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Director's Blog
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I like cold, clear days where the sun is so bright and the air so clear it makes my eyes water, moonlit evening snow falls, and waking up to icy Sunday mornings where the only thing I have to do is make tea. I tend to become a hermit during winter, curling up with a good book or pulling out a big cross-stitch project; it’s just too gooey to work in the yard, too cold to work around the house, and nobody wants to get out “in this weather”.
Most of my favorite authors have been waiting over the warmer days as I worked in the yard and around the house. I never have gotten the concept of “a summer read”—there’s just too much to do plus I’m not one for vacationing when there’s a chance my fair skin could be sunburned and the mosquitoes were out. As the evenings get longer, out come my bright colored embroidery threads and cheerful patterns that have been hidden away in a big drawer waiting to be started. During the longer days, I’m usually too tired to begin a complicated project by the time I finally stop.
So take advantage of the colder days and longer nights to resume (or start) a cheerful hobby or pick up a book by your favorite writer (or discover a new one). And on one of those lovely winter days visit The Library, we have a book for that.
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Boyd County Public Library recently published its annual report using data from the “General Fund Budget Summary” prepared for the Commonwealth of Kentucky. This summary was based on revenues for Fiscal Year 2008/2009 (which runs July 1 through June 30) and carryover from the previous year. This indicated The Library expected to have $7.1 million for July 1, 2008 through June 30, 2009.Â
I realized that, from this report, it appears that the Library has $7.1 million sitting around in the bank. I would like to explain where those funds come from and where they go.
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WHERE $7.1 MILLION COMES FROM
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$3,825,000
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Carry over from previous year (FY 07/08)
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$3,275,000
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Revenue for FY 08/09
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Â
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- Property taxes account for 83% of revenue
- Vehicle and Delinquent taxes are 4% each
- Another 4% from KY Revenue Cabinet
- Interest income (which ended up being a fraction of the amount reported in the annual report) generated only 1%
- State aid, fines, fees, and other miscellaneous sources made up the remaining 4%
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Â
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Though the fiscal year begins in July, the library must wait until the end of November to receive about 70% of the annual revenue (when property taxes are collected) then the remaining 30% comes through the rest of the year.
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 $7,100,000
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Total Funds Available for FY 2008/2009
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Â
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HOW THE $7.1 MILLION WAS DESIGNATED
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$3,275,000
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Budgeted Expenses for FY 08/09
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Â
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- Personnel expenses are 36% of the budgeted expenses
- Library Materials are 16% (books 10%, periodicals 2%, and media 4%)
- Operating Expenses (including utilities, telecommunications, supplies, building maintenance, and service contracts) are 13%
- Staff Development 1%
- Capital Projects 14%
(This does not add up to 100% because some Capital Outlay projects were not completed and were carried over to the next fiscal year—see below)
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$3,825,000
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Subtotal after budgeted items subtracted
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$632,000
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Projects not completed in FY 08/09, carried over to FY 09/10
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$3,193,000
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Subtotal after uncompleted projects subtracted
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$1,680,000
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Six months of expenses reserved annually (so the library never has to borrow money to cover expenses until main revenue check arrives in late November)
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$1,513,000
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Subtotal after reserve subtracted
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$275,000
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Accrued liabilities (average outstanding leave, unpaid bills, obligated expenses, etc. during any give month)
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$1,238,000
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Total funds remaining; this is designated for additional improvements, unforeseen emergencies, and, hopefully, a new building
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Â
$7.1 million seems like a lot until expenses and obligations are subtracted. I believe the library does a great job in using these funds in support of the library’s mission: to provide quality resources and access to information for all users.
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Earlier this year, several public organizations came under scrutiny concerning their business practices. [See Lexington Herald-Leader for more information.] In response to these spending controversies, the Auditor of Public Accounts’ issued “Recommendations for Public and Nonprofit Boards” in a May 11, 2009 Auditor’s Alert.
Though the board, the staff, and I continually review and implement recommended business practices, I immediately did a review of The Library’s internal controls in relation to the Auditor’s Alert. I am delighted to report that most of the Auditor’s Office recommendations were already in place.
Since then the library Policy Review Committee has revised the Personnel Policy Manual to close any gaps and to ensure recommendations were adequately covered. The Manual was approved by the Board of Trustees at the August 2009 meeting.
To see the Auditor’s Recommendations and the Library’s response, click KY Auditors Recommendations. Please feel free to contact me at
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
or (606) 329-0518, x1110 if you have any questions or comments.
Debbie Cosper
Library Director
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