The library board approved a $410,000 budget for the next fiscal year at Thursday’s special meeting.
At the last meeting, the board decided they wanted to keep the mill rate at its current 3.44 mills, meaning with the over 8% increase in the city’s assessed valuation, the library would generate about $35,000 more in tax for the library next year, President Kenny Massey said.
With each budget cycle, the library has to make a decision to stay revenue neutral or exceed their revenue neutral rate. If it decided to stay with their revenue neutral rate, it would be agreeing it can continue operating off the same amount of money as it did the previous year, Massey said. Last year the budget was $388,700.
By exceeding the revenue neutral rate, it gives the library more money for projects that have increased with inflation, Massey said.
“Well, the purpose of it is, in my opinion, quite honestly, we can generate some more operating funds to enhance programs and the services that are provided and also cover the increasing cost of just running the library,” he said.
Massey said it is important to remember that the cost of operating the library is going up.
“We also have to be very cognizant that this building could have a major breakdown at any time. That would require funds to fix it, but more importantly is providing the services and the opportunities for the people to use the library,” he said.
The increased assessed value is not a result of the library board, Massey said.
With the approval of the budget by the board, it will now be taken to the county clerk, Massey said. There will also be a revenue neutral hearing, but a date is not yet set. Residents will receive postcards in the mail regarding the neutral rate being exceeded, vice president Eric Magette said.
This year’s budget includes a line item for employee benefits, which has not been in previous budgets. The board will start putting small amounts of money into that item to eventually provide benefits for the library’s full-time employees. This budget has $500 attributed to benefits.
Other increases with this year’s budget included a change so Director Carol Wohlford could provide more programming for kids and bring in more rotating books.
The library also plans to continue to build its capital improvement fund in case the building needs major work done.
“And the reason that’s important [is] because our building could have some major issues at any time, and we want to make sure we have the funds to replace HVAC, fix the roof or whatever might come up, you know,” Massey said.
The library’s payroll expenses are the largest category, totaling $254,900. Collection development totals $61,400 and programming totals $26,000. Contractual services for things like lawn care, the library’s search catalog and janitorial services total $32,000.
The next meeting will be at 6:30 p.m. July 18.
Reach reporter Sara Maloney at [email protected]
