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Money Matters – For Pennsylvania Libraries

Money Matters – For Pennsylvania Libraries. Introduction. Money to pay for library services comes from the local, state and federal levels. Overview. Funding sources Grants Fundraising Developing a budget Service standards Audits . Lesson Objective.

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Money Matters – For Pennsylvania Libraries

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  1. Money Matters – For Pennsylvania Libraries

  2. Introduction Money to pay for library services comes from the local, state and federal levels

  3. Overview • Funding sources • Grants • Fundraising • Developing a budget • Service standards • Audits

  4. Lesson Objective • Describe the sources of library funding • List the components of fundraising • Identify budget planning steps By the end of this lesson you will be able to:

  5. Library Income By Source 2003 PA Library Statistics

  6. Income Sources • Local government income • Library Code, appropriates general operating funds • Board requests funds from municipality • Usually done in a budget • Budget represents needs, describes services

  7. State Funds & Aid • Statewide Library Card Program • Quality Libraries Aid • Incentive for Excellence Aid • County Coordination Aid

  8. State Funds & Aid • District Library Center Aid • Statewide Library Resource Center Aid • Equal Distribution Grant • Equalization Aid

  9. Local Financial Effort • State Subsidy designed to: • Stimulate local financial support • Provide reliable level of quality service • Augment local support • Requires minimum $5 per capita commitment

  10. Maintenance of Local Funding • State aid does not replace local dollars • By law, local financial effort must: • Equal or surpass amount spent previous year • Local gov’t income cannot decrease from previous year

  11. When local support and state aid are not sufficient, trustees work for a better local base and increased state funding.

  12. Grants • LSTA – The federal contribution • IMLS distributes funds to states • Commonwealth’s Five-Year Plan, 2003-2007 • Awards competitive grants based on goals

  13. Grants • Philanthropic and non-profit organizations • Foundation Center of New York City • 10 cooperating collections in PA • Pennsylvania Foundation Directory • Available at District Center Library

  14. Fundraising • Art and a science • Requires huge commitment by board • Libraries often hire a consultant

  15. Fundraising • Make a commitment of support, time, money • Provide leadership • Leverage community contacts • Develop plan and establish goals • Establish a campaign committee Trustees must be prepared to:

  16. Components of a Campaign • Establish committee and chairperson • Identify need, develop case statement • Create giving tree with projections • Create campaign solicitation and acknowledgment • Conduct research, identify donors

  17. Components of a Campaign • Decide on solicitation technique • Design public relations program • Establish infrastructure to manage • Design stewardship program

  18. Create a budget that: • Is realistic • Reflects needs of library • Reflects goals and objectives • Secures financial support and program stability

  19. Developing a Budget • Begin well in advance of deadlines • Evaluate the old budget • Staff and public input • Arrange for budget meetings • Talk about salaries early in project

  20. Developing a Budget • View each item as a purchaser • Earmark funds for new program • Compare budget to goals and objectives • Project next year’s problems • Review documents for selling points

  21. Developing a Budget • Don’t hide the budget • Make a presentation • Prepare for next year • Consider it time well spent • Talk to funding authorities all year long

  22. Standards • Minimal level of service for state aid • Base from which libraries can grow • In accordance with the Library Code: • Standards for local libraries, district centers, and library systems have been established

  23. Standards • Counseling local libraries on minimum standards on: • Number and quality of library staff • Resources of books and other materials • Hours, facilities Library Code Charges Commonwealth Libraries and Librarian with:

  24. Standards • Library governance • Materials, expenditures • Staff, service, facilities

  25. Standards • They are minimal! • Establish a floor for service • Attached to eligibility for state aid • State aid does not replace local support • Help with standards is available from: • District Library Center • Bureau of Library Development

  26. Audits • Required by regulation • Independent auditors • Generally Accepted Auditing Standards • Frequency chart in your toolkit

  27. Group Exercise

  28. Resources • Your District Library Center • Institute of Museum and Library Services www.imls.gov • Pennsylvania’s LSTA funds www.statelibrary.state.pa.us • Foundation Center www.fdncenter.org

  29. REVIEW • Variety of library funding sources • Federal, state and other grants • Fundraising requires huge commitment • Budgets reflect goals and objectives • State aid is tied to standards

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