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Budget Crunch Fact Sheet <br />Great River Regional Library, October 2002 <br /> <br />At its meeting on October 8, the GRRL Board of Trustees approved measures to be taken for finan- <br />cial year 2003 to bring GRRL expenses within the adjusted budget. The budget has been adjusted <br />because GRRL will have less revenue and greater expenses than anticipated. · GRRL will receive less aid from the State of Minnesota. <br /> · GRRL will have larger expenses than anticipated because of increased property and health <br /> insurance costs. <br /> <br />The GRRL approved 2003 budget already includes the use of $100,000 from cash reserves. The <br />additional budget shortfall because of the above factors is estimated to be $53,500. At this time, <br />that means a total shortfall of $153,500. There may be additional revenue shortfalls and/or cost <br />increases that we will know about later this year. <br /> <br />The measures approved by the Board to meet this budget challenge were proposed by the adminis- <br />tration after information gathering with staff. They are: <br /> <br />1) Close all GRRL libraries on Thursday, December 26 and Friday, December 27, 2002. (The pay- <br /> roll for these days is met from the 2003 budget.) Close Friday, November 28 and Saturday, <br /> November 29, 2003. Estimated savings: $53,500. On days when the library is closed, all services <br /> of GRRL will be unavailable, including the library's web site and online catalog. All staff will lose <br /> their wages for the hours that they would normally be scheduled to work those days. Staff will not <br /> be allowed to take those days as vacation days, and they will not be allowed to reschedule their <br /> hours. In this way, staff and library patrons will share the consequences of this budget crunch. <br /> <br />2) Do not increase the materials budget above the 2002 amount as planned. Estimated savings: <br /> $8,444. <br /> <br />3) Establish a fundraising team. This team will attempt to raise enough money that it will not be nec- <br /> essary to implement all or some of the above measures. <br /> <br />GRRL has no plans to close buildings and no plans to lay off staff. <br /> <br />10/02 <br /> <br /> <br />