3-2-26 Budget Hearing Agenda and Backup Documents

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Board/Commission	Board of Finance
Meeting Date	March 02, 2026
Pages	143
File Size	6.9 MB
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AGENDA
Waterford Town Hall Monday, March 2, 2026
Budget Hearing Town Hall 7:00 p.m.
1. Call to Order >3 2 8
2. Public Comment GF sh
m Be
ay & da
7 136 — Libr ash oy BS
3 10136 - Library a 2
4 10129 - Police Department 2X 0 52
ZN » 38
5. 10123 — Fire Services { wv é
6. 10103 - Board of Finance
7. 10121 - Contingency
8 Adjournment
Glenn Patterson, Chairman

Function statement
Grants Received & Looking ahead
Waterford Public Library, Inc. budget ...
Five year trends...
Infographics, FY2025 and Summer Reading 2025, attached
Strategic plan, FY2025-2027 attached
Waterford Public Library, Inc. audit

the areas of education, information and recreation, making its services known and available to all. Per
Connecticut State Statute, Chapter 190, Section 11-24b:
* Principal public libraries shall not charge individuals residing in the town in which the library is located or
the town in which the contract library is located for borrowing and lending library materials, accessing
information, advice and assistance and programs and services which promote literacy; and
‘© Principal public libraries shall provide equal access to library service for all individuals and shall not
discriminate upon the basis of age, race, sex, gender identity or expression, religion, national origin,
handicap or place of residency in the town in which the library is located or the town in which the contract
library is located.
The Waterford Public Library participates in the state’s Connecticard program, as defined in Sec. 11-31a:
“Connecticard” means a cooperative program among public libraries in Connecticut which allows a resident of
any town in the state who holds a valid borrower card issued by his home library to use that card to borrow
materials from any public library in the state that is participating in the program.” In return for participating,
the library receives an annual reimbursement from the state based upon the number of net transactions to
non-resident cardholders. For the most recent reporting period, ending in March of 2025, the library reported
40,366 circulations to non-resident cardholders. For this service, the library was reimbursed $15,744,
The Waterford Public Library, Inc. is a nonprofit corporation with an endowment fund, the income of which is.
used toward the operational expenses of the Library, supplementing the annual appropriation of the Town.
The board's contribution currently pays for the following:
© Over 91% of new physical library materials for all ages, including books, audio books (digital and on
CD), DVDs, newspapers, magazines, music CDs, video games and Wi-Fi hotspots.
Library of Things collection that incudes museum passes, metal detectors, binoculars and ukuleles.
Subscription access to e-books, e-audiobooks, e-magazines, streaming videos and music.
Subscription access to online reference databases.
Alllibrary programs, not funded by grants, for adults, children and teens, including related promotional
materials.
Furniture, equipment & special projects as determined by the trustees.
Library office supplies including processing materials such as book covers, audiovisual cases, labels,
and book tape in addition to supplies such as receipt paper, ink and specialty printing paper.
Staff attendance at professional conferences, training workshops and continuing education.
Dues and memberships in professional organizations.
Special projects and initiatives such as FY2025's special initiative to build a robust Spanish language
collection for adults and the library’s support of Town-wide initiatives including the annual parade, tree
lighting and trunk or treat events.
Thanks to the library trustees’ prudent fiscal stewardship, the library's perpetual endowment has contributed
a total of $2,112,043 to the library’s annual operating expenses since FY2006.

‘© Education ~ The Library provides resources for lifelong learning.
In support of these core objectives, the library accomplished the following in FY2025:
1, Added the CollegeNow digital resource, which provides live skilled guidance for completing the
college application and financial aid forms, writing an essay and offers access to eParachute
vocational interest resources to aid teens and adults who are interested in furthering their
education.
2. Offered a weekly English Conversation Circle program funded by a grant from the Community
Foundation to support new teen and adult English language learners.
3. Curated an updated English language learning collection of circulating materials, funded by the
Community Foundation.
4, Updated the library's Spanish language adult collection with funds provided by the library
c endowment.
5. Moved the 400s collection of language learning materials from the mezzanine to the main floor
to be shelved adjacent to our Spanish language books for adults to aid in discovery.
6. Created bilingual English/Spanish library card application to foster a more inclusive environment.
Introduced staff to basic library-related Spanish language terms to assist in providing more
inclusive service to all library users.
Added genre and short story labels to adult fiction collection to aid patron discovery.
9. Collaborated with the New London Day to accept and transport to the library, their donation of
the complete back file of microfilm covering The Day newspaper from 1881 to 2022. Worked with
Town IT to purchase The Day's microfilm reader/scanner and a new public computer, using funds
from the library's endowment, to support access to this important local resource.
10. Utilized grant funds from SciStarter to offer two educational bird migration programs in
partnership with CT Audubon to support education and lifelong learning.
11. Expanded programs for neurodivergent youth and families through Sensory Saturday
programming funded by the Kelsey S. Harrington Foundation.
12. With matching funds from CT Humanities, offered monthly “Sign & Sing” storytime programs that
incorporate American Sign Language for infants and toddlers.
13, Collaborated with Waterford Senior Services to offer quarterly book discussion at the Community
Center.
14, Created and launched circulating toy collection, funded by Traveling Toys, Inc., to support families
c and children’s discovery and learning and equitable access to resources.
15. Added 2nd self-check station in the Children’s Room to better support families wishing to borrow
library materials.
~

