Budget & Finance

Overview

New Jersey law (N.J.S.A. 40:54-8) sets the minimum funding for municipal public libraries at “1/3 mill,” or $0.333 on each $1,000 of equalized value of all assessable property in the Town. By State law, the municipality must allocate this money to the library in its annual budget. In November 2019, Mahwah voters approved a millage rate increase to “3/8 mill,” or $0.375 on each $1,000 of equalized value.  The increased millage rate will remain in place for ten years before coming up for a public referendum.

2023 Budget Note

With the passage of Mahwah’s Library Referendum in November of 2019, the Library is writing the next chapter in its history of serving this vibrant community.  The 2023 budget carefully aligns the Library’s expanded tax appropriation with the collections, programs and new services requested by residents and approved by the Board of Trustees in the long-range Strategic Plan.  A deliberate return to in-person programs, combined with maintaining a outstanding physical collections, especially online collections, ensure that our services remains vital and relevant to residents.  

2023 Adopted Budget

Budget Category20222023
BudgetBudgetChange
Income
4200 Municipal Appropriation $ 2,440,187 $ 2,792,143 14.4%
4300 NJ State Aid $ 14,000 $ 14,000 0.0%
4400 Interest
4400 Interest $ 1,000 $ 2,000 100.0%
4500 Grants,Gifts & Donations $ 9,000 $ 7,000 -22.2%
4600 Patron Revenue $ 42,390 $ 60,650 43.1%
4700 Miscellaneous Revenue $ 1,250 $ 1,500 20.0%
4800 Unemployment Reserve $ 1,000 $ 1,800 80.0%
Income $ 2,508,827 $ 2,879,093 14.8%
Expenses
5000 Salaries and Withholdings $ 1,275,000 $ 1,450,000 13.7%
5100 Personnel Benefits $ 391,125 $ 415,288 6.2%
5200 Library Materials
–5210 Books $ 136,000 $ 146,500 7.7%
–5220 Audio-Visual $ 53,000 $ 57,000 7.5%
–5230 Periodicals $ 6,500 $ 6,500 0.0%
–5240 Digital & Online Resources $ 101,000 $ 115,000 13.9%
–5250 Library of Things $ 11,500 $ 15,000 30.4%
5200 Library Materials $ 308,000 $ 340,000 10.4%
5300 Programming $ 102,500 $ 113,500 10.7%
5400 Operating Expense $ 181,971 $ 204,795 12.5%
5500 Professional Service $ 20,000 $ 26,000 30.0%
5600 Fixtures, Furnishings & Equip $ 8,000 $ 8,000 0.0%
5700 Building & Grounds $ 142,233 $ 121,510 -14.6%
8000 Capital Projects $ – $ 200,000
Expenses $ 2,428,829 $ 2,879,093 18.5%
Net Operating Income $ 79,999 $ 0 -100.0%

2023 Operating Budget by Category

Recent Audits

The Library values integrity and acts with honesty and fairness as it conduct its business.  As part of the Library’s commitment to transparency and open government, audit results are posted for public review.