CUTPL Monthly Financial Summary August 2016

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1 Thousands $ Thousands $ CUTPL Monthly Financial Summary August 2016 How much money does the library have in the bank? $752,998 total in all bank accounts $67,467 change from one year ago How does it compare with prior years? How much money is available for contingency spending? $319,498 in Contingency funds $56,483 change from one year ago $0 in Contingency funds spent this year The library depends on these funds to pay for equipment, improvements, major repairs, etc. These funds are very difficult to replenish. New monies are from Operating Fund transfers and interest Which funds are available for contingency spending? LIRF Humbert Gift Rainy Day $55,896 $130,250 $133,353 Are there adequate monies in the Operating and Debt Services Funds until the next property tax distribution? Typically occurs in June and December Current Balance Funds Required Current Balance Funds Required Operating Fund $285,380 $168,620 Debt Services Fund $122,122 $98,500 9/29/2016 2:35 PM Page 1 of 10

2 CUTPL Monthly Financial Summary August 2016 Is spending within the DLGF approved appropriations? Appropriation YTD Spending $581,449 $327,961 Operating Fund Appropriation YTD Spending $40,000 $0 LIRF Appropriation YTD Spending $197,000 $98,500 Debt Services Fund Rainy Day Fund Appropriation $40,000 YTD Spending $0 Operating Fund Projections Actual $306,622 YTD Receipts How do actual Operating Fund receipts and spending compare to projections? Projection Actual Projection $304,561 Receipts $2,060 higher than projected YTD Spending $327,961 $337,520 Spending $9,559 lower than projected Materials Spending What materials are being purchased? Actual Projection Databases & Software Books Periodicals DVDs, CDs, Audio, etc YTD Materials Spending $25,175 $24,630 Spending $545 higher than projected YTD Materials Spending Breakdown $2,959 $14,864 $939 $6,413 The Indiana State Library (ISL) requires a minimum of 7.5% of Operating Funds to be spent annually for materials available to patrons. Materials as % of Operating Fund ISL Minimum 7.5% Actual 7.7% Projection 7.3% 9/29/2016 2:35 PM Page 2 of 10

3 CUTPL Monthly Financial Summary August 2016 August Year-to-Date green = favorable RECEIPTS Projected Actual Difference? Projected Actual % Difference red = unfavorable Levy Excess General Property Tax $ 181,056 $ 182, % $ 1,773 Financial Institution Tax $ 32 $ 34 $ 2 Auto & Aircraft Excise Tax $ 4,693 $ 5, % $ 1,282 CAGIT Cert Shares $ 10,848 $ 10,848 $ 86,787 $ 86, % CAGIT PTRC $ 2,712 $ 2,712 $ 21,697 $ 21, % CVET $ 797 $ % $ (87) Photocopy Fees $ 200 $ 202 $ 2 $ 1,600 $ 1, % $ (213) Fines and Fees $ 600 $ 766 $ 166 $ 4,800 $ 4, % $ (83) Interest Earned $ 100 $ 137 $ 37 $ 800 $ % $ 131 Reimbursement $ 2,300 $ (2,300) $ 2,300 $ (2,300) Refunds $ 1, % $ 1,556 Misc Receipts TOTALS $ 16,761 $ 14,666 $ (2,095) $ 304,561 $ 306, $ 2,060 EXPENDITURES Projected Actual Difference? Projected Actual % Difference Salary of Librarian $ 3,638 $ 3,637 $ (1) $ 30,887 $ 30, % $ (7) Salary of Assistants $ 18,226 $ 17,509 $ (717) $ 154,358 $ 151, % $ (2,978) Salary of Janitor Employee Benefits $ 6,058 $ 5,813 $ (245) $ 50,938 $ 49, % $ (1,910) Office Supplies $ 200 $ 433 $ 233 $ 1,600 $ 1, % $ 190 Operating Supplies $ 300 $ 137 $ (163) $ 2,400 $ 1, % $ (808) R&M Supplies Other Supplies $ 150 $ 269 $ 119 $ 1,200 $ 1, % $ (4) Prof Svcs Misc $ 473 $ 5,990 $ 5,517 $ 9,140 $ 12, % $ 3,328 Prof Svcs Materials $ 1,850 $ 2,609 $ 759 $ 2,950 $ 2, % $ 9 Printing & Adv $ 10 $ (10) $ 80 $ 35 $ (45) Insurance $ 24 $ 24 $ 11,300 $ 11, % $ (42) Utilities $ 2,416 $ 2,733 $ 317 $ 23,080 $ 18, % $ (4,091) Repairs & Maint $ 1,842 $ 2,522 $ 681 $ 19,693 $ 16, % $ (3,660) Rentals $ 5 $ (5) $ 40 $ 20 $ (20) Dues $ 350 $ % $ 201 Comm & Trans $ 775 $ 1,020 $ 245 $ 5,464 $ 2, % $ (2,632) Furniture & Equip $ 300 $ 1,812 $ 1,512 $ 2,400 $ 4, % $ 2,334 Books $ 1,600 $ 1,842 $ 242 $ 12,800 $ 14, % $ 2,064 Periodicals & News $ 100 $ 206 $ 106 $ 800 $ % $ 139 Nonprinted Matls $ 1,010 $ 713 $ (297) $ 8,080 $ 6, % $ (1,667) TOTALS $ 38,953 $ 47,268 $ 8,315 $ 337,560 $ 327, $ (9,599) Difference is at least $250 more favorable than projection Difference is within $250 of projection Difference is at least $250 less favorable than projection at least $3000 more favorable within $3000 at least $3000 less favorable 9/29/2016 2:35 PM OPERATING FUND Page 3 of 10