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learning.
22. In April, hosted our 2nd annual Community Volunteer Fair in support of area non-profits and
‘organizations and support discovery and build community for those wishing to volunteer their
time and talents.
23. In support of innovation and curiosity, Library Trustees Eileen Boyce and Mim Wagner with
assistance from volunteer Marcia Benvenuti redesigned and planted the library's front pollinator
garden. As part of this project, they offered two paver decorator programs to library patrons of
all ages to create the border for the revitalized garden. Big thanks to Josh Therrien and his team
at Rec & Parks for tilling the beds to support the replanting of this beautiful public space.
24, Launched monthly Silent Book Club to support belonging and connection in the community.
25. With funding support from the CT State Library, provided three months of innovative STEAM
programming for children and families offered by The GIANT Room.
26. In May, in partnership with Sangam CT and Waterford RISE, hosted our first annual South Asian
American heritage celebration.
27. Increased programs and enrichment activities for children, ages birth to 5, to support early
literacy and school readiness and support Waterford parents and families.
28. Used social media to more proactively promote collections in addition to library programs &
events.
29. Continued collaborations with Waterford Police Department to offer monthly “Read to Hodges”
program and annual Hodges’s birthday celebration, Coffee with a Cop and Back to School with
‘SROs programs.
30. Continued collaborations with Waterford Fire Services to offer multiple Fire Safety Storytime
programs and annual touch-a-truck summer reading event.
31. Continued partnership with Waterford Public Schools to support 1st grade school visits, hosted
multicultural family night and participated in various school outreach events.
32. Supported Town of Waterford events including annual Waterford Day Parade, Harvest Festival,
Trunk or Treat, Tree Lighting and Community Wellness Fair.
33. Strengthened existing partnerships with area organizations including the Waterford Historical
Society, American Association of University Women, the Lions and Rotary clubs and Waterford
RISE.
Our monthly e-newsletter, Discover More, has 1,667 subscribers; 1,359 people follow the library on Instagram;
and our Facebook followers currently number 3,700.
The library staff, our board of trustees and our 6,337 cardholders very much appreciate the ongoing support
provided to the library for the benefit of residents and library users by the Town of Waterford.

OnE DEPT/AGENCY | DEPT/AGENCY | DEPT/AGENCY
TTEM. DESCRIPTION APPROVED | APPROVED REQUEST
PERSONNEL COSTS,
51110 | ADMINISTRATION 100,837 103,756 106,349
$1210 | CLERICAL/TECHNICAL 728,795 739,630 764,602
‘CUSTODIAL-
$1220 | MAINTENANCE 93,336 73,540 75,612
51810 | OVERTIME & SUNDAY. 150 1,739 7,930
51910 | FRINGE BENEFITS 0 3,500 4,500
51920 | FICA (7.65%) 70,619 71,005 73,363,
[= SUBTOTAL 993,737 999,170 1,032,356
SERVICES
52020 | POSTAGE 264 325 325
REIMBURSABLE
52070 | EXPENSE 7) 835, 860
SUBTOTAL 984 1,160 1,185,
MATERIALS & SUPPLIES
53010 | OFFICE SUPPLIES 450 450 450
53020 | OTHER SUPPLIES 5 1,500 1,500
SUBTOTAL 455 1,950 1,950
EQUIPMENT
BOOKS/RELATED
54160 | MATERIAL 11,661 10,500 10,500
SUBTOTAL 11,661 10,500 10,500
c DEPARTMENT TOTAL 1,006,837 1,012,780 1,045,991
— i

