The majority of the library’s funding comes from local property taxes. Voters approved a 1 mill operating fund in perpetuity in 1994. Due to the Headlee Amendment, this has been reduced to .9006. On August 2nd, 2022, Redford Township will be asking residents to approve 2.000 mills for operational and capital projects for a period of 20 years. This replaces a 1.400 mill operating millage and a .6600 mill debt millage that was last levied in 2021. For budgeting purposes, the figures below represent the .9006 mills and 2.000 mills levy. The library’s fiscal year is April 1st -March 31st.
Budget (2022-2023)
Revenue:
| Taxes |
$2,600,677.00 |
| Penal Fines |
$30,000.00 |
| State Aid |
$41,000.00 |
| Service Fees |
$20,000.00 |
| Investment Earnings |
$0.00 |
| Miscellaneous |
$30,000.00 |
| State Sources |
$50,000.00 |
| Appropriation from Fund Balance |
($201,279.00) |
Total
|
$2,570,398.00 |
Expenses:
| Personnel |
$1,411,103.00 |
| Contractual services and books |
$408,640.00 |
| Operating Costs |
$423,355.00 |
| Capital Outlays |
$327,300.00 |
| Total |
$2,570,398.00 |
Previous Fiscal Years