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In the 2004-05 fiscal year, the Santa Cruz City-County Library System anticipates total revenues of $10,829,891. This money comes from three sources: the quarter cent sales and use tax ($5,736,292) collected throughout Santa Cruz County, member contributions specified in the Library Joint Powers Agreement ($4,278,883), and miscellaneous other amounts, including interest, bequest income, fees and fines, grants for special projects, and a State allocation ($814,716).
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 $49.21 per capita, and the Santa Cruz System's adjusted population share is 203,641 people, or 78.25% 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 | SANTA CRUZ SHARE |
|---|---|---|
| MEMBER CONTRIBUTIONS: City of Santa Cruz @ $1,394,751 City of Watsonville @ $541,684 County Library Fund @ $3,531,786 |
$ 5,468,221 | $ 4,278,883 |
| SALES TAX REVENUE | $ 7,330,725 | $ 5,736,292 |
| INTEREST | $ 8,000 | $ 6,260 |
| TOTAL | $ 12,893,424 | $ 10,021,035 |
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.
Here is how the Library Budget is allocated:
| PERSONNEL | $ 7,518,433 |
| LESS SAVINGS @2.5% | $ (187,961) |
| SUPPLIES & SERVICES | $ 2,236,061 |
| LESS SAVINGS @3% | $ (67,082) |
| DEBT REPAY, #2 & #3 | $ 275,905 |
| CAPITAL PROJECTS | $ 147,883 |
| SPECIAL EQUIP. ALLOCATION | $ 15,000 |
| RESERVE FUND | $ 85,000 |
| FIRST 5/READ TO ME GRANT | $ 215,887 |
| SUBTOTAL | $ 10,239,162 |
| CITY CHARGE @ 5.5% | $ 563,152 |
| TOTAL | $10,802,278 |
11/18/04