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.
From November through mid-March, the library is open 63 hours per week; from April through June and
in September and October, the library is open 60 hours each week; in July and August, the library is open 56
hours each week. All public service staff work at least every other Saturday and one evening each week without
differential pay. Sunday staff are paid regular wages without differentials but wages are segregated under the
“Overtime” line of the budget as they are not part of regular library hours.
51110 ADMINISTRATION $106,349
This line reflects the compensation for the director based on the current non-union management
professionals wage schedules.
51210 CLERICAL/TECHNICAL $764,602
This line reflects the compensation for four full-time librarians (MP) and twelve clerical/technical staff
(AS) full time and regularly scheduled part-time staff, and four library pages. Seven library staff hold
Masters of Library & Information Science degrees. Also included are longevity increases for seven full-time
employees. Six part-time staff will receive annual half-step increases.
51220 CUSTODIAL/MAINTENANCE $75,612
This line includes the full-time building and grounds manager and one part-time substitute custodian.
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 $7,930
Overtime support of $150 is requested for maintenance and/or custodial work in case of a building,
natural disaster, or weather related emergency. The balance of this line, $7,780 will enable the library to
‘open for 20 Sundays from 1 to 4 p.m., beginning on November 1 and ending on March 14 at an average cost
of $389 per Sunday which covers a custodian, 3 staff members and 1 page.
51910 FRINGE BENEFITS $4,500
‘As requested in the Board of Finance guidelines, we are including the anticipated unused sick time HSA
payout for one full-time employee.
51920 FICA $73,363
FICA has been calculated at 7.65%, per Board of Finance guidelines, and is included in the Personnel
Worksheet.

accomplish this decrease by paying more of our book vendor bills with e-checks.
Expended FY2023-$334 Expended FY2024-$312 _Expended FY2025-$386 Budgeted FY2026 - $325
52070 REIMBURSABLE EXPENSE $860
As the library does not have a fleet vehicle, this line item is used to reimburse the building and grounds
manager for use of his personal vehicle 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 1,211/year. For the first five months
of FY26, 511 miles have been logged. For FY27, we are budgeting 1,228 miles at the current federal
reimbursement rate of $0.70.
Expended FY2023-$778 Expended FY2024-$858 Expended FY2025-$770* Budgeted FY2026 - $835
“the Trustee budget covered $52.50 in unbudgeted expenses for the month of June.
53010 OFFICE SUPPLIES $450
Historically, this line item had covered Town printing & copying expenses along with 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 had been able to maintain this
line item at its previous level of $4,000 from 2008 to 2024. Due to budgetary constraints, in FY2025, we reduced
our office supplies request to $450. This line is now used almost exclusively for Town printing & copying
expenses. The Trustee budget is providing $9,000 in FY26 and budgeting $10,765 in FY27 to cover the balance
of the library's office supplies expenses.
Expended FY2023 - $3,749 Expended FY2024- $3,881 Expended FY2025 - $384 Budgeted FY2026 - $450
53020 OTHER SUPPLIES $1,500
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. The amount requested
should be enough to cover supplies for our combined seven public and staff restroom facilities. The library's
trustee budget will continue to cover all other building maintenance supplies as well as special expenses such
as carpet cleaning. For FY26, the trustees are allocating $4,000, for FY27, the trustees are budgeting $6,000 for
this line.
Expended FY2023 - $3,620 Expended FY2024- $3,858 Expended FY2025- $0 Budgeted FY2026 - $1,500

The library now offers for checkout: eight Wi Fi hotspots, two CD players, two metal detectors, two
ukuleles, two pairs of binoculars and thirteen museum passes that provide free or discounted
admission.
‘* 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).
* Online resources include: Ancestry Library Edition (genealogical research), JobNow (resume writing,
test prep, career resources), CollegeNow (expert live guidance and resources for college admissions
success) 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. Last year, the use of e-resources began to level off
with only a 3% increase, after a 24% increase from 2023 to 2024 and 13% increase from 2022 to 2023. We are
happy to see that patrons are continuing to enjoy library resources 24/7 whether or not they physically visit
the library. However, it must be noted that the cost of electronic resources is exponentially higher than that of
print books. Also, publishers place greater restrictions on access to library e-resource through the employment
of embargoes, i.e., not providing access to new bestseller titles, and an artificial 2-year end date (or sometimes
sooner on bestsellers) for online access requiring the library to repurchase more popular titles.
This past year, the library received a grant from Traveling Toys, Inc., a local non-profit, to support the creation
of a circulating toy library. The new collection currently has 40 toys and we will be adding more in the coming
‘months. Families are enjoying using the toys in the library as well as checking them out for use at home.
In FY2025, library staff selected, ordered, received, cataloged and made shelf-ready over 5,200 new physical
items for the library's collections.
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 again fund over 90% of the total library
books, materials and services purchased. From 2010 to 2022, the Town had funded this line at a flat rate of
$45,000 (reduced to $44,000 for FY2023). As mentioned above, the Trustees have approved $114,050 for
physical materials and $39,327 for digital resources, for total support of $153,377 for FY27.
Expended FY23 - $43,999 Expended FY24- $44,999 Expended FY25- $11,661 Budgeted FY26 - $10,500

