RTM Budget Agenda - DAY 4 Final Action (linked)

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Waterford Public Library, Inc. audit - attached

TOWN OF WATERFORD
FY2025 BUDGET REQUEST
DEPARTMENT: Waterford Public Library
BUDGET FUNCTION
The Waterford Public Library is a town-owned and supported institution maintained for the benefit of the
townspeople. By resolution of the Representative Town Meeting to the Town of Waterford, dated August
7, 1967, it was designated to be the Principal Public Library of the Town of Waterford. It is operated by
the Board of Trustees of the Waterford Public Library, Inc. The Board of Trustees consists of twelve citizens
of Waterford. The first selectman, the chair of the RTM Education Committee and the chair of the RTM
Finance, Wage & Personnel Committee are ex-officio board members.
The Waterford Public Library is a non-partisan, non-sectarian institution dedicated to serving the public
in the areas of education, information and recreation, making its services known and available to all.
The Waterford Public Library, Inc. is a nonprofit corporation with an endowment fund, the income of
which is used toward the operation expenses of the Library, supplementing the annual appropriation of
the Town. The board’s contribution pays for the following:
e Over 80% of new physical library materials for all ages, including books, audio books (digital and
on CD), DVDs, magazines, music CDs.
Subscription access to e-books, e-audiobooks, e-magazines, streaming videos and music.
Subscription access to online databases.
All library programs for adults, children and teens, including related promotional materials.
Furniture, equipment and building improvements, other than capital projects and repairs to
building systems and infrastructure.
e Staff attendance at professional conferences, training workshops and continuing education.
e Dues and memberships in professional organizations.
Mission
The newly revised mission of the Waterford Public Library is to enrich, educate and connect our
community through discovery and access to ideas, information, technology and entertainment.
FY2023 Highlights
In May of 2023, the library celebrated its 100" anniversary of continuous service to the Waterford
community. We marked the occasion with a series of special programs and a family fun fair that attracted
over 600 attendees. Most of these events and activities were supported with funding from M&T Bank.
Other highlights included the refresh of the library’s mezzanine by removing unused book shelves,
installing new carpeting and creating new study and reading spaces for the public. Thanks to a bequest,
the library installed two outdoor sets of Adirondack chairs. We added museum passes for the Connecticut
River Museum and the Mashantucket Pequot Museum & Research Center; created binge bag collections
of themed DVDs; and introduced a new Wonderbook “read-along” collection for children. We also
launched a new virtual author series that features three to four bestselling authors online each month.
The library grew its e-news subscriber list to its current level of 1,365, we have 2,853 followers on
Facebook and 1,062 on Instagram. All are important tools for marketing and outreach to the community.
This fall, as part of a statewide pilot cohort with a shared consultant, the library developed a new strategic
plan that will guide our operations for the next three fiscal years. The draft version of this plan is included
in this packet. Our board of trustees will be voting on this draft at its January meeting.
The library staff, our board of trustees and our 6,925 cardholders very much appreciate the ongoing
support provided to the library for the benefit of residents and library users by the Town of Waterford.

TOWN OF WATERFORD
FY2025 BUDGET REQUEST
DEPARTMENT: Waterford Public Library
DRAFT STRATEGIC PLAN
Strategic Plan: Fiscal Years 2025 — 2027 DRAFT
Our Purpose: The mission of the Waterford Public Library is to enrich, educate and connect our
community through discovery and access to ideas, information, technology and entertainment.
Our Vision: The library aspires to be a welcoming center for a vibrant community. Working together, we
will create an inclusive and thriving Waterford.
The Library is a place of
e Belonging
e Connection
e Discovery
e Education
Belonging — The Library welcomes all and fosters an inclusive environment.
Goal #1: Serve as a community hub and provide a welcoming space, open to all.
Goal #2: Support and develop the open exchange of diverse perspectives and ideas.
Goal #3: Identify and serve marginalized populations.
Goal #4: Actively seek and listen to community feedback and incorporate input into library services.
Connection — The Library builds relationships.
Goal #1: Provide excellent and equitable customer service.
Goal #2: Foster community engagement and discussion.
Goal #3: Develop spaces for learning, engagement and collaboration.
Goal #4: Discover, cultivate and grow community partnerships.
Discovery — The Library supports innovation and curiosity.
Goal #1: Strengthen community awareness of the library’s collections, programs and services.
Goal #2: Incorporate new technologies to increase access.
Goal #3: Adapt new tools and techniques to encourage discovery, innovation and creativity.
Goal #4: Provide opportunities for engagement beyond the physical walls of the library.
Education — The Library provides resources for lifelong learning.
Goal #1: Develop and maintain robust collections that reflect the diversity of our community and the
world.
Goal #2: Provide access to ideas, information, technology and entertainment.
Goal #3: Offer engaging and informative programs for all ages.
Goal #4: Promote school readiness with early literacy initiatives for both children and caregivers.

