Presentation on theme: "Taxpayer Return on Investment in Florida Public Libraries Dr. José -Marie Griffiths October, 2004."— Presentation transcript:
Taxpayer Return on Investment in Florida Public Libraries Dr. José -Marie Griffiths October, 2004
Study Purpose Identify: –the economic contribution – return on taxpayer investment –of Floridas public libraries
Background Literature review Environmental economists REMI
Methods Took a conservative approach to estimating benefits and returns thus the results can be considered a lower bound. The return-on-investment (ROI) and benefit to cost ratios (B/C) in this report are at least those reported.
Methods Used a variety of data collection and analytic methods including –data reported to the state by the libraries –a statewide household telephone survey of adults –in-library user surveys of adults –a follow-up survey of the libraries –surveys of organizations –an input-output econometric model
Household Interviews/ In-Library Survey Collected information about: –cost to use the library –services used –reasons for using the services –importance of the services; ways the services were important –what visitors would do to obtain the needed information if there were no public library – likely cost in time and money to use the alternatives
Organization Survey Determined: –use of public library services –cost to use these services –savings resulting from service use
Follow-up Survey Obtained some information about: – use by tourists and school age children – interlibrary lending and borrowing –expenditures and income – business-like operations run by the library, outside persons or vendors.
Recreational Uses total of 19.2 million uses 65 percent were in-person visits 35 percent were remote Internet connections to the libraries. In 59 percent of the visits, the users had something specific in mind.
Benefit/Cost Ratios The B/C (Availability) of Floridas public libraries is 5.2 to 1. – $2,331.922 million ÷ $448.903 million = 5.2 The benefit (B) to the state (in terms of availability of Floridas public libraries) is $2.3 billion, measured as the total cost to use alternatives, if the public libraries did not exist. The cost (C) is $449 million.
Benefit/Cost Ratios The B/C (Use) of Floridas public libraries is 7.2 to 1. – $3,211.219 million ÷ $448.903 million = 7.2 The benefit (B) to the state (in terms of time and money saved through use of Floridas public libraries) is $3.2 billion. The cost (C) is $449 million.
B/C REMI The B/C REMI (Wages) is 5.0 to 1 –The benefit (B) to the state (in terms of wages) is $9.2 billion. The cost (C) is $1.83 billion. The B/C REMI (GRP) is 3.7 to 1 –The benefit to the state (in terms of GRP or output) is $6.7 billion. The cost (C) is $1.83 billion.
Floridas Public Libraries Return $6.54 for every $1.00 Invested
Dr. José-Marie Griffiths Dean, School of Information and Library Science University of North Carolina at Chapel Hill Email: email@example.com@unc.edu Web: http://ils.unc.edu/sils/http://ils.unc.edu/sils/ Phone: (919) 962-8368