SOURCES OF LIBRARY REVENUE, FY 2002-2003:

In the 2002-03 fiscal year, the Santa Cruz City-County Library System anticipates total revenues of $10,469,853. This money comes from three sources: the sales and use tax ($5,875,831), member contributions specified in the Library Joint Powers Agreement ($4,026,463), and miscellaneous other amounts, including interest, bequest income, fees and fines, and a State allocation ($567,559). In addition, carry-overs from the previous fiscal year will be available, and the Library is the recipient of various grants totaling no more than $225,000.

The Library Financing Authority allocates the sales and use tax and the member contributions to the City-County Library System and the Watsonville Public Library based upon a population formula that is part of the Library Joint Powers Agreement. This year, the amount is $48.65 per capita, and the Santa Cruz System's adjusted population share is 203,943 people, or 78.38% of the total population and thus total allocation.

The funds allocated by the Library Financing Authority come from the following sources:

SOURCE OF REVENUE	AMOUNT
MEMBER CONTRIBUTIONS: City of Santa Cruz @ $1,394,751 City of Watsonville @ $541,684 County Library Fund @ $3,200,670	$ 5,137,105
SALES TAX REVENUE	$ 7,496,595
INTEREST	$ 25,000
TOTAL	$ 12,658,700

The member contributions of the Cities of Santa Cruz and Watsonville come from those cities' general funds. They are frozen at the 1996-97 fiscal year level. The County Library fund is property tax, designated for library service, collected in the Unincorporated Areas and in the Cities of Capitola and Scotts Valley. The County Library fund can and does increase each year.