2024 Library Budget 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 City. By State law, the municipality must allocate this money to the library in its annual budget.
The 2024 Hoboken Public Library budget carefully aligns the City of Hoboken’s tax appropriation with the vision of the Library as a community hub for all residents as approved by the Board of Trustees in the three-year Strategic Plan. The 2024 budget supports the mission of the Plan to create a Library that connects people with each other, ideas, and opportunities to support lifelong learning, personal growth, and community development.
2024 Adopted Hoboken Public Library Budget
INCOME
2023
2024
Change
Municipal Appropriation
6,010,867
6,326,591
5%
Grants
–
120,000
–
State Aid
30,000
20,000
-33%
Interest
20,000
25,000
25%
Patron Fees
5,000
5,000
0%
Donations
5,000
25,000
400%
Total Income
$ 6,070,867
$ 6,521,591
7%
EXPENDITURES
Personnel
……….Salaries and Wages
3,188,000
3,220,158
1%
……….Benefits
1,380,000
1,502,000
9%
Total Personnel
4,568,000
4,722,158
3%
Reading, Information & Technology
628,000
668,000
6%
Community Engagement
160,000
205,000
28%
Facilities & Maintenance
450,867
563,433
25%
Library Supplies & Administration
136,000
195,000
43%
Professional Services
128,000
168,000
31%
Total Expenditures
$ 6,070,867
$ 6,521,591
7%
Recent Audits
The Hoboken Public Library values integrity and acts with honesty and fairness as it conducts its business. As part of the Library’s commitment to transparency and open government, recent audit results are posted here for public review.
Posted 6/26/2024 -PM; content by CH