Return on Investment Florida Public Libraries by gve10368

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									Quotes from Library Users                        Definitions

  Indispensible, essential and important to
                                                  Revenue Investment: The revenues supporting
                                                 Revenue investment: The revenues received by the                 Return on Investment
                                                   public libraries including federal, and local local
                                                 public libraries including federal, statestate andfunds;
                                                                                                                 Florida Public Libraries
  a sense of community. The library is not
  just books and buildings; it is our cultural
                                                   funds; fees cash gifts and cash gifts and
                                                 fees and fines;and fines;and donations; and funding for
                                                   donations.
                                                 multi-type library cooperatives.
  repository and vital for education.
  Without the library, the community
                                                   User Investment: investment by users users in
                                                 User investment: The The investment by in their time,
  would not be nearly as valuable and            travel, purchases, etc., necessary to usenecessary to
                                                   their time, travel, purchases, etc., public libraries
  livable.                                       or specific services. or specific services.
                                                   use public libraries
  I have rediscovered the public library this    Cost to to Use Alternatives: The estimated costs to
                                                   Cost use alternatives: The estimated costs to use
  past year and would say it is my most          alternatives to the public libraries should they cease to
                                                   use alternatives to the public libraries should
  treasured find of the year. I would            exist, and should users decide to pursue alternatives
                                                   they cease to exist, and should users decide to
  willingly pay more taxes to be able to         (measured in terms of time and other expenditures).
                                                  pursue alternatives (measured in terms of time
  access what I think is the best public
                                                  and other expenditures).
  library system around.                         Total Net Benefits to Users: The added cost to use
                                                 alternatives to the public library. This is equivalent to
  My mother lives with us full-time and
                                                   Total to use alternatives minus the user investment.
                                                 the costNet Benefits to Users: The added cost to
                                                   use alternatives to the public library. This is
  was recently put in hospice care. The
                                                   equivalent to the cost to use alternatives minus
                                                 Community economic benefits: These are benefits that
  materials, staff, and other information
                                                   the user investment.
                                                 flow from the public library such as library spending with
  available made it possible for me to gain
                                                 vendors, contractors, etc. in the state; revenues
  a lot of knowledge for learning and            generated by vendors and contractors in theare
                                                   Community Economic Benefits: These library
  performing necessary duties as a               (e.g., copying, coffee shop, gift shop) and spending that
                                                   benefits that flow from the public library such as
  daughter. Libraries are most definitely        occurs as spending with vendors, contractors, etc.,
                                                   library a result of library use (e.g., restaurants, stores,
  an ESSENTIAL PART of absolutely                coffee shops).
                                                  in the state; revenues generated by vendors and
  everyone’s lifestyle, whether they/we are
                                                  contractors in the library (e.g., copying, coffee
  aware or not.                                  Lost use benefits: Benefits derived from use that would
                                                  shop, gift shop); and spending that occurs as a
                                                 be lost if the public libraries did not exist.
                                                  result of library use (e.g., restaurants, stores,
  The library has wonderful (free!)
                                                  coffee shops).
                                                 Economic return: The results of public library use that
  children’s programs that help my toddler                                                                       The Florida Department of State’s Division of Library
  socially and intellectually.                   can be expressed in economic terms.                             and Information Services has commissioned the Haas
                                                   Lost Use Benefits: These are benefits derived                 Center for Business Research and Economic
  My family loves the library because it
                                                   from use that would be also Return on public library
                                                 Return on investment (ROI),lost if the public libraries         Development at the University of West Florida to
                                                   did not exist.
                                                 investment: The relationship between the total                  update the Florida public libraries return on
  opens a world up to us.
                                                 economic benefit and the total investment in public             investment study performed in 2004. Preliminary
                                                 libraries.
                                                   Economic Return: The results of public library                findings for a portion of this study are provided here,
                                                                                                                 with a final report to be made available to the public
                                                  use that can be expressed in economic terms.
                                                                                                                 in late spring/early summer 2010.
  For more information, contact:
  Loretta L. Flowers                              Return on Investment (ROI): The relationship                   This study has been funded under the provisions of
  Division of Library and Information                                                                            the Library Services and Technology Act, from the
                                                  between the total economic benefit and the
                                                                                                                 Institute of Museum and Library Services,
  Services                                        total investment in public libraries.                          administered by the Florida Department of State,
  850.245.6636                                                                                                   Division of Library and Information Services.
  lflowers@dos.state.fl.us
                                                                                                                                   FEBRUARY 2010
                                                                                                            The presence of a public
 Return on Investment                                                                                       library is seen as a benefit
                                                                                                                                                                                                  When asked whether they thought of
                                                                       Not sure                                                                                       Not sure                    libraries as a cultural amenity or an
                                                                                                            to property values by those
 For every tax dollar received, Florida public                                                                                                                                                    essential service, 8 of 10 adults surveyed
                                                                                                            surveyed.
 libraries in 2008 provided $8.32 in value. The                                                                                                                                                   viewed libraries as an essential service.
                                                             No difference
 value provided by Florida public libraries
                                                                                                                                                       Essential service
 increased significantly from 2004 to 2008.
                                                                        Increase
                                      2004        2008
 Total Revenue Investment             449.3        668
 (millions)                                                                                                                                           Cultural amenity
 User Investment (cost to              1.72        2.9             Decrease
 use library services) (billions)
 Cost to Use Alternatives              4.05        7.19
 (billions)                                                                                  0%         20%                  40%             60%                                        0%          20%                                    40%           60%     80%    100%
 Total Net Benefit to Users            2.33        4.29
 (billions)
 Community Economic                    447        1,149                                                                                                      Public Library
 Benefit Lost (millions)
 Lost Use Benefits (millions)           155         79                                                                                                       Police Station
 Economic Return (billions)            2.93        6.23
 Return on Investment                6.54 to 1   8.32 to 1                                                                                                                    Park
                                                                                                Social Value
                                                                                                                                                                      Not sure

 Funding                                                                                                                                                             Job Center
                                                                                                                                                                                                    A public library is the most valued
                                                                                                                                                                                                    asset that adults surveyed would
 Visits to public libraries increased over 7%                                                                                                        Elementary School                              choose for their community.
 between 2007 and 2008 while funding increased
 less than 1%.                                                                                                                                                                          0%        10%            20%                               30%     40%    50%   60%
 Nearly 90% of public library funding comes from
 local sources.       Federal              State                                             Florida Public Library Annual Revenues and Visits
                    revenue              revenue
                      0.34%                                                                  $700                                                                                             100
                                          5.06%
                                                                                  Millions




                                                                                                                                                                                                      Millions

                                                                                                                                                                                                                 Number of Public Library Visits
                                                                Annual Revenues




                                                                                             $600                                                                                             80
   Other                                                                                     $500
                                                                                             $400                                                                                             60
  funds
                                                                                             $300                                                                                             40
 (grants,
                                                                                             $200
fees, and                                                                                    $100                                                                                             20
                                      Local
  fines)                                                                                       $0                                                                                             0
                                    revenue
  4.71%
                                                                                                    97-98
                                                                                                            98-99
                                                                                                                     99-00
                                                                                                                             00-01
                                                                                                                                     01-02
                                                                                                                                             02-03
                                                                                                                                                     03-04
                                                                                                                                                             04-05
                                                                                                                                                                      05-06
                                                                                                                                                                              06-07
                                                                                                                                                                                      07-08
                                    89.89%

                                                                                                                                      Fiscal Year

                Public Library Support by Source 2008                                                               Public Library Visits                             Revenues

								
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