilors with a summary of departmental gift-account practices.