4 2023 Annual Report Beginning Cash Balance 1/1/2023: $ 11,280,475 Revenues Property Taxes (Medina County) $ 6,806,583 54.3% Public Library Fund (State of Ohio) 4,744,859 37.9% Fees 272,186 2.2% Investment Income 548,004 4.4% Refunds/Other 158,952 1.2% Total $ 12,530,584 100.0% Expenditures Salaries & Benefits $ 6,189,106 55.4% Supplies 157,635 1.4% Contracted Services 1,971,518 17.6% Library Materials 1,839,686 16.5% Capital & Other Expenses 168,855 1.5% Transfers to Other Funds 850,000 7.6% Total $ 11,176,800 100.0% Ending Cash Balance 12/31/2023: $ 12,634,259 Full financial report available at mcdl.info/AnnualReport. General Operating Fund MCDL Ends 2023 Debt-Free Medina County tax-payers will see a reduction in their 2024 tax bill as MCDL’s 2003, $42.3 million tax bond issue was paid off December 2023. This means county taxpayers will support their six library locations and Outreach Services at the lowest tax rates since 2002. The bond funded new construction and major remodeling/expansion of all the county libraries between 2005 and 2008. Thanks to a refinancing in 2012, the library saved $2.4 million in interest costs on the bond, a savings that was passed on to tax payers. Now MCDL only has a 1.5 mil operating levy, which collects at less than $40 a year for every $100,000 of assessed property value. Supporting Our County 9,944 snacks were provided to kids at MCDL locations in partnership with Feeding Medina County. 1,033 knitted and crocheted items were collected for Warm Up Medina County and given to local charities such as Job & Family Services, Salvation Army, Hospice of the Western Reserve, and more. 1,000 Kindergarten Kits were distributed to families preparing their children for school. 900 Caregiver Kits were distributed to new parents/ caregivers of babies and include materials to support early childhood development. Funded in part by Medina Sunrise Rotary and Ohio Early Intervention. Thank you for your generosity! Congratulations to Jenna Elswick, Human Resources Manager, and Dan Holahan, Lodi Library Manager, graduates of 2023 Leadership Medina County programs. Library Director, Julianne Bedel, graduated from Leadership Ohio. Staff Honors
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