Isn’t the Library a publicly supported organization?
The Kenton County Public Library is an independent taxing district funded primarily through a Kenton County property tax. Additional funding is obtained from the state, from overdue material fines, interest income, donations and various other sources. By Kentucky law, the Library Board of Trustees is limited to increasing the previous year’s tax income by 4%. Already minimal, revenue from the state of Kentucky has been reduced as a result of state budgetary constraints. Interest income is approximately half the amount received in previous years. Approximately 60% (two per cent less than the national average for public libraries) of the Library’s annual operating budget of $7.4 million supports professional staffing, benefits, and insurance. The remaining funding supports programs, outreach, and services to the Northern Kentucky region.
Why does the Library need private support?
Whereas the day-to-day operations of the Library are funded by local property taxes (92% of the total operating budget comes from tax revenue), the demand for Library services continues to increase more rapidly than revenue from public taxes, thereby straining the Library’s budget and limiting its ability to provide necessary services.
What is the purpose of the Foundation?
In order to fund capital projects and initiatives the Library has organized the Kenton County Public Library Foundation. The Foundation is a 501c3 non-profit organization that stimulates voluntary financial support for the Library from the private sector in order to enhance programs and assist with financing special projects. Members of the Board of Directors are elected and serve three year terms. The Foundation Board meets six times a year, but also convenes through the following committees:
Special Grant Projects
Public Relations and Marketing
Finance, Investments and Endowment
Foundation Donor Programs