Why spend savings? Ask for a 10 year Library millage !

Hi All,

A new millage for the Bloomfield Township Library most likely will be approved to be put on the ballot for the  November 2014 election at the: 

Board of Trustees meeting on Monday, Aug. 11, 2014 @ 7 pm        The library issue is agenda # 3.

Here is the proposed language for the Library Millage:
This information is from the Bl. Twp. Board of Trustees board packet for the Aug. 11, 2014 meeting which will give you the details for ALL agenda items for the evening.


 

 INFORMATION ABOUT THE BLOOMFIELD TOWNSHIP LIBRARY

• According to the Library minutes, the  CURRENT revenue expected for fiscal year 2014-2015 is:  $5,092,459

• According to the Library minutes, the CURRENT expenditures expected for fiscal year 2014-2015 is: $5,434,253.   ( $341,794 more than expected revenue collected.)

• The LIBRARY FUND, therefore, would be used to cover the difference between revenue and expenditures.  As of March 2014, the Library Fund balance was more than $1.6 million. 

• HOWEVER, if the above proposed millage passes in November, an additional revenue of approximately $1,756,000 will be added EACH year for the next ten years beginning in 2014.  

• For this 2014-2015 fiscal year that would adjust the library revenue to: $6,848,459. 

• Assuming the expenditures will remain the same.... and IF the millage passes:  Instead of using $341,794 from the Library Fund to balance the library budget, the Library budget will benefit from a millage that will produce that $341,794 currently needed and an EXCESS amount of $1,414,206  available to bank in the Library Fund before the fiscal year end on March 31, 2015.   This "banking the excess funds" will happen each year for ten years....potentially.

MAJOR QUESTION:  
As taxpayers ...  is now the time to take money out of your bank account to fatten the bank account of the Library Fund?  


INFORMATION FROM THE LIBRARY MINUTES  giving info. about library finances...

• The Library Board knew back in March 2014.... that the budget for the Library needed adjusting...  see the March 18, 2014 minutes....    Find a large portion of the minutes from this meeting copied at the end of this blog...  

• So, knowing in March the financials, why did the Library Board wait until the day after the August 5, 2014 elections to hold a special meeting to declare they need/or should I say...want more revenue? Why did they skip the August election in favor of the November 2014 election? 

• Well, the Library Board did inquire in April about ballot elections... but were apparently NOT encouraged to put their ballot issue on the August 5, 2014 ballot.  Why?  Was the township leadership afraid of having too many millages on the ballot?  They listed 4 of their own.    I wonder, how many people took part in the meeting mentioned in the below minutes?

From the Library minutes from April 22, 2014:

• Why might the Library be having budget problems?  Is it investment returns/pension costs/health benefits/life insurance/wages/other?  

 From the May 20, 2014 Library minutes:

• Did a new law affect the timing of the millage proposal?  Not sure.

From the  June 17, 2014 Library minutes:

• Finally, in June, the Library Board discusses the possibility of putting a millage proposal on the November ballot.  Who do they hire?  None other than the same Mitchell Survey company that the Township hired for their August ballot proposals survey.  I wonder how much money the Library authorized for this survey? 

From the June 17, 2014 Library minutes:

• The library minutes from July 15, 2014 are not posted. Here is the link to the video where Rochelle V. from ? presents the library audit  followed by a group from Schwartz and Co. discussing financial investments.    
• However, the library minutes and a video of the special meeting on Aug. 6, 2014 where the library Board decided to ask for a millage on the November ballot are NOT on the library website. 
• Neither are the library minutes and a video from a special meeting held on June 30, 2014.  I will assume the board met with Steve Mitchell about hiring him to do a survey.   The exact same company that did a survey for the township @ a cost of $13,000.   How much did the Library pay for the survey and where are the results?
• Library Reports2014 Audit2014-2015 Library Budget Overview2013-2014 Annual ReportBTPL-Powerpoint-Presentation-To-Board
   

• Here are some minutes from 3/18/14 Library Board   that discusses the financial state of the library at the end of the fiscal year 2013-2014... and numbers for setting the budget for 2014-2015.

     

**I used data from these 3/18/14  library board minutes in the library budget numbers above**