Library’s 2019 Budget Guides the New Year

by John Krueger, Trustee, Estes Valley Library

The budget of the Estes Valley Library District encapsulates the priorities, commitments, goals and aspirations that guide our year-round service to the community. It’s one of the most important tools to assure we honor our priorities and do so as responsible and transparent stewards of public funds.

In my role as Treasurer for the Library Board of Trustees, I am mindful of how important the budget process is. The 2019 Budget was officially adopted by the Board of Trustees at our December 10 meeting. Both the Budget and the accompanying Budget Message are available online. Click here to view the Official Budget. Click here to view the Budget Message.

While that final budget was the result of many months of planning and study, its guiding principles go back even further. The 2019 budget priorities are aligned with the Library’s Strategic Plan adopted earlier this year. Moreover, the five key strategic goals of the Comprehensive Plan were the result of careful listening to community needs—including your crucial feedback gathered in the 2017 Library Satisfaction Survey (also available online).

Several key highlights are worth noting in the context of Library budgeting as we enter the new year:

As always, adherence to the budget is tightly woven to policies. The Board of Trustees’ finance policy articulates parameters for district income and expenses, ensuring prudent fiscal management. Library staff adhere to these financial curbs and reporting standards.

Budget planning is also guided by the Library’s 10-year strategic funding plan, which helps better assure continuity of services within year-to-year revenue fluctuations. Surplus revenues are held in the Long-Term Operating Reserve to help meet future operating expenses.

In 2019, property values in the district are projected to increase, keeping the district on track with our 10-year financial plan. In addition, a minimum Capital Replacement Reserve has been designated for facility maintenance and improvement expenditures.

Tax revenues allow us to operate a good library. Philanthropic donor support raises the good to great. We’re thankful for the support of the Library’s Friends & Foundation, which accounts for 6% of the District’s total revenue in 2019, providing vital support for strategic goals:

• Focus on Early Literacy
• Enable Lifelong Learning
• Enable a Greater Sense of Community
• Deliver Materials on a Personalized Basis
• Grow Internally to Succeed Externally

The Library is woven into our civic well-being, elevating our quality of life for all ages. I’m honored to serve on the Library’s governing Board, and to be among the community of enthusiastic Library donors. Thank you all for your feedback on the benefit of the services we offer, and for your patronage of this hometown library.