Posted on August 5th, 2011 by Sean Nelson in Finances
The Boston Public Library Trustees voted on Tuesday, August 2nd to approve the amended FY12 budget. The amended FY12 budget reflects the additional funds in the state’s conference budget designated for The Boston Public Library under the newly-named Library for the Commonwealth (formerly the “Library of Last Recourse”). With the vote, the BPL Trustees reinstated Sunday hours at the Central Library in Copley Square from October 2011 through May 2012.
Sunday hours will be restored to last year’s schedule with the Central Library being open 1-5 p.m. on Sundays, October through May, with exceptions for Sundays preceding Monday holidays.
Posted on April 14th, 2011 by Sean Nelson in Finances
On Wednesday, April 13, 2011, Mayor Thomas M. Menino presented his $2.4 billion Operating Budget for Fiscal Year 2012 and five year $1.7 billion Capital Plan, including $168.7 million in new FY 2012 project authorizations. The FY 2012 budget includes a $30.14 million appropriation for the Boston Public Library — that is less than a 1% decrease from FY 2011 funding levels.
The $2.4 billion recommended FY 2012 Operating Budget features a modest 2.5-percent growth over last year’s budget, an increase of $58.7 million. Property taxes continue to be the City’s largest source of revenue, along with hotel, meals and other excise tax revenue. The City’s second largest source of revenue, state aid from the Commonwealth of Massachusetts, is expected to decline by more than $37 million from FY 2011 budgeted levels. Another effect of the recession, state aid has consistently declined over the last 10 years, falling $218 million since 2002.
One of the biggest expenses for the City of Boston and many municipalities in the Commonwealth continues to be the rapidly rising cost of employee health care. This year, the City of Boston will spend $315 million, 13-percent of the total budget, on employee health premiums. The City’s health care expenses have increased 142-percent over the last decade, far outpacing the rate of inflation and revenue growth.
Posted on March 24th, 2011 by Sean Nelson in Finances
At their March 23, 2011 meeting, the Boston Public Library Board of Trustees approved a proposed $39.34 million budget for the 2012 fiscal year (FY12). See details on the next tab – FY12 Planning
Posted on March 9th, 2011 by Sean Nelson in Finances
The next installment of the BPL Budget Roundtable discussions will be held on Tuesday, March 15th at 6:30pm in the Copley Central Library Orientation Room (McKim Building) and on Wednesday, March 16th at 6:30pm at the Codman Square Branch Library (690 Washington Street).
The topics for discussion will include: an intro to the BPL’s Enterprise revenue, a review of FY12 revenue assumptions to date (including Trust Funds), and a review of the budget documents discussed at the February 24th and March 8th BPL Board of Trustees meetings. All attendees will be given additional packets of information and will be encouraged to participate in the Q&A period. This will be the last of the roundtable discussions before the Mayor submits the FY12 budget to the City Council.
Posted on January 24th, 2011 by Sean Nelson in Finances
Additional budget information links:
Local, state, and federal government sources
Commonwealth of Massachusetts:
City of Boston:
White House Office of Management and Budget:
Congressional Budget Office:
Independent, non-government sources of budget information
Boston Municipal Research Bureau:
Massachusetts Budget and Policy Center:
Massachusetts Municipal Association:
Center on Budget and Policy Priorities (National):