City of York Council will sign over the running of all York’s libraries and archives to a new “community benefit society” from April 1.

You shouldn’t read too much into that date: it is the start of the authority’s financial year.

Under the deal, the city’s libraries and archives will be run by a mutual society, the Explore Libraries and Archives Mutual. This will be mainly funded by the council, but will operate independently and will be jointly owned by staff and residents. It will be eligible for tax breaks not available to a council-run service.

The city council is aiming to save £450,000 over three years on library spending. But it stresses library users should not notice any difference as a result of the move to a mutual.

Unions have concerns. But the model being adopted seems broadly similar to that used with the city’s museums a decade ago.

That has worked well. We very much hope this does too. If not, questions will assuredly be asked. Our libraries are too important to be put at risk.