ABOUT THE LIBRARY
2006 Library Budget Maintains Services While Achieving Cost Savings
July 29, 2005
On July 29, the Indianapolis-Marion County Public Library Board of Trustees approved a $35.7 million operating budget for 2006 that cuts costs and streamlines operations without reducing services to library patrons.
The Library's proposed operating budget is 2% less than 2005. With an operating fund tax rate of $0.0794, property tax revenues would comprise $30.3 million of the operating budget.
"This budget represents a responsible and realistic approach necessary to assure the Library's long-term financial stability," stated Louis Mahern, President of the IMCPL Board of Trustees.
Appropriations for salaries and related expenses, which comprise nearly 70% of the budget, have been reduced by six percent. Overtime and other pay incentives have been eliminated. With a planned reorganization of positions, the Library will save approximately $873,000 over the next five to seven years.
Cost reductions achieved in other areas, such as public relations, programming, training, supplies, telephone expenses and security, will not impact public services.
Costs for utilities, health care and certain contractual services continue to rise. Proposed revenue enhancing measures include an increase in fines and fees from 10 cents to 25 cents per day and in the cost of printed copies from 15 cents to 25 cents per copy.
The Library's books and materials budget of $6.8 million will comprise over 19% of the operating budget, reflecting IMCPL's commitment to maintaining a vibrant and abundant collection of materials.
The commitment to patron services is further seen in the Library's plan to open more branches on Sundays beginning in October 2005. The Wayne, Pike and Lawrence branches will join the Glendale, Eagle, Nora, Southport and Warren branches, along with InfoZone at The Children's Museum, in providing Sunday services.
Trustees also approved a debt service (bond) fund of $8.5 million for capital expenses to cover costs associated with such projects as the Central Library transformation and systemwide maintenance. In addition, the Library will implement a new Capital Projects Fund, already approved by the City-County Council, that will reduce the debt service for future construction and repair activity and save taxpayers money.
The Library Board's combined operating and debt service commitments to Marion County taxpayers will result in an approximate $5 increase for the year on a home with an assessed value of $100,000.
IMCPL's budget proposal now goes before the City-County Council, which is scheduled to review and consider approval of the budget by September 19.
