2011-12 Annual Report - Curtis Memorial Library

Brunswick Public Library Association
FINANCIAL SUMMARY 2011-2012
Income
Operations - Part One
Town of Harpswell 114,988 9.0%
Town of Brunswick 1,079,855 84.5%
Town of Brunswick R&M $7,500 0.6%
Earnings 21,058 1.6%
Fees 52,911 4.1%
Other 2,012 0.2%
Total Income, Operations $1,278,324 100.0%
Expenses
Personnel 1,025,526 79.0%
Services & Programs 51,222 3.9%
Facilities, Equipment, Insurance, Utilities 140,577 10.9%
Professional Services 8,237 0.6%
Equipment Replacement/Other 72,510 5.6%
Total Expenses, Operations $1,298,072 100.0%
Net Operations** -19,748
Note: Basic library operations
(personnel, building, basic library services) are
supported primarily through municipal
funding, fees, and earnings from the library’s
endowment earmarked for operations.
These are reflected in the Part One budget.
** Each year Curtis sets aside any unbudgeted
excess of operating revenues over
expenses and designates that excess as a
replacement reserve. This accumulated
reserve allowed the library to undertake a
major information technology upgrade in
2012. The negative revenue shown on the
reported statements reflects the amount
of this accumulated reserve used for this
expense, in the line Equipment
Replacement/Other.
Income
Earnings (endowment/other) 66,300 26.5%
Annual Fund (for the library collection) 95,662 38.2%
Grants (FINRA, Senter Fund) 35,634 14.2%
Community Health Information
Partnership (CHIP) 8,000 3.2%
Cornerstones of Science (COS) 4,209 1.7%
Curtis Friends donation for adult & children's
programming, collections 40,540 16.2%
Total Income, Restricted $250,345 100.0%
Restricted - Part Two
Note: All donations, earnings from restricted
investments, and fundraising not specified for
operations are included in the Part Two budget.
Income over expenses is carried over
from year-to-year to be spent for the intended
purposes. Expenditure of restricted income
is applied strictly according to the donors’
wishes.
Expenses
Collections 128,409 53.2%
Library Programs 9,426 3.9%
Friends Expenses 3,239 1.3%
FINRA Grant Expenses 44,931 18.6%
CHIP 3,141 1.3%
COS 11,745 4.9%
Development 27,527 11.4%
Other 13,098 5.4%
Total Expenses, Restricted $241,516 100.0%
Net Restricted 8,829
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