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In the 2007-08 fiscal year (beginning July 1, 2007), the Santa Cruz City-County Library System anticipates total revenues of $12,988,455. This money comes from four sources: the quarter cent sales and use tax collected throughout Santa Cruz County, property tax receipts dedicated to library services, "maintenance of effort" contributions specified in the Library Joint Powers Agreement, and miscellaneous other amounts, including interest, bequest income, fees and fines, grants for special projects, a State allocation, and carryover funds from the previous fiscal year.
The Library Financing Authority allocates the first three sources 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. Santa Cruz System's adjusted population share is 204,435 people, or 77.40% of the total population and thus the total allocation. Its share of the total revenue from these sources is $11,648,715. This works out to $56.98 per capita.
The funds allocated by the Library Financing Authority come from the following sources:
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.
In addition, the Library System anticipates $313,055 in fines, other miscellaneous revenues, and bequest income, $118,436 from the State Public Library Foundation program, $842,375 in carryover funds from the previous fiscal year (due to unexpectedly high 4th quarter revenues), and grant revenue.
| SOURCE OF REVENUE | AMOUNT | SANTA CRUZ SHARE @ 77.40% |
% of Total |
|---|---|---|---|
| SALES TAX REVENUE | $ 8,364,984 | $ 6,473,764 | 55.73% |
| COUNTY LIBRARY FUND | $ 4,709,549 | $ 3,645,191 | 31.00% |
| MEMBER CONTRIBUTIONS: City of Santa Cruz @ $1,394,751 City of Watsonville @ $541,684 |
$ 1,936,435 | $ 1,498,800 | 13.00% |
| INTEREST | $ 40,000 | $ 30,960 | 00.27% |
| TOTAL | $ 15,050,020 | $ 11,648,715 |
Here is how the Library Budget is allocated:
| FY 2006-07 | FY 2007-08 | |
|---|---|---|
| PERSONNEL | $ 8,707,213 | $ 8,753,470 |
| LESS SAVINGS @ 3% | ($ 174,104) | ($ 262,604) |
| SUPPLIES & SERVICES | $ 2,478,599 | $ 2,857,871 |
| LESS SAVINGS @ 3% | $ (49,572) | $ (85,736) |
| GRANTS, FIRST 5 | $ 74,815 | $ 65,873 |
| LSTA TUITION GRANT | ||
| DEBT REPAY, #2 & #3 | $ 89,561 | - |
| WATSONVILLE PAYBACK | $ 50,334 | $ 52,422 |
| CAPITAL EQUIPMENT & PROJECTS | $ 292,430 | $ 115,625 |
| FELTON BRANCH ARCHITECTURAL SERVICES | $ 30,000 | |
| ILS UPGRADE PHASE 1 | $ 144,700 | |
| ILS UPGRADE PHASE 1.5 | $ 130,900 | |
| APPROPRIATION TO RESERVE FUNDS | $ 100,000 | $ 425,000 |
| ESTIMATED MOVING EXPENSE | $ 250,000 | |
| SUBTOTAL | $ 11,872,876 | $ 12,171,921 |
| CITY CHARGE ESTIMATE | $ 653,008 | $ 669,456 |
| TOTAL | $12,525,884 | $12,841,377 |
| SURPLUS/(DEFICIT) | $ 342,374 | $ 147,078 |
07/9/07