County library general fund budget holds steady at $3.3M
Post Independent Staff
Glenwood Springs, CO Colorado
The Garfield County library system, currently in the midst of a building program, expects to spend approximately $3.3 million in operating funds in 2012, about $138,000 more than the library district spent in 2011.
According to the district’s draft budget for next year, revenues are projected to be more than $2.6 million from sales tax. That is after subtracting $600,000 to be used to repay the state department of revenue for over-collected sales taxes on gas drilling companies from 2002 to 2005.
To make up the difference between the $2.6 million in revenues and the $3.3 million in expenditures, according to Wilma Paddock, assistant director of administration, the district has planned to transfer $700,000 from its capital improvement fund balance to make up the difference.
Paddock said when voters approved formation of the district in 2006, they authorized the transfer of money from the capital improvement fund to the operating fund for just such circumstances.
Within the general fund, the district plans to spend more than $2.3 million for wages and benefits for the district’s staff of approximately 57 people – about 30 part timers, and the rest full time, Paddock said.
Other general fund expenses include $260,000 for library materials, $247,900 for professional and technical services, $216,000 for building and equipment overhead, $25,000 for programming and $163,000 on other overhead, such as insurance, phone, advertising and office supplies.
In its capital improvement fund, the district is planning to spend more than $10.6 million in construction and other capital costs next year. Most of that, $9.6 million, will go toward completion of libraries already under way in New Castle and Silt, and the commencement of construction for new libraries in Glenwood Springs and Carbondale.
The remaining $1 million, Paddock said, is taken up in the transfer of $700,000 to the general fund and the earmarking of $300,000 for unanticipated expenses related to the construction program.
The district has spent approximately $8 million of the $22 million raised by selling “certificates of participation,” or COPs, in 2010 and 2011, to fund the six-library construction program, Paddock said. The budget includes a line item of $1.8 million in debt service payments.
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