The Olds Municipal Library came in with a surplus of $32,650.85 on revenues of $498,162.07 for 2012. The figures were delivered on March 19 during the library board's annual general meeting.
"The positive thing with that was that in order to balance our budget this year we had to use the surplus, so if we didn't have a surplus, then we wouldn't have been able to balance this year's budget,î said Lesley Winfield, the library's manager.
The downside, Winfield said, is that rather than put that money in reserves, it had to go toward balancing the budget, the same as the previous two years.
Going forward, Winfield said having to continuously put surpluses towards balancing the library's budget means the library will need to find a sustainable level of funding in order to keep programs going.
"We have been trying to use our reserves so it isn't such a big hit on the tax base over the past three years but eventually Ö we won't want to probably use our reserves next year, if we can. Hopefully we'll be able to work with (town) council on coming up with a strategy for that,î she said.
Winfield said the library created a lot of new programs over the past year, including one aimed at children up to age three to increase their literacy skills as they get older.
Program participation increased to 5,790 participants ñ a 95 per cent increase from 2011. The library partnered with Olds College last year during the college's Hort Week which drew many out-of-town people to the library, had several authors come to the library to do readings, and more programs in general were offered. Winfield said the two-year-old building has been a boon to the library in its participation rate.
"The fact that we have 66,000 visitors is just huge for us. Before we had (44,530) and now we're up to 66,000,î she said.
Monica Andrew was returned to the chair of the library board for one more year, while Lucinda Watkins was selected as vice-chair. Beth Hoskins was named the secretary while Linda Svailing will retain the treasurer's role for one more year.
