How is the Library Funded?
Until recently, the Public Library Fund (PLF) was funded with 1.97% of the total tax revenue received by the State of Ohio and divided among the 251 public libraries in Ohio. However, from mid-2011 until mid-2013, the PLF is funded at 95% of the monthly distributions made in August 2010 through July 2011. Therefore, any increases in State revenue during the current biennium budget period will not benefit the Library.
In 2012, the PLF provided 62.2% of all revenue received by our library. The Hamilton County property tax levy provided 31.2%.
|Public Library Fund, State of Ohio||62.2%|
|County Tax Levy||31.2%|
|Fines & Fees||3.2%|
|Contributions & Gifts||0.5%|
|E-rate Telecommunication Discounts||0.9%|
|One Time Revenue*||0.8%|
|Real Property Sale||0.6%|
|Earnings on Investments||0.2%|
*In 2012, the Library received $338,957 in one time refunds and $111,000 in incentives from Duke Energy
**Restricted grants, Passport fees, supply sales, property rentals/sales, refunds, digital services.
What are the Library’s expenditures?
|Salaries & Benefits||62.9.9%|
|Purchased & Contracted Services||15.8%|
|Furniture & Equipment||1.6%|
What is the Library’s funding outlook?
While the PLF remains our primary source of funding, the amount of revenue it provides continues to fall. State funding of public libraries will increase slightly in 2013 by about 2.2%. A countywide property tax that Hamilton County residents strongly supported began providing additional revenue in 2010. In 2013, the fourth year of the levy, revenue is projected to continue to decrease by almost 2% from 2012 as a result of property re-evaluations. The Library anticipated $20 million a year from the levy. The projected revenue for 2013 is $17.5 million.
From 2011 to 2012, the PLF receipts decreased by over $2 million and levy receipts dropped by $1.8 million. By continuing to seek out opportunities for cost savings and to maintain strict control over expenses, the Library was able to offset cost increases and funding reductions, and to keep 2012 spending in line with 2011 spending levels.
As we see continued growth in usage during these challenging economic times, it is clear that our Public Library is more valuable and relevant to the children and families of Hamilton County than ever before. We are committed to continuing to provide excellent library services to all residents of Hamilton County but, with reduced funding, some difficult decisions may have to be made to continue to operate within our budget.
Financial Reporting and Audits
The Library's excellence in financial reporting was once again recognized through receipt of both the Auditor of State Award of Distinction and also a Certificate of Achievement from the Government Finance Officers Association for its 2011 Comprehensive Annual Financial Report (CAFR). Copies of the Library's annual state audits from 1999 to the present may be accessed from the Ohio Auditor of State's website.