How do you plan to make the necessary savings?
The library service needs to reduce its overall budget by £1.5 million by the end of 2016/17, as part of the Council’s overall need to reduce its budget by £110 million. £200,000 has been saved in 2014/15 by the rationalisation of the mobile service.
In 2015/16, we expect to find the necessary savings of £400,000 from a combination of:
- Not filling non-frontline management vacancies
- Anticipated reductions in the running costs of Barnstaple Library
- Generating increased income from Exeter Library
- Identifying savings with the community pilots.
A full business case will be prepared by the end of 2014, identifying how the further £900,000 savings will be made in 2016/17 and indicating the potential to save money from a new organisation, such as a trust or mutual. The initial financial benefit would be savings on business rates of at least £400,000. In addition, a new operating model based on a charitable entity would be able to access funding and income, which the library service currently cannot access.