51110 - ADMINISTRATION
12/14/2020 | Library Director | 40 ~__ [103,755.33 ~ | 105,349.21 | 106,349.21 | 8,135.71
TOTALS 103,755.33 | 0.00 | 106,349.21 | 0.00 | 106,249.21 | 8,135.71
‘54210 - CLERICAL TECHNICAL
09/15/2008 | Dept Head Adult Svcs | 40 | 38.7337 | 78,903.29 | 1,183.55 | 80,875.55 _| 1,213.13 | 82,088.68 | 6,279.78
Dept Head - 73,330.74
08/15/2022 | churenssves | 40. | 35.9981 - | 7assor | - 75,164.01 | 5,750.05
Dept Head - 86,786.18
06/28/2007 | occ, | 40 1,301.79 | 98,956.11 | 133434 | 90,290.85 | 6,907.22
Dept Asst - Technical 37,219.03
09/08/2025 | OPM ee! | 40 | 28.0089 - | seeagsi | - 58,649.51 | 4,486.69
05/30/2006 | seC2-Secretary’ | 35 | 352497 | 6283053 | soo00 | 64,401.75 | so0.00 | 64,901.75 | 496898
‘nfo/Ref Technical 318751
04042022 | ae nigren’s | 35. | 30.0887 - | sass] 5491738 | 4201.18
03/09/1992 Technician It 35 | 31.9400 | 56,929.32 | 600.00 58,354.38 | 600.00 58,954.38 | 4,510.01
11/22/1993 Technician It 35 | 31.9400 | 56,929.32 | 600.00 58,354.38 | 600.00 58,954.38 | 4,510.01
01/04/1988 Technician tt 3s | 31.9400 | 56,929.32 | 600.00 58,354.38 | 600.00 58,954.38 | 4,510.01
10/31/2022 | Techi-PT-Graphies | 14 | 23.7500 | 36,385.18 ~ | 1735650 [ 37,356.50 | 1,327.77
roysrya0rs | IMo/ReF AssstantPT | 165] e.sso | 1620445 - | 295795} 22,957.95 | 1,756.28
oaroyzoar | MOREE Assistant PT | 46 | 2e.9900 | 7446352 - | 2aaross| 24,170.69 | 1,849.08
Tfo/Ref Assistant PT 26,450.38
06/10/2019 fy-treery 16 | 29.6910 - | 279792] - 3,897.04
11/01/2008 | Techniciantet | 16 | 28.9400 | 23,577.70 = | 2ar7069 | 24,170.69 | 1,849.06
09/07/2017 | _ Technician | 12 | 269039 | 16,017.05 - | 1685636 [ 16,856.36 | 1,289.51
11/25/2022 Technician | PT 75 | 23.6071 | 13,433.96 a 9,242.18 : 9,242.18 707.03
Vacancy | PAGE 1-LibraryPage!| 6 | 17.6109 | 4,831.37 : 5,515.73 : 5,515.73 421.95
05/17/2022 | PAGE 1-LibraryPage! | 6 | 17.7900 | 5,475.14 : 5,S71.83 : 5,871.83 426.24
09/15/2025 | PAGE 1-Library Page! | 6 17.6109 | 4,831.37 - 5,515.73 : 5,515.73 421.95
10/01/2024 | PAGE 1-Library Page! | 6 17.7900 | 5,475.11 : 5,571.83 : 5,571.83 426.24
TOTALS 73567456 | 4,785.34 | 759,754.87 | 447.47 | 764,602.34 | $8,492.08,
51220 - CUSTODIAL MAINTENANCE
asjrayanis | POEs E Sounds | go | as.2200 | 7,743.68 | 25000 | 73539:36 | 25000 | 73,799.36 | 5,644.89
06/21/2001 | Custodianusus | 60 | 30.3707 | 189350 | - 1822.24 | 1822.24 | 139.40
TOTAIS 73,637.18 | 25000 | 7518.64 | 250.00 | 75,611.60 | 5,784.29

