FINANCIAL STATEMENT
Ritter Public Library receives its main income from the following areas:
1. Property Taxes (tax levy)
2. State Public Library Fund (PLF)
3. Ritter Fund Interest
4. Interest on investments, fines, copy machine fees, etc.
Property taxes (levy funds) make up about half of the revenue for the library. Levy funds are vital for the operation and success of Ritter Public Library. Ohio’s Public Library Fund (PLF), which makes up 46% of the library’s revenue, is based on monthly General Revenue Fund (GRF) tax revenues (sales tax, personal income tax, and Commercial Activity tax). Each month, the PLF currently receives 1.7% of the state’s total tax revenue that goes into the GRF.
Ritter Public Library focuses the majority of its spending on Public Service and Programs, which includes staffing, the purchase of research and entertainment materials, digital content and programming. The library’s daily operation, maintenance and processing costs make up the remaining 40%. All of the funding that goes to Ritter Public Library is essential in the library’s ability to serve the community to its full potential. Ritter Public Library always strives to serve the community in the best possible way.
Updated February 16, 2023