The Board of Trustees of the Frankfort Public Library District recently approved a tax levy reduction of $98,028 or 4.6 percent.
The levy reduction will decrease taxes by approximately three dollars per district resident during the 2012-2013 fiscal year, according to Pierre Gregoire, Director of the library district. Those tax dollars will then be applied in the district's 2013-2014 fiscal year.
“We’re trying to be responsible with what we levy while maintaining a high level of service,” said library board President Keith Ogle.
Gregoire said that the 4.6 percent levy reduction was possible because the district will use 2011-2012 tax dollars to make the final bond payments on a 13-year, $1.2 million referendum. The 1998 referendum covered the building costs for the western half of the library.
The library district’s 2013-2014 budget will not be determined until April. However, Gregoire said that the board is currently initiating a strategic planning committee to reassess library service with a focus on maximizing technology.
The district budget for the 2012-2013 fiscal year is approximately $2.1 million and the general fund is approximately $1.7 million.
The library board also recently completed the annual audit for the 2010-2011 fiscal year. During the audit, the board discovered a positive balance of $139,115 in the library general fund. This balance occurred because money was unnecessarily designated to cover maintenance and construction fees.
The funds in the positive balance were used to reconstruct the library’s aging parking lot and repaint the building’s exterior. Additional plans are being considered to replace the library’s 14-year-old carpet and update its interior.
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