Finances & Budget

Category Archives: FY16 Budget

FY16 Budget Planning Timeline

Posted on January 23rd, 2015 by edonaghey in Finances, FY16 Budget

The following draft* budget planning timeline was shared at the January 13 meeting of the library’s Board of Trustees.

  • January: City reports on preliminary information regarding FY16 budget planning
  • January 13: BPL Board of Trustees meeting;  FY15 budget, FY16 potential costs
  • Mid/Late February: Possible special Board of Trustees meeting on budget if needed
  • March 4: Governor releases FY16 budget recommendation, including proposed Library for the Commonwealth funding and State Aid to Public Libraries
  • March 17: BPL Board of Trustees meeting; vote on recommended budget
  • April 8: Mayor’s recommended FY16 budget is submitted to City Council
  • Mid April: Massachusetts House of Representatives Ways & Means Committee releases FY16 budget recommendation
  • May: City Council Ways and Means Budget Hearing
  • Mid May: Massachusetts State Senate Ways & Means Committee releases FY16 budget recommendation
  • May 14: BPL Board of Trustees meeting; update on FY16 recommended budget
  • Mid/Late June: State’s Conference Committee releases FY16 budget
  • July 1: FY16 budget is in effect

*This bulleted list is for discussion purposes only and is subject to change.

At the Janaury 13 meeting of the library’s Board of Trustees, David Sweeney, CFO for the City of Boston, provided an overall assessment of the City’s financial picture. Mr. Sweeney stated that while there is a strong economic outlook, the City needs to proceed cautiously as fixed costs are growing more quickly than revenue. The City must also look to fund new initiatives within the current budget. Mr. Sweeney’s office will work closely with library staff in the development of the FY16 budget. All city agencies must submit FY16 preliminary budget information to the City’s Office of Management and Budget on January 20. The Mayor’s budget will be submitted to the City Council’s Committee on Ways and Means on April 8 as noted above.

FY16 Capital Projects

Posted on January 22nd, 2015 by admin in Finances, FY16 Budget

As reported at the January 13 meeting of the library’s Board of Trustees, current capital project requests include work for the Jamaica Plain, Dudley, and Parker Hill branches as well as continuing support for the Central Library Renovation, energy projects, McKim plaza drainage and waterproofing, and infrastructure projects in FY16 and years following. Security, the Archival Center, Johnson building roof, signage, and technology needs are also included in the capital requests. Next steps for the Roslindale and Faneuil branches, as well as a slate of other branch projects, remain under review for the full five-year capital plan. An increase to the annual critical repair line item, as well as the mechanical systems analysis systemwide, as a complement to the Branch Facilities review, is also in the plans.