Free Library of Philadelphia
 
FREE LIBRARY OF PHILADELPHIA
  FY 2003
7/1/02 – 6/30/03
 
OPERATING SUPPORT AND REVENUE*    
City General Fund $ 35,741,127  
State Grant Funds $ 10,558,995  

Total support and revenue
___________
$ 46,300,122
 
   
OPERATING EXPENSE  
Salaries and benefits $ 34,208,875  
Library collections and materials $ 6,885,229  
Facility leases, furnishings, maintenance $ 2,199,848  
Technology purchases and support $ 1,077,014  
Training and other professional services $ 657,560  
Office supplies, postage, and printing $ 817,313  
Other expense $ 454,283  
Total expense ___________
$ 46,300,122
 
 
*Revenues may include encumbrances and/or appropriations from prior fiscal years, using the modified accrual and cash basis of accounting permitted by municipal accounting standards.  
FREE LIBRARY OF PHILADELPHIA FOUNDATION
  FY 2003
(7/1/02 - 6/30/03)
 
OPERATING SUPPORT AND REVENUE  
Contributions and grants $ 2,508,357  
State grants and City capital appropriations 619,856  
Fees and library services 1,242,117  
Short term interest 74,537  
Sale of books and publications 1,487,756  
Investment return designated for operations 892,350  
 


Total operating support and revenue

__________
$ 6,824,973
 
     
OPERATING EXPENSE    
Library services:

Public programs

$ 2,889,688  

Circulating materials and collection preservation

404,174  

Technology

398,263  

Facilities renovations

267,934  
Administration and finance 1,052,325  
Development, membership, and communications 1,047,025  
   

Total operating expense
__________
$ 6,059,409
 
LONG TERM INVESTMENTS AND ENDOWMENT
Long term investments and endowment at market value
7/1/02
$ 16,337,342
Dividends and interest 366,729
Net realized gains/(losses) -955,237
Net unrealized gains/(losses) 1,187,819
Investment return designated for operations -892,350
Contributions and other additions to long term investments 444,442

Long term investments and endowment at market value
6/30/03
___________
$ 16,488,745
 
CHANGE IN TOTAL NET ASSETS
Net assets at beginning of year, 7/1/02 $ 22,057,778
Total change in net assets, 7/1/02 - 6/30/03 704,313
   

Net assets at end of year, 6/30/03
__________
$ 22,762,091
   
The complete audited financial statements and report of the independent certified public accountants are available upon request.