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2005–2022 · THE STATE BOARD OF ACCOUNTS' OWN FIGURES
Indiana audits this library the way it audits a county, and the audited figures give the institution its modern scale: a million-dollar-a-year library, holding nearly two million in cash and investments, with one bond issue on its books. The earliest figure this section carries is the library's own: a budget of $582,593 for 2005, stated in its staff manual — the Michigan Street building's last years ran at roughly half the present scale. The audited present comes from the financial statement audit for January 1, 2021 to December 31, 2022 (Crowe LLP, under State Board of Accounts review, report dated August 17, 2023), whose statement of receipts and disbursements this section read whole: the operating fund took in $953,396 in 2021 and $1,006,232 in 2022, growing its balance from $962,812 to $1,193,387 across the two year-ends; all funds together received $1,141,150 in 2021 and $1,309,242 in 2022; and the library closed 2022 holding $1,950,751 in cash and investments, of which $706,194 sat in the rainy day fund. The debt is a single line in the audit's schedule of leases and debt: general obligation bonds issued for renovation, $990,000 of principal outstanding at December 31, 2022, with $70,000 due within the year, serviced through a debt service fund that moved $93,125 out in 2021 and $95,075 in 2022. The fund architecture behind those figures is the packet's own list — operating, library improvement reserve, gift, rainy day, and the bond and interest redemption fund of the 2013 bylaws, which the modern statements carry as the debt service fund — the same money under the newer name, printed here as each document carries it. The auditors' opinion on the regulatory basis was unmodified. What the figures describe, plainly, is a small library in an uncommonly strong position: reserves approaching two years of operating receipts, a single manageable bond issue, and a tax base of one township that has never, in any examination this section reached, failed to fund it.
Principal sources: State Board of Accounts, Financial Statement Audit Report, January 1, 2021–December 31, 2022 (statement of receipts, disbursements and balances; schedule of leases and debt; schedule of capital assets — read whole); the library's Staff Manual (the 2005 budget, in its words); the library's orientation packet (the fund list, read whole).