DEPARTMENT: _Library
LINE ITEM
2024-2025
ACTUAL,
2025-2026
YTD
2025-2026
BUDGET
(2026-2027
PROPOSED
VARIANCE,
Alarm Monitoring
‘Alarm Penalties
Ambulance Subsidy
Beach Admission Fees
Benefit Assessments.
Bulky Waste Fees
Conveyance Tax
© [cone rees
East Lyme Animal Control
Fee
Enhanced E 9-1-1
Fines/Penalties
Hazardous Household Waste
Inspection Fees
Interest/Lien Fees
Inter-Municipal Revenues
Library Fines
$1,440.84
$1,598.00
$1,650.
Miscellaneous
Permitting/Licensing Fees
Program/Registration Fees
Recording Fees
Regional Communications
Fees.
Rentals
| Sale of Recyclables
‘State Operational Grants
Tipping Fees
Versa Kart/Blue Box
Purchases
lo lelclolclo loleloleBjelolelo|ojolo ole|ojo|ojolo|o
Cc TOTALS
$1,440.84
$552.50
$1,598.00
$1,650.
tg

TOTAL 148,863, 179,575, 179,714 0%
ADULT
BOOKS 56,505 67,293 69,199 3%
MAGAZINES 1,575. 2,322 1,809 -22%
VIDEOS 8,896 8,338 7,025 16%
BOOKS-on-CD 1,952 1,915 1,942 1%
PLAYAWAY_ 879 1,151 1,341 17%
Music CDs 1,054 1,538 1,469 4%
MUSEUM PASSES 207 239 322 35%
DOWNLOADS. 24,224 30,300 31,305 3%
GAMES/LAUNCHPADS 604 767 778 1%
EQUIPMENT/HOTSPOTS/THINGS. 152 319 371 16% « »)
TOTAL 96,048 114,182 115,558. 1%
CHILOREN.
BOOKS 46,247 56,473 55,892 -1%
MAGAZINES 155 323 252 22%
VIDEOS: 2,247 2,118 1,729 18%
AUDIOBOOKS 767 2,110 2,057 3%
MUSIC COs 316. 461 454 2%
TOTAL 49,732 61,485 60,384 -2%
TEEN
BOOKS 3,083 3,908 3,772 | 3%
DOWNLOADS (ADULT CIRC.)
E-BOOKS 10,969 11,702 11,732 0%
E-AUDIOBOOKS- 10,702 13,209 13,257, 0%
E-MAGAZINES | 1418 3,840 4,474 17%
E-VIDEOS 1,064 1,470 1,752 19%
E-MUSIC, 7 79 90 14%
TOTAL 24,224 30,300 31,305 3%
CHECK-INS 112,931 108,073 104,626 3%
WEBSITE HITS 63,500 54,421 ‘55,214 1% O
ONLINE SEARCHES 3,741 3,797 3,663 | 4%

ADULT 5,618 6417 7,161 12%
CHILDREN 2,455 3,439 3,686 7%
TOTAL 8,073 9,856 10,847 10%
INTERLIBRARY LOAN
TO WATERFORD
GPL, MN, BILL S11 4,908 4,752 3%
OTHER LIBRARIES 904 1,343 4577 17%
TOTAL 6,015 6,251 6,329, 1%
FROM WATERFORD
GPL, MN, BILL 3817 4340 3,595 17%
OTHER LIBRARIES 386 390 332 -15%
TOTAL 4,203, 4,730 3,927 “17%
CUSTOMER DOOR COUNT 78,921 84,786 88,283 4%
borrowiT (C-Card) CIRCULATION 35,161 42,245 39,384 7%
PROGRAMS
ADULT SESSIONS 182 224 289 29%
ATTENDANCE 2,995 3,498 3,794 8%
CHILDREN SESSIONS 208 373 331 “11%
ATTENDANCE 13,525 16,808 17,241 3%
TEEN SESSIONS 39 44 25 43%
ATTENDANCE 373 399 326 18%
TOTAL
SESSIONS 469 ear 645 1%
ATTENDANCE 16,893, 20,705 21,361 3%
LIBRARY CARD REGISTRATION 4,127 1,023 1,119 9%
[ACTIVE CARDHOLDERS
RESIDENT 5,408 5,602 5,061 -10%
NON-RESIDENT 1517 1529 1,276 17%
TOTAL 6925 7131 6,337 11%
COMMUNITY USE OF MEETING ROOMS 509 592 609 3%

