Uncategorized

TORONTO (May 29, 2013) – The Toronto Public Library Board met on May
27 at the Toronto Reference Library. Key topics discussed include:

Library Gift Card

At
its November 2012 meeting, the Board requested that the Library investigate the
viability of a Toronto Public Library gift card as a revenue generating
opportunity. After reviewing the Library’s report, the Board approved using
the Library’s existing Quick Print card as a value card rather than creating a new
gift card because of the associated cost and limited opportunities for
redemption.

2012 Audited Financial Statements

The
Board approved the Library’s 2012 audited financial
statements
which had an unqualified opinion from external auditors. In 2012, there was an
operating budget surplus of $5,703,487 which was returned to the City. The
capital budget was 73% expended, and the unexpended amount of $8.0 million has
been included in the 2013 capital funding from the City as a carry-forward.

-30-

Media contact:

Ana-Maria Critchley, 416-393-7212, media@torontopubliclibrary.ca