Meridian Library District Approved Budget
|
Fiscal Year 2022-2023 Amended |
Fiscal Year 2023-2024 Original |
|
| GENERAL FUND | ||
|---|---|---|
| REVENUE | ||
| Property & Sales Tax Revenue* | $7,893,567 | $8,244,061 |
| Non-Tax Revenue | $639,700 | $306,750 |
| Total Revenue | $8,533,267 | $8,550,811 |
| EXPENDITURES | ||
| Personnel | $4,450,000 | $5,214,850 |
| Collections | $923,000 | $999,435 |
| Operating Expenses | $1,418,930 | $1,897,809 |
| Capital Expenses | $200,000 | $348,872 |
| Transfer Out - Capital Projects Fund | $216,659 | $89,845 |
| Transfer Out - To Capital Repair & Replacement Fund | $664,678 | $0.00 |
| General Fund - Six Month Reserve | $660,000 | $0.00 |
| Total Expenditures | $8,533,267 | $8,550,811 |
| General Fund - Six Month Reserve | $4,000,000 | $4,000,000 |
| Capital Repair & Replacement Fund | $5,955,781 | $5,955,781 |
| General Fund Balance | $9,955,781 | $9,955,781 |
| CAPITAL PROJECTS FUND | ||
| REVENUE | ||
| BEGINNING BALANCE | $2,621,912 | $2,954,241 |
| Plant Facilities Levy Revenue | $1,400,000 | $1,400,000 |
| Capital Projects Interest | $95,670 | $76,500 |
| Capital Projects Fund Grants & Donations | $250,000 | $160,000 |
| Finance Proceeds | $0.00 | 1,500,000 |
| Transfer In - From General Fund | $216,659 | $89,845 |
| Total Revenue | $1,962,329 | $3,226,345 |
| EXPENDITURES | ||
| Orchard Park Project Costs | $1,630,000 | $0.00 |
| South Branch Project Costs | $0.00 | $5,818,728 |
| Total Expenditures | $1,630,000 | $5,818,728 |
| Capital Projects Fund Balance | $2,954,241 | $361,858 |
| Total Fund Balances | $12,910,022 | $10,317,639 |
* Fiscal Year 2024 Property Tax Levy includes forgone recovered of $166,817; $89,845 in capital forgone to be used on South Branch capital equipment and $76,972 in operating forgone to be used in general operations.
Capital Repair and Replacement Fund to be expended for Cherry Lane renovations estimated to be completed in FY 2026.
Capital Projects Fund to be expended to complete the South Branch capital project in FY 2024 and Cherry Lane renovations estimated to be completed FY 2026.