The Book Group
Child First United Community & Family Services (UCFS)
Clam Shell Quilt Guild
‘Community Conversation with Senator Martha Marx
Community Foundation of Eastern CT
SEA (Retired State Employees Union)
Cub Scouts Pack 36 Den 2
Cub Scouts Pack 36 Tiger Den
Department of Defense (Employment Screenings)
East Neck Cemetery Society
EB Study Group
Friends of Harkness
Gamblers Anonymous (GA)
Girl Scout Troop #63431
Girl Scout Troop #63433
Glenbrook Green HOA
Governors Landing Homeowner Association
Guardians of Democracy
Hartford Healthcare Ayer Neuroscience Institute
Individual Meetings
Jehovah's Witnesses
Joseph Lawrence School of Nursing
Kiwanis Club of New London
LEARN School Meeting
The Light House
Longview Village
Mothers Against Drunk Driving (MADD) SMART
‘Moms of SECT
Nerds of New London
New Mama Support Circle
Nurturing Families Network
‘One More Chapter Book Club
Parent Support Services (Circle of Security)
Pequot Chapel
Safe Futures
‘Safe Harbor Home Aide
Service Employees International Union (SEIU) 1199 Union.
Shoreline Ladies Book Club
‘Simple Learning Solutions
Sound Lab Reunion
Spark Makerspace
Stoneheights Condo Association
Student Nursing Study Group
Student Transportation of America (STA)
Survivors of Homicide
‘Thames Landing Homeowners Association
‘Thames River Garden Club
‘Thames Stamp Club
‘Thames Valley Co-op Cultural Fair
Tuesday Club
Uke Gals
Ukuleles By the Sea
Waterford High School Debate Practice
Waterford High School Girls Swim Team
Waterford Historic Cemeteries
Waterford Historical Society
Waterford Land Trust
Waterford Little League
Waterford Police Department Training
Waterford Public Schools Multilingual Learners,
Information Night
Waterford Regional Lions Club
Waterford Regional Lions Club - Leos
Waterford Women's Club
Waterford Women's Club - Book Discussion
West Neck Beach Association
WH. Chapman Foundation
‘Women of Waterford Book Club (WOW)

© $1,442 CT State Aid to Libraries grant used to fund the attendance of 6 staff members at t
Library Association conference at the Mystic Marriott in April and to partially fund our Juneteenth
tecture, Connecticut, Color and the Civil War by John Mills
‘© $350 from CorePlus Credit Union to support our Sangam celebration of South Asian American Heritage
in May, offered in partnership with Sangam CT and Waterford RISE
‘© $3,000 from M&T Bank in support of 2025 youth summer reading
¢ $500 from Waterford Rotary in support of youth STEM programs
‘$500 from the Katherine Forest Crafts Foundation to support a traditional Mexican embroidery
program for teens during Hispanic Heritage Month in the fall 2025
In addition, the library was selected to participate in a one year Bonterra/Network for Good’s Jumpstart
fundraising support & training program funded by the Community Foundation of Eastern CT and was selected
by the CT State Library to offer the GIANT Room youth-engagement programming series, funded by the CT
State Library. CT Humanities has continued to provide program support for our monthly Sign & Sing
storytimes on Saturday mornings.
LOOKING AHEAD
The library continues to provide materials, programs and services for Waterford residents of all ages. We
have a particular focus on providing early literacy support and school readiness for children, ages birth to 5.
In October, the library's youth services team added a monthly “Baby & Me” lapsit program for babies and
toddlers, up to 18 months, with a caregiver. This program is in addition to our weekly Monday morning
storytime that is open to all ages and two alternating monthly toddler programs: Toddler Story and Sensory
Play and Tale & Tinker, Parents have asked for more programming for this age group, but with our current
staffing, we do not have the capacity to add additional programs.
‘To commemorate CT/America 250, the library applied for and received a $1,500 grant to provide monthly
programs beginning in January 2026 and continuing through the summer.
Our long awaited HVAC replacement/upgrade project is nearing completion. Next up will be the replacement
of the library's electrical service. It is our understanding that the Department of Public Works will also be
scheduling the replacement of the library's roof in FY2027. Looking further ahead, the library needs an
elevator upgrade as our current elevator to the lower level is not ADA-accessible, nor is there any elevator or
lift access to the library's mezzanine level. A longer-term goal, once a lift is installed, is to create a dedicated
‘Tween-Teen space on the mezzanine.
In FY27, either with grant funds or funded by the endowment, the library will be upgrading our meeting room
audiovisual equipment as it is now at end-of-life.

$ ,
$
,
$
$ ,
Connecticard reimbursement $14,300 | $14,300 $0 $14,302
Endowment transfers $182,495 | $156,162 $26,333 $151,889
Fundraising $40,000 | _ $35,000 $5,000 $69,161
Grants $7,500 $5,000 $2,500 $7,602
Lost and damaged books $1,800 $2,000 ($200) $1,721
Miscellaneous (copies, lost library cards,
etc.) $3,500 $3,500 $0 $3,087
Public copier income $4,500 $4,750 ($250) $4,213
Special projects income $627
TOTAL INCOME $275,195 | $243,062 $34,133 $273,651
EXPENSES ed
Auditor $6,000 $5,000 $1,000 $5,000 |
Books & materials $114,050 | _ $113,266 $784 $113,149
Building maintenance & improvement $6,000 $4,000 $2,000 $7,329
Dues, conferences, education $4,000 $4,500 ($500) $3,179
Fundraising expenses $3,750 $2,100 $1,650 $1,617
Fundraising to endowment $36,250 | _$32,900 $3,350 $43,500
Furniture & shelving $4,000 $3,500 $500 $3,456
Grant expenses $7,500 $5,000 $2,500 $19,575,
Innovation & Miscellaneous $2,000 $1,500 $500 $1,035,
Insurance $2,823 $191 $2,632 $191
Meeting Room A/V Project $14,300 $14,300
Office equipment & supplies ____ $10,765. $9,000 $1,765 $10,958
Online subscriptions $44,007 | __ $40,474 $3,533 $36,040
Programs & community relations
‘Adult Programs $5,750 $5,500 $250 $5,920
Children's & Teen Programs $5,750 $5,500 $250 $5,229
Public copier lease & fees $5,000 $4,881 $119 $4,183
Special Projects $3,250 $3,750 $0 $3,016 |)
TOTAL EXPENDITURES $275,195 | $241,062 $34,633 $268,377 |~~
The library's annual audited financial statement for FY2025 is attached.

Fy2021, Fy2022 FY2023, Fy2024 Fy2025
100,000
40,000
30,000
20,000
110,000
E-RESOURCES CIRCULATION & DOOR COUNTS
—e-E-Resources —t-—Door Counts
30,300 31,305,
21,463
17,706
Fy2021 Fy2022 Fy2023 Fy2024 Fy2025,

raat
Fy2022 Fy2023
Fv2024 Fy2025
18,000
16,000
14,000
12,000
110,000
8,000
4,000
2,000
Program Attendance
em Adult —e=Teen —©—Children
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FINANCIAL STATEMENTS
JUNE 30, 2025
(WITH SUMMARIZED COMPARATIVE FINANCIAL
INFORMATION FOR THE YEAR ENDED JUNE 30, 2024)
TOGETHER WITH INDEPENDENT
AUDITOR’S REPORT
MYSTIC
ACCOUNTING
GROUP, LLP
CERTIFIED PUBLIC ACCOUNTANTS.

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

Opinion
We have audited the accompanying financial statements of The Waterford Public Library, Inc. (a nonprofit
organization), which comprise the statement of asset, liabilities, and net assets - modified cash basis as of June
30, 2025, 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,
8, and net assets of The Waterford Public Library, Inc. as of June 30, 2025, and its support, revenue, and
‘expenses for the year then ended in accordance with the modified cash basis of accounting as described in Note
1
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 responsibi 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 1 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 intemal 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
200 SANDY HOLLOW ROAD, STE 2, PO BOX 397, MYSTIC, CONNECTICUT 06355 + P 860.536.1040 + F 660.526.0716

are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of The Waterford Public Library, Inc.’s intemal 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 2024 financial statements, and we expressed
an unmodified opinion on those audited financial statements in our report dated December 30, 2024. In our
opinion, the summarized comparative information presented herein as of and for the year ended June 30, 2024,
is consistent, in all material respects, with the audited financial statements from which it has been derived.
ys
October 29, 2025

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
‘See accompanying notes to the financial statements
3,978,428
5—
—— 3.278.428
—
—— St
3,677,553
3,677,553
55,600
55,600
$__ 3,759,462
S$ 63,765
3,677,553,
3,741,318
18,144
3,759,462.
$__ 3,759,462

Contributions and bequests 40,703
40,703 20,987
Intergovernmental 15,744 : 15,744 14,213
Book sales and service 6,639 - 6,639 6,832
Investment ineome 152,822 : 152,822 94,442
Gain on investment, net of fees 256,442 : 256,442 370,682
Miscellaneous 9,648 : 9,648 9,432
[Net assets released from restriction:
Satisfaction of time or purpose requirement 18,133 18,133) : :
‘Total support and revenue 343,000 (11,973) 331,027 366,985
EXPENSES
Program services 218,068 - 218,068 159,709
‘Management and general 5,191 - 5,191 5,191
Fundraising 1,618 - 1,618 1,888.
Total expenses 224,877 = 224,87 766,788
‘Change in net assets 318,123 1.973) 306,150 400,197,
Net assets, beginning, 3,741,318 18,144 3,759,462 3,359,265
Net assets, ending. 34059 TS GIS 4065612 “S3. 759,402
See accompanying notes to the financial statements
4

Online resources 36,039

36,039 28,500
Public relations 11,149 . : 11,149 13,961
Grant expense 19,576 - : 19,576 12,363
Office supplies 10,958 - : 10,958 6,249
Special projects 7,627 : : 7,627 3,169
Strategic planning - : : : 5,100
Miscellaneous 5,608 : - 5,608 5,236
Fundraising - - 1618 1,618 1,888
Total expenditures 3218068 3m OS 1,618 “S __224877 “S$ __ 166,788.
‘See accompanying notes to the financial statements
5

recognized at fair market value when gifted.
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
Cer ations 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 categori
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).
‘* 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 suificient 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, 2024, from which the summarized
information was derived.

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 I — 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, 2025, the Library's Level | financial assets consist of investments which are valued at quoted market
prices in active markets for identical assets. The Library had no Level 2 or 3 financial assets.

The Library s tax retum for the year ended June 30, 2025 is subject to examination by the IRS, generally for
three years after it has been filed.
Subsequent Events
Management evaluated subsequent events through October 29, 2025, 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 services 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, 2025 and 2024 were as
follows:
Adjusted Unrealized Unrealized Estimated
June 30, 2025 Cost Gains Loss Fair Value
Bauities S 182065 “$1354174 SF > SF 3174819
Bonds 732,235 16610 - 748,845
Money market funds: 54,764 = - 54,764
$2607.64 “S137 “S$ = 3 _378.428
Adjusted Unrealized Unrealized Estimated
June 30, 2024 Cost Gains Loss Fair Value
Equities S 16459 S112 TS = S 2,807,824
Bonds 699939 1,113 - 701,072
Money market funds 168.657, - : 168.657
$258.21 “S$ Lida “S = S_3671553

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 valu
achieved.
‘Maturities on the Library’s investments at June 30, 2025 and 2024 were as follows:
2025 2024
‘Amount % to Total ‘Amount % to Total
Less than one year 33978428 100% “$3,677,553 100%.
$3,978,428 100% "$3,677,553 100%
NOTE 4 BOARD DESIGNATED ENDOWMENT
‘The Library’s endowment consists of funds designated by the Board to function as endowments. The Board
designated endowment consists of the fair market value of the investment funds, without accrued interest. As
required by generally accepted accounting principles, net assets associated with endowments, including funds
designated as endowments, are classified and reported based on the existence or absence of donor-imposed
restrictions.
‘Changes in endowment net assets for the years ended June 30, 2025 and 2024 were as follows:
2025 2004
Board designated endowment assets, beginning ofyear “S$ _3,677,583. $3,287,467
Investment income 162,893 106,230
‘Net realized and unrealized losses 256,482, 370,682
Total investment retum, 419,335 476912
Contributions 43,500 25,600
Endowment funds utilized for operations (151,889) (100,638)
Investment fees 10,071) (11,788)
Board designated endowment assets, end of year 53978428 $3,677,553
Return Objectives and Risk Parameters.
‘The Library has adopted investment and spending policies for endowment assets that attempt to provide a
predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing
power of the endowment assets, Actual returns in any given year may vary from this amount. Endowment assets,
include those funds designated as endowment by the Board.

The investments are comprised of a board designated endowment fund. With regards to these funds, the Library
has adopted an investment policy with the primary objective of providing resources and appropriate oversight
of the funds to further the mission statement of the Library, now and in the future. As part of the investment
policy, the Library has adopted a spending policy by which the Board shall limit allocated endowment funding
in any fiscal year to between 3% and 5% of the average market value of the board designated endowment fund
for the previous three prior fiscal years ending June 30
Additionally, the Board has designated the Finance Committee (the Committee) to effectively oversee the