New Canaan Library's finances
Published 11:18 am, Friday, April 11, 2014
As is common for public libraries in Southwestern Connecticut, the building and grounds of the New Canaan Library are owned by an association and not the town.
The library's budget for fiscal year 2014 is $2.6 million, which includes a $1.94 million town grant. Though it's called a grant, the money given by the town is taken from the general fund every year.
Another large portion of the revenue comes from the library's annual fundraising efforts. During the 2014-15 fiscal year, library officials expect to bring in about $415,000 from fundraising.
In January, the library requested an 8.3 percent increase in the town grant for the 2014-15 fiscal year, but the boards of Selectmen and Finance later recommended an increase of 5 percent, which would add $96,844 to the library's operating budget. In 2013-14, the town did not approve an approximate $74,000 requested increase for the library.