Fiscal Year Fiscal Year 2008 Budget2008 Budget

Circulation 2001-2006

4,000,000

5,000,000

6,000,000

7,000,000

8,000,000

9,000,000

FY 01 FY 02 FY 03 FY 04 FY 05 FY 064,000,000

5,000,000

6,000,000

7,000,000

8,000,000

9,000,000

FY 01 FY 02 FY 03 FY 04 FY 05 FY 06

83%Increase

Property TaxReform

Status Quo for FY 2008=

Actual Millage Rate .4325

“Rolled-Back” Rate .3864

Less 3 % Reduction

(.0116)

Maximum Proposed Rate

.3748

13.3% Reduction from FY 2007 Rate

Millage RatesFY 2007 FY 2008

Tax Calculation Example

FY 2007 FY 2008

Assessed Value $250,000 $257,500

Homestead Exemption $(25,000) $(25,000)

Taxable Value $225,000 $232,500

Millage Rate X .4325 .3748

(Per $1,000 of Taxable Value)

Library Tax $97.31 $87.14

Dollar Savings $10.17

% Savings 10.5%

Operating Fund Revenue Summary

FY 2007 FY 2008 Change

Taxes 35,375 35,853 478

Intergovernmental 1,592 1,252 (340)

Charges for Services 215 215 0

Fines & Lost Materials 1,520 1,625 105

Miscellaneous 1,099 1,277 178

Reserves (Fund Balance) 1,725 1,304 (421)

Total 41,526 41,526 0

Operating Fund Expenditures Summary

FY 2007 FY 2008 Change

Salaries & Benefits 20,287 21,838 1,551

Operating 9,891 10,241 350

Capital Outlay 1,401 200 (1,201)

Materials (Books, CDs, DVDs) 4,970 4,837 (133)

Transfers to Other Funds

4,977 4,410 (567)

Total 41,526 41,526 0

FTE’S 365 373

Fiscal Year 2008 Priorities

• $4,000,000 for branch expansion

• $4,800,000 for library materials

• $300,000 for personal computers

• $100,000 for Open Source software

Branch Expansion- Plan

• $4,100,000 of fiscal year 2007 budget dedicated for branch expansion

• Based on this annual level of funding goal was to construct 3 new branches over 8 years

• Priorities: Chuluota Road + SR 50

Chickasaw Trail + SR 50

Moss Park + Narcoossee Road

Branch Expansion- Status

• Resources

– Fiscal year 2007 $4,100,000

– Fiscal year 2008 $4,000,000

– Fiscal year 2009 & beyond (Depends on PTR) ????

• Expenditures

– Chickasaw property ($2,550,000)

– Chickasaw remodel design (A/E) ($50,000)

Available $5,500,000

Chickasaw Property

Branch Expansion- Future• If “Super Exemption” amendment passes, ability to

pay Chickasaw annual operating costs is a serious concern

• Should $5,500,000 be spent to remodel and equip Chickasaw

• Should $5,500,000 be used to acquire land for future branch sites

• Design process to remodel Chickasaw put on hold

Library Budget Public Hearings

FIRST September 10th 5:01 pm

SECOND September 18th 5:01 pm

Recommendations

Approve FY 2008 tentative budgets for the Orange County Library

District

Approve FY 2008 tentative millage rate of .3748 for the Orange County Library District

Questions

?

Fiscal Year Fiscal Year 2008 Budget2008 Budget