TOWN OF WATERFORD
FY2025 BUDGET REQUEST
DEPARTMENT: Waterford Public Library
BUDGET SUMMARY
TOWN OF WATEFORD
GENERAL FUND
2024 -2025
DEPT/AGENCY: WATERFORD PUBLIC LIBRARY
2023/2024 2024/2025
oe DEPT/AGENCY | DEPT/AGENCY
ITEM DESCRIPTION REQUEST REQUEST
PERSONNEL COSTS
51110 ADMINISTRATION 96,212 100,837
51210 CLERICAL/TECHNICAL 693,918 728,795
51220 CUSTODIAL-MAINTENANCE 87,131 93,336
51810 OVERTIME-SUNDAY 8,250 150
51910 FRINGE BENEFITS 0 0
51920 FICA (7.65%) 67,130 70,619
SUBTOTAL 952,641 993,737
|
SERVICES
52020 POSTAGE 366 264
52070 REIMBURSABLE EXPENSE 830 720
SUBTOTAL 1,196 984
|
MATERIALS & SUPPLIES
53010 OFFICE SUPPLIES 4,000 450
53020 OTHER SUPPLIES 4,000 5
SUBTOTAL 8,000 455
|
EQUIPMENT
54160 | | BOOKS/RELATED MATERIAL 45,000 11,661
SUBTOTAL 45,000 11,661
= TOTAL 1,006,837 1,006,837

TOWN OF WATERFORD
FY2025 BUDGET REQUEST
DEPARTMENT: Waterford Public Library
BUDGET EXPLANATIONS BY CATEGORY
51000 SALARIES SERIES
Detailed information on salaries can be found in the Personnel Worksheet included in the packet.
Personnel costs are calculated for a fiscal year with 261 working days (52.2 weeks) for FT staff. Calculations
were made based on the wage schedules approved by the RTM at its December 4, 2023 meeting. The
minimum wage/library page rate reflects the state minimum wage.
We are committed to controlling personnel costs. We analyze staffing and usage patterns to make
efficient and effective use of personnel at all levels. We re-evaluate all positions as staff members resign
or retire, update job descriptions and replace staff only when necessary. Over the past several years, we
eliminated positions, zeroed out the clerical and technical substitute budget, reclassified positions and
reallocated duties and responsibilities. Additionally, cross training has enabled us to fill short-term gaps
due to illness, vacation, attendance at off-site meetings, programs and professional development.
51110 ADMINISTRATION $100,837
This line reflects the compensation for the director based on the current non-union management
professionals wage schedules.
51210 CLERICAL/TECHNICAL $728,795
This line reflects the compensation for four professional librarians (MP) and twelve clerical/technical
staff (AS) — full time and regularly scheduled part-time staff, and four library pages. Also included are
longevity increases for six full-time employees. Eight part-time staff will receive annual half-step
increases.
51220 CUSTODIAL/MAINTENANCE $93,336
This line includes the full-time building and grounds manager and two part-time evening and week-
end custodians. These employees are responsible for cleaning and maintaining the library building,
grounds, and mechanical systems and ensuring a safe, clean, sound, secure environment for customers
and staff by sanitizing public and staff areas and workstations and periodic deep cleaning.
51810 OVERTIME/SUNDAY HOURS $150
Overtime support of $150 is requested for maintenance and/or custodial work in case of a building,
natural disaster, or weather related emergency. Due to budgetary constraints, for FY2025, we are
eliminating Sunday service hours.
51920 FICA $70,619
FICA has been calculated at 7.65%, per Board of Finance guidelines, and is included in the Personnel
Worksheet.

TOWN OF WATERFORD
FY2025 BUDGET REQUEST
DEPARTMENT: Waterford Public Library
BUDGET EXPLANATIONS BY CATEGORY (CONTINUED)
52020 POSTAGE 
$264
Postage costs include:
e In FY23, we mailed 563 pieces comprised of 335 overdue notices and 228 pieces of library
business mail (bill payments, etc.). At this point over 95% of our overdue notices are transmitted
via email. In addition, with the institution of automatic renewals and the elimination of most
categories of overdue fines, our mailing costs have decreased. The trustee budget pays for all of
our fundraising mailing expenses.
e To date, in FY24, we have mailed 159 pieces of mail, 79 of which are overdue notices.
e For FY25, we are anticipating mailing 400 pieces at the current of 66 cents.
Expended FY2023 - $344 Expended FY2022 - $330 Expended FY2021 — $324
52070 REIMBURSABLE EXPENSE $720
As the library does not have a fleet vehicle, this line item is used to reimburse the building and grounds
manager for work-related mileage, i.e., trips to the Quaker Hill book drop, vendors, courier runs, etc.
Mileage for the last three years has averaged 1,195/year. For the first quarter of FY24, 260 miles have
been logged. Therefore, for FY2025, we are anticipating 1,100 miles using the current federal
reimbursement rate of 65.5 cents, we calculate our annual cost to be $720.
Expended FY2023 - $778 Expended FY2022 - $716 Expended FY2021- $632
53010 OFFICE SUPPLIES $450
This line item covers library-specific office supplies, which include vendor pre-processing of books,
item and customer barcodes, spine labels, repair tape, book covers, video and audio jewel cases, and
receipt paper for the circulation desk and self-check station. With the library’s membership in a
cooperative for purchasing library supplies at discounted prices, the support of the town’s purchasing
agent and streamlined processes and procedures, we have been able to maintain this line item at the
current level of $4,000 or less since 2008. In recent years, due to inflation, we have seen significant price
increases in some of these items, such as the processing cost per book, which rose by 35 cents (a 39% cost
increase), in 2022. Due to budgetary constraints, we are requesting $450 in this line for FY25.
Expended FY2022 - $3,749 Expended FY2022 - $4,000 Expended FY2021 - $3,957
53020 OTHER SUPPLIES $5
Items purchased in this line item include consumables and cleaning products of all types including
paper products, furniture and carpet cleaners, stain removers, lawn and ground supplies, etc. While we
do not anticipate that our costs will be lower this year, due to budgetary constraints, we have reduced
this line item to $5.
Expended FY2023 - $3,605 Expended FY2022 - $2,907* Expended FY2021 - $3,977
*our FY2022 total is artificially low due to the request to suspend spending in April of 2022.

