Appendix
GVPL 2014 Final Operating Budget
March 11, 2014Pages 28–291 section
Detailed line-item budget for the library's operations, comparing 2013 and 2014 figures.
$16,489,858 total funding2.81% budget change
2014 Final Operating Budget
Approved by Library Board, February 25, 2014
Funding
| 2013 Budget | 2013 Forecast | 2014 Budget | Budget change ($) | Budget change (%) | Explanation of budget variance | |
|---|---|---|---|---|---|---|
| Municipal contributions | $ 14,468,541 | $ 14,468,541 | $ 14,975,793 | $ 507,252 | 3.51% | |
| Saanich contribution - Emily Carr | - | 300,000 | - | - | 0.00% | One-time funding for Emily Carr relocation to Uptown: furnishings and equipment. |
| Revenue | ||||||
| Provincial grants | 644,066 | 644,503 | 644,503 | 437 | 0.07% | Slight increase in Resource Grant. |
| Federal grants | 4,333 | 7,592 | 7,592 | 3,259 | 75.21% | Increase in Young Canada Works grant for Summer Reading Club. |
| Other grants | 10,000 | 50,000 | 10,000 | - | 0.00% | Stable revenue from the library endowment fund; 2013 forecast also includes grants from various organizations not budgeted. |
| Fines and fees | 738,575 | 683,000 | 678,000 | (60,575) | -8.20% | Based on actual; all fines and fees decreasing except for printing revenue. |
| Contracts for service | 25,970 | 25,970 | 25,970 | - | 0.00% | |
| Investment income | 40,000 | 50,000 | 40,000 | - | 0.00% | |
| Restricted Donations | 30,000 | 40,000 | 30,000 | - | 0.00% | Stable revenue from the Friends of the Library ($10k) and other donations conservatively estimated ($20k), that are designated for specific purposes. ¹ |
| Total Revenue | 1,492,944 | 1,501,065 | 1,436,065 | (56,879) | -3.81% | |
| Transfer in from reserves | 78,000 | 150,984 | 78,000 | - | 0.00% | Budget for funds transferred from reserve to fund Building Improvement budget; 2012 operating surplus reestablished 2013 budget cuts for capital expenditures. |
| Total Funding | $ 16,039,485 | $ 16,420,590 | $ 16,489,858 | $ 450,373 | 2.81% |
¹ While the library has initiated a development plan, the program is in its infancy and revenues cannot be reliably projected at this time.
Expenditure
| 2013 Budget | 2013 Forecast | 2014 Budget | Budget change ($) | Budget change (%) | Explanation of budget variance | |
|---|---|---|---|---|---|---|
| Salaries and benefits | 11,571,051 | 11,589,100 | 11,894,767 | 323,716 | 2.80% | General wage increase estimated, regular step increases and job reclassifications, reduced employee leaves, benefit cost increases in medical (MSP), WorkSafeBC and pension. |
| Library materials | 2,118,543 | 2,120,000 | 2,179,993 | 61,450 | 2.90% | Net expansion of collection to respond to changes in technology and delivery methods, based on demand; $17k reclassified to Other Expense category: OCLC membership fee for catalogue records. |
| Supplies and services | 859,737 | 882,000 | 917,819 | 58,082 | 6.76% | Net increase software subscriptions, telecom, networks and new subscription that better meets customer demand; $8k moved to Other Expense: Business Travel budget. |
| Building occupancy | 802,073 | 775,000 | 750,015 | (52,058) | -6.49% | Reduction in planned major asset maintenance projects at Central Branch and in repair and maintenance contingency budgets; net of expected increase in utilities. |
| Other expenses | 305,653 | 293,000 | 334,525 | 28,872 | 9.45% | $17k moved here from Library Materials for a membership fee; $8k moved here from Supplies; remaining increase for earthquake insurance rates. |
Capital expenditures:
| 2013 Budget | 2013 Forecast | 2014 Budget | Budget change ($) | Budget change (%) | Explanation of budget variance | |
|---|---|---|---|---|---|---|
| Computer and telecom equipment | 146,020 | 151,500 | 147,063 | 1,043 | 0.71% | Slight increase in principal payment on capital lease (per amortization schedule). |
| Furniture, equipment, shelving | 34,500 | 330,000 | 59,500 | 25,000 | 72.46% | Increase in 2013 due to Emily Carr relocation expenses funded by Saanich ($300k contribution included in revenue); 2014 increase due to reinstatement of 2013 reduction of $25k for furniture, equipment and shelving replacements. |
| Automotive | 12,908 | 3,428 | 17,000 | 4,092 | 31.70% | Shuttle vehicle lease deferred in 2013; interest rate increase expected in 2014. |
| Building improvements | 78,000 | 78,000 | 78,000 | - | 0.00% | Funded by Replacement Reserve (transfer from reserves to revenue above). |
| Reserve contributions | 111,000 | 111,000 | 111,176 | 176 | 0.16% | Contributions to reserve funds: $20k contingency, $75k replacement, $16,176 for Juan de Fuca for building maintenance of Collection & Technical Services area (20%). |
| Total expenditure | $ 16,039,485 | $ 16,333,028 | $ 16,489,858 | $ 450,373 | 2.81% | |
| Operating Surplus | - | $ 87,562 | - |
Non-PSAB Compliant
Page 28–29
Extracted from: 2014 03 11 Committee of the Whole Agenda