Appendix
GVPL Five Year Financial Plan (Final) 2014 - 2018
March 11, 2014Page 301 section
Financial projections for the library system through 2018.
$14,975,793 municipal contribution in 2014Projected $17,185,272 contribution by 2018
FIVE YEAR FINANCIAL PLAN (Final) 2014 - 2018
Revenue
| Revenue | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
|---|---|---|---|---|---|---|
| Municipal contributions | 14,468,541 | 14,975,793 | 15,499,579 | 16,042,081 | 16,603,534 | 17,185,272 |
| Provincial grants | 644,066 | 644,503 | 644,503 | 644,503 | 644,503 | 644,503 |
| Federal grants | 4,333 | 7,592 | 7,592 | 7,592 | 7,592 | 7,592 |
| Other grants | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 |
| Fines and fees | 738,575 | 678,000 | 630,540 | 599,013 | 563,072 | 523,657 |
| Contracts for service | 25,970 | 25,970 | 25,970 | 25,970 | 25,970 | 25,970 |
| Investment Income | 40,000 | 40,000 | 40,000 | 40,000 | 40,000 | 40,000 |
| Restricted Donations | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 |
| Transfer from replacement reserve | 78,000 | 78,000 | 83,000 | 88,000 | 93,000 | 103,000 |
| Total Revenue | $ 16,039,485 | $ 16,489,858 | $ 16,971,184 | $ 17,487,159 | $ 18,017,671 | $ 18,569,994 |
Expenditure
| Expenditure | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
|---|---|---|---|---|---|---|
| Salaries and benefits | 11,571,051 | 11,894,767 | 12,018,392 | 12,238,338 | 12,472,245 | 12,710,416 |
| Library materials | 2,118,543 | 2,179,993 | 2,459,992 | 2,701,992 | 2,953,191 | 3,215,510 |
| Supplies and services | 859,737 | 917,819 | 926,997 | 936,267 | 945,630 | 955,086 |
| Building occupancy | 802,073 | 750,015 | 780,016 | 811,216 | 843,665 | 877,411 |
| Other expenses | 305,653 | 334,525 | 337,870 | 341,249 | 344,661 | 348,108 |
| Capital expenditures | 271,428 | 301,563 | 321,563 | 326,563 | 326,563 | 326,563 |
| Reserve contribution - replacement | 75,000 | 75,000 | 90,000 | 95,000 | 95,000 | 100,000 |
| Reserve contribution - contingency | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 |
| Reserve contribution - JF MAM | 16,000 | 16,176 | 16,354 | 16,534 | 16,716 | 16,900 |
| Total Expenditure | $ 16,039,485 | $ 16,489,858 | $ 16,971,184 | $ 17,487,159 | $ 18,017,671 | $ 18,569,994 |
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|---|
| Budget Increase | $ 391,277 | $ 450,373 | $ 481,326 | $ 515,974 | $ 530,512 | $ 552,323 |
| 2.50% | 2.81% | 2.92% | 3.04% | 3.03% | 3.07% | |
| Municipal Contribution increase | $ 499,783 | $ 507,251 | $ 523,786 | $ 542,501 | $ 561,453 | $ 581,738 |
| 3.58% | 3.51% | 3.50% | 3.50% | 3.50% | 3.50% |
The Five Year Financial Plan as presented assumes the status quo regarding the current number of branches operating in the GVPL system (10). The Plan is updated annually, and will reflect changes based on requests for additional branches received from municipalities when the Board has approved such direction.
Approved by Library Board, February 25, 2014
Page 30
Extracted from: 2014 03 11 Committee of the Whole Agenda