TOWN OF WATERFORD
FY2025 BUDGET REQUEST
DEPARTMENT: Waterford Public Library
BUDGET EXPLANATIONS BY CATEGORY (CONTINUED) 54160
BOOKS/RELATED MATERIAL $11,661
This line item is the town’s contribution, approximately 9% of the total planned FY25 expenditure, for the
purchase of the following items:
e Books (regular and large print), DVDs, audio books (Playaways and CD), magazines, newspapers,
music CDs, puzzles and video games for adults, children and teens.
e The library now offers for checkout: eight Wi-Fi hotspots, two CD players, two metal detectors,
two ukuleles and thirteen museum passes that provide free or discounted admission.
e Access to: downloadable e-books, e-magazines, e-audio books, streaming videos and streaming
music for adults, children and teens: Bookflix (Scholastic e-books for grades K-3), hoopla (e-books,
e-audiobooks, music and video streaming), Kanopy (film streaming including documentaries, the
Great Courses, and international films), Overdrive, as part of the Library Connection, Inc.
consortium (downloadable e-books and e-audiobooks and magazines using the Libby app), and
Tumblebooks (animated picture books for children).
e Online resources include: Ancestry Library Edition (genealogical research), JobNow (resume
writing, test prep, career resources) and Transparent Language (language learning for 110
languages, including English for new speakers and Kidspeak language learning for children.
The library’s professionally trained staff continually monitors how the collections are used and looks for
new formats, collections and resources to ensure that the community has what it wants and needs. Each
year a larger percentage of this budget is allocated for e-content. This investment was especially beneficial
to Waterford cardholders who were able to access quality content online from the safety of their homes
during the recent pandemic.
Monies are spent on high-demand subjects, best sellers and new books, DVDs, audio books and new
formats and collections. Expenditures are reduced or eliminated on categories of minimal use or interest.
Similarly, the library continues to review its purchases of materials in response to the availability of
information online through either the internet or statewide and proprietary databases.
The library continues to focus on resource sharing with our local library partners at Groton Public, Mystic
& Noank and Bill Memorial Libraries. Books and other library materials available at these libraries are
shipped to Waterford within a few days of online requests. Library materials from the collections of
hundreds of public, academic, school, and special libraries across the State can be requested, picked up
and returned to Waterford, thanks to the state-funded interlibrary loan system comprised of Borrow/T CT
(formerly Connecticard) and Deliver It! CT (formerly Connecticar). Additionally, Waterford customers can
use their library cards in any of the 192 public libraries throughout Connecticut. The cooperation among
libraries and the vast interlibrary loan network in Connecticut greatly expands what an individual library
can offer its customers and accounts for savings to a library’s materials budget.
The library’s goal is to be as responsive as possible to the public while operating in an efficient and cost
effective manner. The library board partners with the town and this year will fund over 90% of the total
library books, materials and services purchased. Since 2010, the Town has funded this line at a flat rate of
$45,000 (reduced to $44,000 for FY2023). Due to budget constraints, we have reduced this line for FY25
to $11,661. Factoring in inflation, to be equal to our 2010 Town funding, this line should be $62,084 to
provide the same purchasing power.
Expended FY2023 - $43,999 Expended FY2022 - $44,999 Expended FY2021 - $45,000

TOWN OF WATERFORD
FY2025 BUDGET REQUEST
DEPARTMENT: Waterford Public Library
PERSONNEL WORKSHEET
TOWN OF WATERFORD
PERSONNEL WORKSHEET - 36 WATERFORD PUBLIC LIBRARY
2024-2025 FISCAL YEAR
LINE
51920
HOURLY TOTAL PAYROLL
DATE OF HOURS RATE SALARY SALARY EMPLOYEE TAXES
WORKED LONGEVITY
HIRE EMPLOYEE /. WEEK FY25 2023-2024 2024-2025 FY25 SALARY (F.IC.A)
51110 - ADMINISTRATION
12/14/2020 Library Director 40 | 48.2934 98,377.24 | 100,836.67 | N/A 100,837.67 7,714.01
TOTALS 
98,377.24 | 100,836.67 0.00 100,837.67 7,714.01
51210 - CLERICAL TECHNICAL
Dept Head Adult
09/15/2008 | services 40 | 36.7261 74,813.44 76,684.00 | 1,154.68 77,838.68 5,954.66
Department Head —
08/15/2022 | Youth Services 40 | 34.1322 69,529.72 71,268 | - 71,268 5,47
Department Head -
06/28/2007 | Tech & Circ Services 40 | 40.3951 82,287.92 84,345.00 | 1,270.04 85,615.04 6,549.55
Technical/Dept Asst —
9/4/2016 | Tech & Circ/Adult 40 | 29.6935 67,878.20 62,000.00 | - 62,000.00 4,7430.00
05/30/2006 | Secretary II 35 | 33.4198 59,586.80 61,058.00 | 350.00 61,408.00 4,697.71
Information/Reference
04/04/2022 | Technical Asst- Youth 35 | 25.5738 45,934.70 46,723.24 | - 46,723.24 3,574.33
03/09/1992 | Technician II 35 | 30.3938 53,981.20 55,529.47 | 600.00 56,129.47 4,293.90
11/22/1993 | Technician II 35 | 30.3938 53,981.20 55,529.47 | 600.00 56,129.47 4,293.90
01/04/1988 | Technician II 35 | 30.3938 53,981.20 55,529.47 | 600.00 56,129.47 4,293.90
10/31/2022 | Tech | - Graphics 14 | 20.9920 14,790.44 15,340.95 - 15,340.95 1,173.58
Information/Reference
05/11/2015 | Asst- Adult 22 | 24.9439 28,341.50 28,645.57 | N/A 28,645.57 2,191.39
Information/Reference
5/9/2023 | Asst- Adult 15 | 24.9439 28,408.60 19,531.07 | N/A 19,531.07 1,494.13
Information/Reference
06/10/2019 | Asst- Youth 16 | 26.2120 26,530.80 21,892.26 | N/A 21,892.26 1,674.76
11/01/2008 | Technician | 16 | 26.8723 25,819.67 22,443.74 | N/A 22,443.74 1,716.95
8/07/2017 | Technician | 12 | 23.7491 14,427.48 14,876.44 | N/A 14,876.44 1,138.05
11/25/2022 | Technician | 12 | 20.991 14,769.44 13,148.81 | N/A 13,148.81 1,132
8/8/2023 | PAGE 1-Library Page | 6 | 15.7503 4,544.64 4,914.11 | N/A 4,914.11 375.93 |

