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Accountability and Transparency <br />® Levy Promise: To ensure accountability and transparency, the measure <br />specified provisions including: separate levy fund budget and accounting <br />(as per state law); annual staff summary of spending and performance measures; annual <br />review by the citizen Library Advisory Board; and an annual City Manager's report to <br />City Council. <br />Prior to the levy, EPL's level of service was supported by $10.6 million per year from the <br />City of Eugene's General Fund (FYI 6), plus donation funds. <br />The Library Local Option Levy is set at $2.7 million per year for five years, in accordance <br />with state law restrictions aregarding how levies are structured. <br />FYI 7 Levy Funds <br />Total Revenue: $2,559,486 <br />Total Expenses: $1,627,590 <br />For this first year, expenses were intentionally held below available revenue. Some FYI 7 <br />funds have been reserved as part of budget planning for the full five years. While the levy <br />will provide the same amount of revenue every year, spending will increase each year due <br />to continued expansion of services as well as inflation and other factors. Funds are being <br />budgeted in order to ensure the ability to fulfill levy promises throughout the full five years <br />Total Library Expenditures FYI 7 <br />General Fund: $10,719,521 <br />Levy Funds: $1,627,590 <br />Miscellaneous Trust : $265,334 <br />U © 541-682-5450 <br />www.eugene-or.gov/library <br />• - - Public <br />Library <br />