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The Anderson Public Library received $27,220 less but increased $381,588 in net assets in 2013, according to an audit of last fiscal year reviewed at the Nov. 19 board meeting.
The library received a positive audit from independent auditor DePrie and Adkisson of Louisville, Library Director Pam Mullins said to library trustees during last Tuesday’s meeting.
Property taxes made up 97.33 percent of total income, with state aid grants contributing the other 1.27 percent of income for the library, according to Mullins’ report included in the audit.
In July 2012 the board voted to lower its real property tax rate for tax year 2012 by 2 cents per $1,000 assessed value from 88 cents to 86 cents, and also lowered its personal property rate from $12.68 to $8.80 per $1,000 assessed value.
The lower tax rates led to less tax revenue coming in for the 2012-2013 fiscal year, Mullins said.
Total expenditures for the year were $1.32 million in total general revenue, she reported, with an increase in spending by $100,638 for one-time outplays for library supplies and capital expenditures on furniture and technology.
The library also increased in total net assets by $381,588 after paying the remainder of its building debt from the 2006 expansion, Mullins said, and the library’s fund balance increased by $50,989 in carryover funds.
Mullins also included an overview of programs and services for the library, and stated the library saw an overall circulation increase of 4 percent and an increase of more than 68 percent in digital materials. Both the number of library programs offered and attendance at library programs increased by 15 percent, Mullins reported.
Mullins also mentioned in her report the pending lawsuit filed over the way the library sets its tax rates and collects tax revenue.
“This suit mirrors several other suits filed throughout the state over the same issue,” Mullins wrote. “The suit is being vigorously contested by the library. While the suit is making its way through the court system, the library will continue to operate as normally as possible and offer the best service possible to the citizens of Anderson County.”
In the audit’s section titled “notes to financial statements,” auditors mentioned the ligitation and reported that the library has requested its suit wait on the outcome of the other legal actions against other libraries in the state as they are further along in the process.
“The library has not reached any determination of the financial impact as the case is in its early stages,” auditors wrote.
The board unanimously approved to accept the audit findings.