HOURLY TOTAL PAYROLL
DATE OF HOURS RATE SALARY SALARY EMPLOYEE TAXES
WORKED LONGEVITY
HIRE EMPLOYEE / WEEK FY25 2023-2024 | 2024-2025 FY25 SALARY (F.IC.A)
8/8/2023 | PAGE 1-Library Page | 15.7503 4,544.64 0} N/A 4,914.11 0
11/13/2023 | PAGE 1-Library Page | 15.7503 4,787.64 0} N/A 4,914.11 0
05/17/2022 | PAGE 1-Library Page | 15.8106 4,914.00 4,932.90 | N/A 4,932.90 377.37
TOTALS 733,610.23 | 724,220.74 | 4,574.72 728,795.46 55,752.85
51220 - CUSTODIAL MAINTENANCE
Buildings & Grounds $
09/14/2015 | Manager 40 | 33.6489 68,016.00 69,989.76 | - 69,989.76 5,354.22
06/21/2013 | Custodian II 3 | 29.0112 4,399.20 0|] N/A 0 0
02/15/2022 | Custodian II 16 | 22.5800 12,662.91 18,858.82 | N/A 13,364.10 1,442.70
9/12/2023 | Custodian II 4 | 21.4900 4,361.76 4,487.11 | N/A 4,487.11 343.26
TOTALS 89,439.87 93,335.69 0.00 93,335.69 7,140.18
51810 -
OVERTIME 8,250.00 150 0.00 150 11.48
FRINGE
F.I.C.A. 
0.00
TOTALS 
929,677.34 | 918,543.10 | 4,574.72 923,117.82 70,618.51
WORKDAYS
2024/2025 WEEKS TO BUDGET
261 52.2

TOWN OF WATERFORD
FY2025 BUDGET REQUEST
DEPARTMENT: Waterford Public Library
REVENUE PROJECTION
TOWN OF WATERFORD
PROPOSED REVENUE BY DEPARTMENT
GENERAL FUND
2024-2025 FISCAL YEAR
All revenues from each department must be listed in the following categories. Please add any revenue
lines that are not listed below.
DEPARTMENT:
Library
LINE ITEM
2021-2022
ACTUAL
2022-2023
ACTUAL
2023-2024
YTD
2024-2025
PROPOSED
VARIANCE
Alarm Monitoring
Alarm Penalties
Ambulance Subsidy
Beach Admission Fees
Benefit Assessments
Bulky Waste Fees
Conveyance Tax
Copy Fees
So|\o|o|o|/o|o|o!|o
East Lyme Animal Control
Fee
Enhanced E 9-1-1
Fines/Penalties
Hazardous Household Waste
Inspection Fees
Interest/Lien Fees
Inter-Municipal Revenues
So/o|o|/o|o|o|o
Library Fines
$0.00
$540.90
$608.00
$1,459.00
Rn
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a
=
N
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Miscellaneous
i=)
Permitting/Licensing Fees
Program/Registration Fees
Recording Fees
o\|o|o
Regional Communications
Fees
Rentals
Sale of Recyclables
State Operational Grants
Tipping Fees
So|o|o|o|o
Versa Kart/Blue Box
Purchases
So
TOTALS
$0.00
$540.90
$608.00
$1,459.00
$851.20

TOWN OF WATERFORD
FY2025 BUDGET REQUEST
DEPARTMENT: Waterford Public Library
2023 YEAR AT-A-GLANCE / ANNUAL STATISTICS
CI]WATERFORD feepeinaar a
= public library
Discovery begins here AT A GLANCE
Wi-Fi Hotspots circulated 152 times
Museum Passes circulated 207 times
6,925
Active Cardholders

TOWN OF WATERFORD
FY2025 BUDGET REQUEST
DEPARTMENT: Waterford Public Library
FISCAL YEAR 2023 LIBRARY STATISTICS
FY2023 FY2022 % CHANGE
CIRCULATION
ADULT 96,048 96,865 -1%
CHILDREN 49,732 47,227 5%
TEEN 3,083 3,384 -9%
TOTAL 148,863 147,476 1%
ADULT
BOOKS 56,505 57,946 -2%
MAGAZINES 1,575 1,708 -8%
VIDEOS 8,896 10,573 -16%
BOOKS-on-CD 1,952 2,211 -12%
PLAYAWAY 879 962 -9%
MUSIC CDs 1,054 1,360 -23%
MUSEUM PASSES 207 133 56%
DOWNLOADS 24,224 21,463 13%
GAMES/LAUNCHPADS 604 440 37%
EQUIPMENT/HOTSPOTS 152 69 120%
TOTAL 96,048 96,865 -1%
CHILDREN
BOOKS 46,247 43,806 6%
MAGAZINES 155 98 58%
VIDEOS 2,247 2,326 -3%
AUDIOBOOKS 767 675 14%
MUSIC CDs 316 322 -2%
TOTAL 49,732 47,227 5%
TEEN
BOOKS 3,083 3,384 -9%
DOWNLOADS (ADULT CIRC.)
E-BOOKS 10,969 10,748 2%
E-AUDIOBOOKS 10,702 8,248 30%
E-MAGAZINES 1,418 1,321 7%
E-VIDEOS 1,064 1,105 -4%
E-MUSIC 71 41 73%
TOTAL 24,224 21,463 13%
CHECK-INS 112,931 113,732 -1%

