The Worthington Libraries Board of Trustees unanimously approved a comprehensive 2026 operating budget totaling approximately $31.6 million at their November 18 meeting, marking a significant milestone in the library's financial transparency efforts.
A New Era of Budget Transparency
The 2026 budget comes packaged in a new, visually appealing budget document that Chief Financial Officer Jeremie Stevens has been developing over the past year. The document replaces the previous memo format with detailed graphs, charts, and narratives that connect spending to the library's strategic plan.
"What you're approving today is still just a spreadsheet, but the budget document really is replacing the memo that we previously had," Stevens explained. "So much more detailed graphs, charts."
The new format ties each budget allocation back to the library's four strategic focus areas: storytelling, human connection, social justice, and sustainability. Board member Kyla Dembowski praised the document's clarity, calling it "a nice kind of visual and summary" of the five-year financial forecast that helps community members understand what may be ahead for the library in terms of levies.
Both the budget spreadsheet and the new comprehensive document are now available on the library website.
Budget Breakdown by Fund
The approved appropriations for 2026 include:
- General Fund: $30,039,854
- Building Fund: $764,000
- Technology Fund: $398,945
- Termination Benefits/27th Pay Fund: $314,879
- Unclaimed Monies Fund: $5,000
- Friends Foundation Grant Fund: $91,425
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Financial Outlook and Levy Planning
Stevens reported that 2027 "is really looking like the right year" for a potential levy — meaning the library could be asking voters to approve property tax funding around that time based on current financial projections. No formal decisions have been made. The library's master facility plan has been incorporated into the 2026 budget, and the five-year financial forecast is now featured across multiple library publications.
The forecast graphic first appeared in the library's Popular Annual Financial Report (PAFR)—a reader-friendly summary of library finances designed for the general public—then in the quarterly newsletter, and now in the comprehensive budget document.
"Getting this out there," Stevens said, "really encapsulates where we are and where we're going financially."
Late-Year Revenue and Investment Performance
As the library moves through the fourth quarter, revenue from property taxes has naturally slowed—a standard seasonal trend since the bulk of tax revenue arrives by the end of the third quarter. Despite this, investment income remains strong. The library generated approximately $61,000 in investment income during October. To ensure the library meets year-end threshold requirements, Stevens reported that staff are strategically transferring funds from US Bank investment accounts into STAR Ohio accounts.
Board President Joan Herbers asked about historical investment performance, and Stevens agreed to bring a comparison to a future Finance Committee meeting.
2025 Revenue Adjustments
The board also approved Resolution 110225, decreasing 2025 estimated resources by $182,301 to reflect adjustments including:
- State tax (Public Library Fund): decrease of $73,352
- General property tax levy: decrease of $109,843
- Homestead rollback tax: decrease of $894
Stevens explained this is a routine fourth-quarter adjustment as property tax revenues are largely collected by the end of the third quarter.
Looking Ahead
The budget document represents "phase one" of Stevens' vision for financial transparency, with plans to potentially submit the budget to the Government Finance Officers Association (GFOA) for their Distinguished Budget Presentation Award in future years.