At its most Board of Trustees meeting, the Fayetteville Free Library (FFL) reported its financial results for the fiscal year that ended Dec. 31, 2016. The FFL reported a decrease in net assets of $5,673, while reporting total revenues of $1,869,985 compared to expenses of $1,875,658.
The results were consistent with expectations and the budget for the year, according to an FFL statement.
The most significant capital expenditure for 2016 was related to the new FFL Community Greenspace project. The project, funded entirely by a capital campaign that began in 2008, will be a greenspace area for the entire community to meet and enjoy music, programs, movies and more. The area will feature an outdoor pavilion wired for electricity and sound, as well as new landscaping and additional parking.
The audit results, certified by an independent accounting firm, showed a clean audit opinion with no issues to report to the Board of Trustees, according to a board statement.
The audit results were presented to the FFL Board for approval at its April meeting.
The entire set of FFL financial statements and the library’s required tax compliance filing with budget and tax cap supporting information is available on the library’s website at fflib.org/board-of-trustees.
Anyone seeking more detailed information about FFL policies, governance, finances and operations, contact Executive Director Sue Considine at [email protected] or call 315-637-6374 ext. 307.