DEPARTMENT: Waterford Public Library
FY2023 FY2022 % CHANGE
WEBSITE HITS 63,500 61,830 3%
ONLINE SEARCHES 3,741 3,068 22%
ADULT QUESTIONS 16,081 15,210 6%
CHILDREN'S QUESTIONS 5,460 2,925 87%
CIRCULATION DESK QUESTIONS 11,011 9,464 16%
WIFI LOGINS 27,492 19,723 39%
COMPUTER USE
ADULT 5,618 5,190 8%
CHILDREN 2,455 1,011 143%
TOTAL 8,073 6,201 30%
INTERLIBRARY LOAN
TO WATERFORD
GPL, MN, BILL 5,111 4,933 4%
OTHER LIBRARIES 904 758 19%
TOTAL 6,015 5,691 6%
FROM WATERFORD
GPL, MN, BILL 3,817 3,722 3%
OTHER LIBRARIES 386 574 -33%
TOTAL 4,203 4,296 -2%
CUSTOMER DOOR COUNT 78,921 82,368 -4%
borrowlT (C-Card) CIRCULATION 35,161 37,047 -5%
PROGRAMS
ADULT
SESSIONS 182 239 -24%
ATTENDANCE 2,995 3,106 -4%
CHILDREN
SESSIONS 248 207 20%
ATTENDANCE 13,525 8,410 61%
TEEN
SESSIONS 39 26 50%
ATTENDANCE 373 298 25%
LIBRARY CARD REGISTRATION 1,127 1,077 5%
COMMUNITY USE OF MEETING ROOMS 509 306 66%

TOWN OF WATERFORD
FY2025 BUDGET REQUEST
DEPARTMENT: Waterford Public Library
GRANTS RECEIVED
In FY2023, the Library received the following programming grants:
Name of Grant Funder Amount Purpose
iVamos a la biblioteca! Community $5,000 To develop the children’s and teens’
Foundation of Eastern Spanish language collections, to purchase
CT bilingual Wonderbooks and to provide
bilingual storytime programs.
Healthy Habits Project CT State Library $2,000 To purchase materials and provide
summer programs to teach children,
teens and families the importance of
healthy nutrition.
Summer al fresco Dominion Energy $2,000 To provide summer music on the library’s
concerts Foundation side lawn on five Thursday evenings.
Building Equity Based CT State Library $500 ‘| Stipend to support equity based
Summers initiatives for youth summer reading.
Creating Welcoming Kelsey S. Harrington $2,000 | To support the creation of a sensory bin
Spaces for All Foundation to support youth on the autism spectrum
while using the library, to purchase
sensory friendly furniture for the
children’s room and to fund art classes
for youth and adults with intellectual and
developmental disabilities.
General programming M&T Bank Foundation $3,000 M&T bank funded a financial literacy
support program for teens given by Patrina Dixon
and supported the library’s 100"
anniversary programs and fair.
STEAM programming for | Rotary Club of $500 To provide summer STEAM programs for
children Waterford children.
$15,000
CURRENT INITIATIVES
As presented in this report, the library is in the final stages of creating our new strategic plan. Staff will be
writing objectives as part of annual action plans to help support each of our stated goals and areas of
focus for the next three fiscal years.
We are hoping to receive grant funding for an outdoor Storywalk@to enhance the new Town Center park
adjacent to the library and to continue our popular al fresco summer concert series.
Long-term, the library is seeking grant funds to provide ADA elevator access to all three levels of our
building and to update the lower level restrooms to make them accessible.
Thank you for your attention to this report.

TOWN OF WATERFORD
FY2025 BUDGET REQUEST
DEPARTMENT: Waterford Public Library
WATERFORD PUBLIC LIBRARY, INC. BUDGET
THE WATERFORD PUBLIC LIBRARY, INC.
501c3 Account
FY2025 Budgeted Library Support
Auditor $5,000
Books & materials $87,459
Building maintenance & improvement $3,000
Dues, conferences, education $3,500
Furniture & shelving $3,500
Innovation & Miscellaneous $1,500
Insurance $191
Office equipment & supplies $6,500
On-line subscriptions $29,000
Programs & community relations $11,000
Public copier lease & fees $4,200
Special Projects $2,500
TOTAL EXPENDITURES $157,350
FUNDS ANTICIPATED FY2024 $100,638
FUNDS APPROPRIATED FY2023/FUNDS RECEIVED FY2023 $120,871/$121,000
Statement by Aaron Rosenberg, President of the Waterford Public Library Board
As we celebrated the 100" anniversary of the Waterford Public Library this year, it became abundantly
clear that the more things change, the more they stay the same. Yes, we have evolved from a modest
collection in a small facility to the vast and varied books and materials both in person and online, as well
as computers, and engaging programs in our modern, inviting facility. And yet, we pride ourselves on the
same warm, friendly staff eager to serve our residents. We consistently have been a hub of the town,
where all are able to discover enlightening, edifying and entertaining ways to enrich their lives. And
remarkably, these are available to every citizen at no expense.
The Library would not be able to maintain the high standards to which our community depends without
the generous support of our town leadership. | can think of no better investment in the intellectual,
cultural and social dimensions of our town than upholding the extraordinary contributions of the
Waterford Public Library.

