GVPL 2016 Operating Budget (Provisional) Tables

2016 MUNICIPAL CONTRIBUTIONS (PROVISIONAL)

¹ The Rent Adjustment is calculated in accordance with Section 8.12 (a), (b) and (c) of the Library Operating Agreement and relates to portions of buildings used to benefit all member municipalities: the Collection and Technical Services section of the Juan de Fuca Branch building and the Administrative portion of the Central Branch building. Municipalities which did not contribute to the initial acquisition of such building or who did not subsequently purchase a portion of such building pays reasonable rent to those Municipalities that did. Rent adjustments are subject to change in the final budget submission, due by March 1, 2016, once property assessment values have been received.

² Building Costs for jointly owned buildings are additional municipal budget amounts that are over-and-above the requisition for the library operating budget. The two branches that are jointly owned are the Central Branch and the Juan de Fuca Branch. Similar costs at other branches do not flow through GVPL and are paid by the municipalities directly. Building costs are estimates. Once actual costs are known, GVPL invoices the municipalities. Budgeted building costs for the branch portion of the jointly-owned buildings, excluding administrative area costs that are included in the library operating budget, are as follows:

Approved by the Library Board, October 20, 2015

2016 MUNICIPAL PER CAPITA CONTRIBUTIONS

¹ Source of 2016 population figures: BC Stats website: http://www.bcstats.gov.bc.ca/StatisticsBySubject/Demography/PopulationEstimates.aspx, 2014 population estimates, accessed on August 26, 2015.

General note: Percentage share of costs by municipality are determined based on 50% property assessment value and 50% population estimate. More detailed information on assessment values and population are available on request.

FIVE YEAR FINANCIAL PLAN (Provisional) 2016 - 2020

1 - Impact of potential new branch and relocation

For new branches, this plan includes: 1) start-up funds and expenses to establish the branch for funds received from the municipality (nil impact on plan percentage increases), and 2) operating costs for branch (salaries, network, phone, utilities, supplies, program costs), which create a one-time spike in plan percentages (or over two years when branch opens mid-year, such as in the case with the Langford branch) followed by normalization of annual increases.

For the potential branch relocation, this plan includes reduced start-up costs (estimated), resulting in a nil impact on plan percentage increases and assumes no additional operating costs. Increases EXCLUDING potential branch changes would be:

Refer to additional notes on Page 2.

NOTES TO THE 2016 - 2020 FINANCIAL PLAN (Provisional)

1. This Financial Plan complies with the requirements of the Community Charter for a balanced five year financial plan and combines financial operating and capital plans. It is not in accordance with Public Sector Accounting Board (PSAB) standards.

2. Transfers from Reserves consist of:

^A 2016 represents balance of 2015 commitment ($50,000) for temporary Development Assistant position. ^B 2016 represents balance of commitment for three-year office lease ($80,000) plus proposed use of 2014 operating surplus to reduce 2016 municipal contributions ($29,475 operating fund portion of 2014 surplus of $79,669). ^C 2016-2020 budget reflects new accounting treatment confirmed by the auditor for funding and recording of Juan de Fuca MAM reserve project expenditures; figures above agree to last project budget approved by the building owners (to be updated for the Final 2016 budget to Councils).

3. New Langford branch - This plan assumes an opening date for this neighbourhood branch of April 1, 2016. The plan includes a Transfer for Start-up revenue for funds to be received from Langford and corresponding expenditures for furniture, equipment and collection, in accordance with the Library Operating Agreement (LOA) Section 8.1 (c) "Start-up". Operating costs have also been included in this plan, pro-rated in 2016, followed by a full year in 2017.

4. Potential new James Bay branch - The City of Victoria has not yet approved a capital request for this branch. This plan assumes an opening date for this neighbourhood branch of January 1, 2018. This plan includes a preliminary estimate for a Transfer for Start-up revenue for funds to be received from Victoria and corresponding expenditures for start-up.

5. Potential relocation of Esquimalt Branch - The Township of Esquimalt has initiated discussions regarding relocation of the branch in accordance with the Esquimalt Village Plan and this financial plan assumes an opening date of January 1, 2019. This plan includes a Transfer for Start-up revenue for funds to be received from Esquimalt and corresponding expenditures for furniture and equipment (no collection). No additional operating costs for the branch are included.

6. Capital Expenditures - budgets do not comply with PSAB standards for tangible capital assets: 1) the portion of the library materials budget which is capitalized is included in Library Materials Expense and not included as part of capital expenditures; 2) asset financing costs are included in the capital expenditure budget. The capital expenditures line in this five year financial plan consists of: