At Bloomington Public Library, we provide value to the community every day.
In fiscal year 2019,
The Library's Mission:
Library Budget in Brief FY2021: 05/01/2020-04/30/2021
To provide our diverse community with a helpful and welcoming place that offers equal access to the world of ideas and information and supports lifelong learning.
The Budget Process:
Per the Illinois State Law, the Bloomington Public Library has a nine-member governing board appointed by the Mayor and Council. The law specifies that library taxes are to be "levied by the corporate authorities in the amounts determined by the board and collected in like manner with other general taxes of the city, village, incorporated town or township and the proceeds shall be deposited in a special fund, which shall be known as the library fund" and "expenditures from the library fund shall be under the direction of the board of library trustees." In order to allow the Council to make an informed decision when approving the library tax levy, the Bloomington Public Library develops and adopts the relevant budget in advance.
The Library has three funds: a Maintenance and Operating Fund, a Fixed Asset Fund, and a Capital Reserve Fund.
The Maintenance and Operating Fund is used to cover our payroll and material purchases until we receive our tax revenue from McLean County. Financial experts suggest that we keep 25 percent, or three months of the annual budget, in this fund. This fund would also be used to cover unanticipated building or other expenses.
The Fixed Asset Fund is restricted for fixed asset items such as replacement of computers, the Bookmobile, shelving and furniture.
The Capital Reserve Fund is our "savings account" for the future to pay for much needed expansion of access to the services the Library provides to the community and/or major repairs to our existing building.
"There's empirical evidence that usage tracks investment. If libraries receive more public funds, more people use them. And if governments invest less in its libraries (as they have since 2009), fewer people visit—though the drop-in visits from disinvestment isn't as strong as the rise from investment would be."1
1 Meyer, Robinson. "Fewer Americans Are Visiting Local Libraries-and Technology Isn't to Blame." The Atlantic, 14 Apr. 2016, www.theatlantic.com/technology/archive/2016/04/americans-like-their-libraries-but- they-use-them-less-and-less-pew/477336/.
"Libraries will get you through times of no money better than money will get you through times of no libraries." - Anne Herbert, The Next Whole Earth Catalog