THE WATERFORD PUBLIC LIBRARY, INC.
FINANCIAL STATEMENTS
JUNE 30, 2023
(WITH SUMMARIZED COMPARATIVE FINANCIAL
INFORMATION FOR THE YEAR ENDED JUNE 30, 2022)
TOGETHER WITH INDEPENDENT
AUDITOR’S REPORT

THE WATERFORD PUBLIC LIBRARY, INC.
TABLE OF CONTENTS
JUNE 30, 2023
Independent Auditor’s Report
Financial Statements
Statement of Assets, Liabilities, and Net Assets — Modified
Cash Basis
Statement of Revenues, Expenses, and Changes in Net Assets
— Modified Cash Basis
Statement of Functional Expenses — Modified Cash Basis
Notes to Financial Statements

GS&B
GARVEY, STEELE |. BANCROFT ;,
Certified Public Accountants & Advisors
INDEPENDENT AUDITOR’S REPORT
To the Board of Trustees
The Waterford Public Library, Inc.
Waterford, Connecticut
Opinion
We have audited the accompanying financial statements of The Waterford Public Library, Inc. (a nonprofit
organization), which comprise the statement of assets, liabilities, and net assets - modified cash basis as of June
30, 2023, and the related statements of revenues, expenses, and changes in net assets - modified cash basis, and
statement of functional expenses - modified cash basis, for the year then ended, and the related notes to the
financial] statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the assets,
liabilities, and net assets of The Waterford Public Library, Inc. as of June 30, 2023, and its support, revenue, and
expenses for the year then ended in accordance with the modified cash basis of accounting as described in Note
I
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for
the Audit of the Financial Statements section of our report. We are required to be independent of The Waterford
Public Library, Inc. and to meet our other ethical responsibilities in accordance with the relevant ethical
requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
Basis of Accounting
We draw attention to Note | of the financial statements, which describes the basis of accounting. The financial
statements are prepared on the modified cash basis of accounting, which is a basis of accounting other than
accounting principles generally accepted in the United States of America. Our opinion is not modified with
respect to this matter.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance
with the modified cash basis of accounting described in Note 1, and for determining that the modified cash basis
of accounting is an acceptable basis for the preparation of the financial statements in the circumstances.
Management is also responsible for the design, implementation, and maintenance of internal control relevant to
the preparation and fair presentation of financial statements that are free from material misstatement, whether
due to fraud or error.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue the auditor’s report that includes our
opinion. Reasonable assurance is a high level of assurance but is not absolute and therefore is not a guarantee
that an audit conducted in accordance with generally accepted auditing standards will always detect a material
misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than
for one resulting in error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or
the override of internal control. Misstatements are considered material if there is a substantial likelihood that,
200 Sandy Hollow Road, Ste 2, PO Box 397, Mystic, Connecticut 06355 * p 860.536.9831 * f 860.536.0716
567 Vauxhall Street Extension, #330, Waterford, Connecticut 06385 ° p 860.443.1040 ° f 860.444.2215
WWW.GSB-CPAS.COM

individually or in the aggregate, they would influence the judgement made by a reasonable user based on the
financial statements.
In performing an audit in accordance with generally accepted auditing standards, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud
or error, and design and perform audit procedures responsive to those risks, Such procedures include
examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that
are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of The Waterford Public Library, Inc.’s internal control. Accordingly, no such opinion is
expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the financial
statements.
Conclude whether, in our judgement, there are conditions or events, considered in the aggregate, that
raise substantial doubt about The Waterford Public Library, Inc.’s ability to continue as a going concern
for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control related matters that
we identified during the audit.
Report on Summarized Comparative Information
We have previously audited The Waterford Public Library, Inc.’s 2022 financial statements, and we expressed
an unmodified opinion on those audited financial statements in our report dated October 3, 2022. In our opinion,
the summarized comparative information presented herein as of and for the year ended June 30, 2022, is
consistent, in all material respects, with the audited financial statements from which it has been derived.
Cnet Onl - Parca yp
Mystic, Connecticut
September 14, 2023

ASSETS
Current Assets
Cash and cash equivalents
Total current assets
Investments
THE WATERFORD PUBLIC LIBRARY, INC.
STATEMENT OF ASSETS, LIABILITIES, AND NET ASSETS - MODIFIED CASH BASIS
JUNE 30, 2023
(with summarized financial information for 2022)
Board designated endowment
Total investments
Non-current Assets
Art collections
Total non-current assets
Total assets
LIABILITIES AND NET ASSETS
Net Assets
Net assets without donor restrictions:
Available for operations
Board designated endowment
Total net assets without donor restrictions
Net assets with donor restrictions
Total net assets
Total liabilities and net assets
2023 2022
16,198 8,869
16,198 8,869
3,287,467 2,997,806
3,287,467 2,997,806
55,600 55,600
55,600 55,600
3,359,265 3,062,275
59,680 58,055
3,287,467 2,997,806
3,347,147 3,055,861
12,118 6,414
3,359,265 3,062,275
3,359,265 3,062,275
See accompanying notes to the financial statements
3

THE WATERFORD PUBLIC LIBRARY, INC.
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - MODIFIED CASH BASIS
FOR THE YEAR ENDED JUNE 30, 2023
(with summarized financial information for 2022)
Without With
Donor Donor Total Total
Restrictions Restrictions 2023 2022
SUPPORT AND REVENUE
Grants $ 2 $ 15,541 $ 15,541 $ 39,711
Annual mailing appeal 30,282 - 30,282 28,779
Other fundraising 9,908 - 9,908 34]
Contributions and bequests 15,715 - 15,715 14,819
Intergovernmental 13,915 - 13,915 15,152
Book sales and service 7,066 - 7,066 6,565
Investment income, net 65,151 - 65,151 30,422
Gain (loss) on investment 310,510 - 310,510 (494,530)
Miscellaneous 9,199 - 9,199 8,537
Net assets released from restriction:
Satisfaction of time or purpose requirement 9,837 (9,837) - -
Total support and revenue 471,583 5,704 477,287 (350,204)
EXPENSES
Program services 173,881 - 173,881 157,858
Management and general 4,691 - 4,691 4,491
Fundraising 1,725 - 1,725 1,361
Total expenses 180,297 - 180,297 163,710
Change in net assets 291,286 5,704 296,990 (513,914)
Net assets, beginning 3,055,861 6,414 3,062,275 3,576,189
Net assets, ending $ 3,347,147 $ 12,118 $ 3,359,265 $ 3,062,275
See accompanying notes to the financial statements
4

