Library Board Could Face $80k Shortfall(posted Oct 5) Speedway Public Library Board members were hit with a bleak financial forecast that may cause the board to dip into investments to continue operations. Library Director Darsi Bohr said the fall tax distribution to the library could be as much an $80,000 shortfall. She advised the board to take a wait and see approach first before thinking about cutting services. The board has about $322,000 in investment funds to cover the shortfall instead of borrowing money like other government entities. She said the shortfall has to do with the property tax crisis where all of the government entities are operating from a 2007 budget but with 2006 revenues. This is due to the Governor's action to allow property taxpayers pay the 2006 tax bill while a reassessment takes place. The library's 2007 budget is four percent higher than the 2006 budget. The 2008 budget of $861,266 is about four percent higher than the 2007 budget of $826,815. The tax rate was .1025 per $100 assessed valuation. She said the 2006 budget was $793,000 and the 2006 tax rate was .0992 per $100 assessed valuation. The reassessment is not supposed to be completed until February 2008. This will determine how the difference will be accounted for. The board commended Bohr for saving money. Board member Jamie Dillard said that was not always the case where they could rely on investments to pay the bills during financial problems. Board member Katie Patterson noted the board has been in rough times before when the Allison abatement took effect in 2006. Bohr also reported that a man stole a pipe fixture from the men's urinal while the woman entered the women's restroom to steal the sanitary napkin containers. The police do have a description from the video cameras. Bohr also reported that a $7,200 LSTA grant will be used to purchase Jaws and Magic software for the public computers. JAWS vocally reads the screen for the seeing impaired and Magic magnifies the computer screen for the seeing impaired. She also noted that Speedway Lions Club gave the library a similar software program a few years ago. She said it is helpful to the visually impaired that want to read the local newspaper and other literature. The board acknowledged that they have not heard further information from the Speedway Redevelopment Corporation about potential plans to move to Main Street. The board does not think Main Street would be a good location. Patterson contended more people would have to drive to reach Main Street. The board preferred the library to stay at its current location where they have room to expand. Board member Robert Stewart said farewell to the board members as he will not seek reappointment. |