The majority of the library’s funding comes from local property taxes. Voters approved a 1 mill operating fund in perpetuity on August 2, 1994 (this millage has been reduced to .8755 due to the Headlee Amendment). On August 2nd, 2022, Redford Township voters approved a 2 mill operating for a period of 20 years. The library’s fiscal year is April 1st – March 31st.
Budget (2023-2024)
Revenue:
Taxes |
$2,905,000.00 |
Penal Fines |
$30,653.00 |
State Aid |
$50,201.00 |
Service Fees |
$22,785.00 |
Investment Earnings |
$277,994.00 |
Miscellaneous |
$30,000.00 |
State Sources |
$243,172.00 |
Bond Proceeds |
$8,965,271.00 |
Total
|
$12,525,076.00 |
Expenses:
Personnel |
$1,509,300.00 |
Contractual services and books |
$426,190.00 |
Operating Costs |
$396,246.00 |
Capital Outlays |
$9,050,000.00 |
Debt Service |
$264,000.00 |
Total
|
$11,645,736.00
|
Previous Fiscal Years