Voters approved a 2-mill increase on the November election ballot 1,207 to 630, with 65.7 percent of voters approving the levy. According to library board members, the increase will cost homeowners about $2.65 per month, for a $200,000 home, and businesses about $9.66 a month.
Board members approved the library district’s 2017 budget on final reading at their meeting Dec. 8.
Though the library had to cut its budget over the past year, board members were optimistic about the future.
“It looks like we’ve managed a difficult year really well,” board member Jacqueline Doyle said. “We’re hoping to reach parts of the community we haven’t been able to reach (in 2017).”
Total library revenues for 2017 are expected to be $443,072, with a beginning fund balance of $293,232. Total expenditures are estimated to be $439,964, with a library operating budget of $283,584. The library will pay $125,480 for debt service payments, and spend $30,900 in capital expenses, including $13,000 in new books, audio, and video.
The board cut about $83,000 from the library’s budget over the last five years year. Doyle said there is not much more they could cut.
The district’s ending unreserved fund balance for 2017 is expected to be $100,210. Doyle, who is board treasurer, said the district will have to focus on revenues and building up its reserve funds.
Library officials also are planning to refinance the district’s $1.5 million in debt next year. Library director Lee Hallberg said he hopes that will take place by March.
While the mill levy approval was a great win for the district, it was only part of the equation, Doyle said. Refinancing the debt is also key to getting the district’s finances back on track, Hallberg said.
Hallberg said the minimum wage referendum would have drastic effects on the library’s wage budget in the next three or four years. State voters in November authorized a measure that will mandate raising Colorado’s minimum wage to $12 per hour by 2020. The current minimum wage is $8.31 per hour.
Board members also expressed interest in reaching out to the community to find a larger and more diverse library clientele. Hallberg said he had preliminary staff discussions about offering more programming for Native Americans, and hoped to expand those programs in 2017.
Doyle said since 35 percent of people voted against the mill levy increase, the board needs to figure out why they voted that way and how the library might better serve those people.
Also at the meeting, Hallberg reported that about $1,100 had already been raised for the 2017 Cowboy Half Marathon. Organizers are still looking for a title sponsor for the event, he said.
jacobk@the-journal.com
