Staff Report: Greater Victoria Public Library (GVPL) 2025 Budget and Five-Year Financial Plan (cover report)

Staff Report to Council

DATE:

Monday, January 13, 2025

DEPARTMENT:

Finance

SUBJECT:

Greater Victoria Public Library (GVPL) 2025 Budget and Five-Year Financial Plan

EXECUTIVE SUMMARY:

Attached is the 2025 Budget and Five-Year Financial Plan for the Greater Victoria Public Library (GVPL). The purpose of this report is to seek a formal resolution from Council, approving the 2025 GVPL Operating Budget and Five-year Financial Plan, as requested by GVPL by May 1, 2025, as noted in the Library Operating Agreement.

BACKGROUND:

Annually, the GVPL submits their Operating Budget and Five-Year Financial Plan to the 10 participating municipalities: Central Saanich, Colwood, Esquimalt, Highlands, Langford, Metchosin, Oak Bay, Saanich, Victoria, and View Royal. In accordance with the Library Operating Agreement, a resolution of Council authorizing the Operating Budget and Five-Year Financial Plan must be received by May 1st, 2025.

COMMENTARY:

The municipal requisitions included in the attached budget submitted by GVPL total $21,846,722. This year’s requisition represents an overall increase of $1,138,939 or 5.50% over the approved 2024 budget requisition.
The municipal funding formula is calculated by way of using 50% population (BC Statistics-2023) and 50% BC Assessment values as seen in Appendix A of the attachment. It’s worth noting that due to Langford’s change in both population and assessment being higher than the average, for 2025 Langford’s funding formula increased by 0.71% to 13.38%.
As per the GVPL request attached to this report, the main budget drivers include salaries and benefits, library materials, building occupancy costs and other factors that are described in the attached 2025 budget notes.

FINANCIAL IMPLICATIONS:

As noted in page four of the attachment, the City of Langford’s 2025 GVPL requisition totals $2,941,210, which represents an increase of $317,533, or 12.10% over the approved 2024 GVPL budget. For context, this increases represents an approximate increase of 0.59% to the 2025 City of Langford municipal property taxes.

STRATEGIC PLAN ALIGNMENT:

• Good Governance: 5a – Be at the Table for Strategic Regional Discussions and Decisions
• Quality of Life: 6m – Explore Current Library Capacity and Community Needs

OPTIONS:

Option 1
THAT Council approve the Greater Victoria Public Library 2025 Operating Budget and Five-Year Financial Plan as presented.

OR Option 2
THAT Council not approve the Greater Victoria Public Library 2025 Operating Budget and Five-Year Financial Plan.

SUBMITTED BY:

Curtis Staniforth, Manager of Budgets and Revenue

Concurrence:
Michael Dillabaugh, CPA, CA, Director of Finance

Concurrence:
Melisa Miles, Manager of Legislative Services

Concurrence:
Donna Petrie, Senior Manager of Communications & Economic Development

Concurrence:
Yari Nielsen, Director of Parks, Recreation and Facilities

Concurrence:
Matthew Baldwin, RPP, MCIP, Director of Development Services

Concurrence:
Leah Stohmann, RPP, MCIP, Director of Community Planning and Climate Change

Concurrence:
Katelyn Balzer, P.Eng., Director of Engineering and Public Works

Concurrence:
Marie Watmough, Director of Legislative & Protective Services

Concurrence: Braden Hutchins, Deputy Chief Administrative Officer

Concurrence:
Darren Kiedyk, Chief Administrative Officer

Attachment:
2025 Budget and Five-Year Financial Plan for the Greater Victoria Public Library