THE WATERFORD PUBLIC LIBRARY, INC.
STATEMENT OF FUNCTIONAL EXPENSES - MODIFIED CASH BASIS
Accounting
Occupancy
Conferences
Insurance
Books and library materials
Online resources
Public relations
Grant expense
Office supplies
Special projects
Miscellaneous
Museum passes
Fundraising
Total expenditures
FOR THE YEAR ENDED JUNE 30, 2023
(with summarized financial information for 2022)
Program
Services
Management
.and General Fundraising
Total
2023
Total
2022
20,731
3,532
80,794
26,452
14,352
9,837
6,575
6,502
3,856
1,250
4,500
20,731
3,532
191
80,794
26,452
14,352
9,837
6,575
6,502
3,856
1,250
1,725
4,300
2,777
2,638
191
73,316
22,571
13,001
34,647
4,002
3,716
1,190
1,361
173,881
180,297
163,710
See accompanying notes to the financial statements

THE WATERFORD PUBLIC LIBRARY, INC.
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2023
NOTE 1 —-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of Activities .
The Waterford Public Library, Inc. (the Library) was formed to establish and perpetually maintain a free public
library for the benefit of the inhabitants of the Town of Waterford, and to promote all the purposes which usually
appertain to such libraries.
Basis of Accounting and Presentation
The financial statements of the Library have been prepared on the modified cash basis of accounting. Revenues
are recognized when received and expenses are recognized when paid. Contributions of collections are
recognized at fair market value when gifted.
Use of Estimates
The preparation of financial statements in accordance with the modified cash basis of accounting requires
management to make estimates and assumptions that affect the amounts reported in the financial statements and
accompanying notes. These estimates are based on information available at the time the financial statements are
prepared. Actual amounts or results could differ from these estimates.
Reclassifications
Certain reclassifications and adjustments have been made to the financial statements of the prior year in order to
conform to the current year presentation. These reclassifications have no effect on previously reported net
income or total net assets.
Net Asset Categories
To ensure observance of limitations and restrictions placed on the use of resources available to the Library, the
accounts of the Library are maintained in the following net asset categories:
Net assets without donor restrictions — Net assets that are not subject to donor-imposed stipulations but may be
designated for specific purposes by the Board of Trustees (the Board).
e Board designated endowment — The Board has designated a portion of net assets without donor
restrictions that represents the market value of the Library’s endowment fund to emphasize that this
portion of net assets without donor restrictions is available for current operations only to the extent that
is set forth in the annual budget, subject to the endowment investment spending policy. See Note 4 for
more detail on the Library’s board designated endowment.
Net assets with donor restrictions — Net assets subject to donor-imposed stipulations that may or will be met
either by the actions of the Library and/or the passage of time, or which may be perpetual. When a restriction is
satisfied, the associated amount is reclassified from net assets with donor restrictions to net assets without donor
restrictions and is reported in the Statement of Revenues, Expenses, and Changes in Net Assets — Modified Cash
Basis as net assets released from restrictions. See Note 5 for more detail on the Library’s net assets with donor
restrictions, which primarily consist of unspent grants.
Prior Year Summarized Financial Information
The financial statements include certain prior year summarized financial information in total but not by net asset
class. Such information does not include sufficient detail to constitute a presentation in conformity with the
modified cash basis of accounting. Accordingly, such information should be read in conjunction with the
Library’s audited financial statements as of and for the year ended June 30, 2022, from which the summarized
information was derived.

THE WATERFORD PUBLIC LIBRARY, INC.
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2023
NOTE 1-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Liquidity
Assets are presented in the accompanying Statement of Assets, Liabilities, and Net Assets — Modified Cash Basis
according to their nearness of conversion to cash and liabilities according to the nearness of their maturity and
resulting use of cash.
Cash and Cash Equivalents
Cash and cash equivalents include cash on hand and highly liquid debt instruments with maturities of three
months or less at the date of purchase. This policy does not apply te funds with donor-imposed restrictions. The
Library maintains cash balances at one financial institution and such deposits may, at times, exceed federal
depository insurance limits.
Property and Equipment
Property and equipment acquisitions which exceed $1,000 become the property of the Town of Waterford. The
Library expenses as program services all acquisitions less than $1,000. Maintenance and repairs are charged to
expense as incurred.
Art Collections
As of July 1, 2005, the Library capitalized its art collection retroactively in conformity with accounting principles
generally accepted in the United States of America (US GAAP). The art collection items acquired prior to July
1, 2005 .were appraised and they were determined to have a value of $55,000, Subsequent to July 1, 2005, art
collection items acquired by the Library will be recorded at fair market value if donated, and at cost if purchased,
Investments
Investments in marketable equity securities with readily determined fair values and investments in debt securities
are, carried at fair value. Fair value is determined based on quoted market price (all Level 1 measurements).
Realized and unrealized gains and losses on.these investments are reported in the Statement of Revenues,
Expenses, and Changes in Net Assets — Modified Cash Basis, as increases or decreases in net assets without
donor restrictions unless their use is restricted by explicit donor stipulations or by law. Investment income and
gains restricted by donors are reported as increases in net assets without donor restrictions if the restrictions are
met in the same reporting period in which the income and gains are recognized.
Fair Value of Financial Instruments
US GAAP defines fair value and establishes a framework that includes a hierarchy that categorizes and
prioritizes the sources used to measure and disclose fair value. Fair value is defined as the price that would be
received in a sale of an asset or paid to transfer a liability in an orderly transaction between market participants
at the measurement date. The hierarchy is broken down into three levels of input that market participants would
use in valuing the asset or liability, which can be summarized as follows:
Level 1 — Quoted prices in active markets for identical assets or liabilities.’
Level 2 — Quoted prices for similar assets and liabilities in active markets.
_Level 3 — Valuation based on inputs that are unobservable therefore requiring management’s best
estimate of what market participants would use as fair value. .
The level of a financial instrument within the fair value hierarchy is based on the lowest, or least observable,
level of input that is significant to the fair value measurement. Fair value estimates discussed herein are based
upon certain market assumptions and pertinent information available to management. The respective carrying
value of certain on-balance-sheet financial instruments approximates their fair values due to the short-term nature
of these instruments.
At June 30, 2023, the Library’s Level 1 financial assets consist of investments which are valued at quoted market
prices in active markets for identical assets. The Libraty had no Level 2 or 3 financial assets.
7