4 2016 Projected vs Actual Receipts (Operating Fund) $250,000 $200,000 $150,000 $100,000 $50,000 Projected $14,461 $14,461 $14,461 $14,461 $14,461 $201,038 $14,461 $16,761 $14,461 $14,461 $14,461 $152,134 Actual $15,696 $14,206 $14,417 $14,215 $15,486 $203,511 $14,427 $14,666 9/29/2016 2:35 PM Chart 4 of 10

5 2016 Projected vs Actual Receipts (Operating Fund Running Totals) $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 Projected $14,461 $28,921 $43,382 $57,842 $72,303 $273,340 $287,801 $304,561 $319,022 $333,482 $347,943 $500,077 Actual $15,696 $29,902 $44,318 $58,533 $74,019 $277,530 $291,956 $306,622 9/29/2016 2:35 PM Chart 5 of 10

6 2016 Projected vs Actual Expenditures (Operating Fund) $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 Projected $40,865 $40,404 $40,259 $39,500 $45,050 $52,004 $40,490 $38,948 $42,375 $41,862 $36,965 $52,967 Actual $36,509 $35,468 $38,535 $35,428 $46,847 $51,332 $36,573 $47,268 9/29/2016 2:35 PM Chart 6 of 10

7 2016 Projected vs Actual Expenditures (Operating Fund Running Totals) $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 Projected $40,865 $81,269 $121,528 $161,028 $206,078 $258,082 $298,572 $337,520 $379,895 $421,757 $458,723 $511,690 Actual $36,509 $71,977 $110,512 $145,940 $192,788 $244,120 $280,693 $327,961 9/29/2016 2:35 PM Chart 7 of 10

8 2016 Actual Receipts vs Expenditures (Operating Fund Running Totals) $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 Proj Rcpts $14,461 $28,921 $43,382 $57,842 $72,303 $273,340 $287,801 $304,561 $319,022 $333,482 $347,943 $500,077 Rcpts $15,696 $29,902 $44,318 $58,533 $74,019 $277,530 $291,956 $306,622 Proj Exp $40,865 $81,269 $121,528 $161,028 $206,078 $258,082 $298,572 $337,520 $379,895 $421,757 $458,723 $511,690 Exp $36,509 $71,977 $110,512 $145,940 $192,788 $244,120 $280,693 $327,961 9/29/2016 2:35 PM Chart 8 of 10

9 2016 Projected vs Actual Material Expenditures (Operating Fund) $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 Projected $2,710 $2,710 $3,060 $2,710 $2,710 $2,710 $3,460 $4,560 $3,460 $7,010 $2,710 $2,710 Actual $3,250 $2,226 $2,102 $2,838 $2,719 $3,671 $2,998 $5,370 9/29/2016 2:35 PM Chart 9 of 10

10 2016 Projected vs Actual Material Expenditures (Operating Fund Running Totals) $45,000 $40,000 $35,000 $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 Projected $2,710 $5,420 $8,480 $11,190 $13,900 $16,610 $20,070 $24,630 $28,090 $35,100 $37,810 $40,520 Actual $3,250 $5,476 $7,578 $10,416 $13,136 $16,807 $19,805 $25,175 9/29/2016 2:35 PM Chart 10 of 10