fiscal year 2008 budget. circulation 2001-2006 83% increase
TRANSCRIPT
Fiscal Year Fiscal Year 2008 Budget2008 Budget
Circulation 2001-2006
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
FY 01 FY 02 FY 03 FY 04 FY 05 FY 064,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
FY 01 FY 02 FY 03 FY 04 FY 05 FY 06
83%Increase
Property TaxReform
Status Quo for FY 2008=
Actual Millage Rate .4325
“Rolled-Back” Rate .3864
Less 3 % Reduction
(.0116)
Maximum Proposed Rate
.3748
13.3% Reduction from FY 2007 Rate
Millage RatesFY 2007 FY 2008
Tax Calculation Example
FY 2007 FY 2008
Assessed Value $250,000 $257,500
Homestead Exemption $(25,000) $(25,000)
Taxable Value $225,000 $232,500
Millage Rate X .4325 .3748
(Per $1,000 of Taxable Value)
Library Tax $97.31 $87.14
Dollar Savings $10.17
% Savings 10.5%
Operating Fund Revenue Summary
FY 2007 FY 2008 Change
Taxes 35,375 35,853 478
Intergovernmental 1,592 1,252 (340)
Charges for Services 215 215 0
Fines & Lost Materials 1,520 1,625 105
Miscellaneous 1,099 1,277 178
Reserves (Fund Balance) 1,725 1,304 (421)
Total 41,526 41,526 0
Operating Fund Expenditures Summary
FY 2007 FY 2008 Change
Salaries & Benefits 20,287 21,838 1,551
Operating 9,891 10,241 350
Capital Outlay 1,401 200 (1,201)
Materials (Books, CDs, DVDs) 4,970 4,837 (133)
Transfers to Other Funds
4,977 4,410 (567)
Total 41,526 41,526 0
FTE’S 365 373
Fiscal Year 2008 Priorities
• $4,000,000 for branch expansion
• $4,800,000 for library materials
• $300,000 for personal computers
• $100,000 for Open Source software
Branch Expansion- Plan
• $4,100,000 of fiscal year 2007 budget dedicated for branch expansion
• Based on this annual level of funding goal was to construct 3 new branches over 8 years
• Priorities: Chuluota Road + SR 50
Chickasaw Trail + SR 50
Moss Park + Narcoossee Road
Branch Expansion- Status
• Resources
– Fiscal year 2007 $4,100,000
– Fiscal year 2008 $4,000,000
– Fiscal year 2009 & beyond (Depends on PTR) ????
• Expenditures
– Chickasaw property ($2,550,000)
– Chickasaw remodel design (A/E) ($50,000)
Available $5,500,000
Chickasaw Property
Branch Expansion- Future• If “Super Exemption” amendment passes, ability to
pay Chickasaw annual operating costs is a serious concern
• Should $5,500,000 be spent to remodel and equip Chickasaw
• Should $5,500,000 be used to acquire land for future branch sites
• Design process to remodel Chickasaw put on hold
Library Budget Public Hearings
FIRST September 10th 5:01 pm
SECOND September 18th 5:01 pm
Recommendations
Approve FY 2008 tentative budgets for the Orange County Library
District
Approve FY 2008 tentative millage rate of .3748 for the Orange County Library District
Questions
?
Fiscal Year Fiscal Year 2008 Budget2008 Budget