.THE WATERFORD PUBLIC LIBRARY, INC,
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2023
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Income Tax Status
The Library is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. In
addition, the Library qualifies for the charitable contribution deduction under Section 170(b)(1)(A) and has been
classified as an organization that is not a private foundation under Section 509(a)(2). The Library currently has
no unrelated business income. Accordingly, no provision for income taxes has been recorded.
The Library did not recognize any liability for uncertain tax positions as defined by US GAAP.
The Library’s tax return for the year ended June 30, 2023 is subject to examination by the IRS, generally for
three years after it has been filed.
Subsequent Events
Management evaluated subsequent events through September 14, 2023, ‘the date these financial statements were
available to be issued.
NOTE 2 - CONCENTRATIONS
Support and Revenue
The Library receives significant support in the form of salaries and fringe benefits paid to the Town of Waterford
employees who provide. librarian staffing seryices to the Library and the use of the Library facilities which are
owned by the Town of Waterford. Any significant reduction in the level of this support would have a negative
impact on the Library’s programs and activities.
Credit Risks
The Library’s financial instruments that are exposed to concentrations of credit risk consist of cash and cash
equivalents and investments. The Library places its cash deposits with high credit quality institutions, Such
deposits are fully covered by federal depository insurance. Investments are considered by management to be
sufficiently diversified to minimize individual investment and industry concentration risks, However,
investments are subject to risks of the securities market as a whole.
NOTE 3 - INVESTMENTS AND FAIR VALUE MEASUREMENTS
The cost and fair market value of the Library’s investments (all Level 1) at June 30, 2023 and 2022 were as
follows: —
Adjusted Unrealized Unrealized Estimated
June 30, 2023 Cost Gains Loss Fair Value
Equities. ‘ $ . 1,271,118. §$ 710,468 $ . - .$ * 1,981,586
Bond funds 229,588 - : 229,588
US Treasuries 475,778 - (5,036) ‘470,742
Exchange traded tunds 338,884 202,980 . - 541,864
Corporate stocks 34 23,559 - 866 - 24,425
Money market funds 39,262 - - 39,262
$2,378,189 ° $ "914,314 $ (5,036) _$ 3,287,467

THE WATERFORD PUBLIC LIBRARY, INC.
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2023
NOTE 3 - INVESTMENTS AND FAIR VALUE MEASUREMENTS (Continued)
Adjusted Unrealized Unrealized Estimated
June 30, 2022 Cost Gains Loss Fair Value
Equities $ = 1,271,118 $ 436,855 $ (8,183) $ 1,699,790
Bond funds - - - -
US Treasuries 789,153 30 (5,406) 783,777
Exchange traded funds 338,884 124,017 - 462,901
Corporate stocks 23,559 * 1,206 - 24,765
Money market funds 26,573 - - 26,573
$2,449,287 $ 562,108 $ (13,589) _$ 2,997,806
A summary of the Library’s investment return is presented below at June 30, 2023 and 2022:
2023 2022
Interest and dividends $ 75,626 $ 43,098
Investment management fees (10,475) (12,676)
Realized losses (25) (34,371)
Unrealized losses 310,535 (460,159)
Total return on investments $ 375,661 $ (464,108)
Management evaluates the Library’s investment portfolio for other-than-temporary impairment at least on a
quarterly basis, and more frequently when economic or market conditions warrant such an evaluation.
Consideration is given to the length of time and the extent to which fair value has been less than cost, the financial
condition of the issuer, and the intent and ability of the Library to retain the investment until a recovery value is
achieved.
Maturities on the Library’s investments at June 30, 2023 and 2022 were as follows:
2023 2022
Amount % to Total Amount % to Total
Less than one year $ 3,287,467 100% $ 2,525,712 84%
One to five years “ 0% 472,094 16%
$_ 3,287,467 100% $ 2,997,806 100%
NOTE 4~— BOARD DESIGNATED ENDOWMENT
The Library’s endowment consists of funds designated by the Board to function as endowments. The Board
designated endowment consists of the fair market value of the investment funds, without accrued interest. As
required by generally accepted accounting principles, net assets associated with endowments, including funds
designated as endowments, aie classified and reported based on the existence or absence of donor-imposed
restrictions.

THE WATERFORD PUBLIC LIBRARY, INC.
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2023
NOTE 4 - BOARD DESIGNATED ENDOWMENT (Continued)
Chang