Representative Town Meeting (RTM) - 1279 (05/13/2026)

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Table of Contents
Table of contents
Function statement .,.....ssesesseersees
Budget SUMMALY ...sccssseerseeeecee ae
Budget explanations ....
Personnel worksheet
Revenue projection .....
WPL annual usage statistics ...
Meeting room groups.......
Grants Received & Looking:ahead saijssasesscsssssesssciesasssavscassssnssenicsarsesbaisesvoeubassssnssbeserténendsenstocssbeogoesssssiuoasousasssies 15
Waterford Public Library, Inc. DUdget .......sssssssssssesssesssssssssssssesssesnssnsssssensessecsneasscnsceeseneesseeancaneetsesesseeneseneeneses 16
Five year trends..esssssscssssssssessesssesesenn 
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uisubssnubsnbi seacensauaeusi sbbivauiad inkasaahanajidievas pesssdauedgopereniaessonsdade 17-18
Infographics, FY2025 and Summer Reading 2025, attached
Strategic plan, FY2025-2027 attached
Waterford Public Library, Inc. audit

TOWN OF WATERFORD
FY2027 BUDGET REQUEST
DEPARTMENT: 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 governed by the Board
of Trustees of the Waterford Public Library, Inc. The Board 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 organization dedicated to serving the public in
the areas of education, information and recreation, making its services known and available to all. Per
Connecticut State Statute, Chapter 190, Section 11-24b:
e 
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
e 
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:
e 
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.
e 
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.
e 
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.

TOWN OF WATERFORD
FY2027 BUDGET REQUEST
DEPARTMENT: LIBRARY
16. In response to a patron suggestion, launched a plant propagation station in February to support
discovery and connection among library users.
17. Created small café area on lower level in response to survey requests.
18. Enabled curated lists in Overdrive to aid patron discovery of the library’s e-resources.
19. Added shortcut searches to the library’s online catalog to aid discovery of museum passes, toy
collection and our popular “library of things.”
20. Updated many catalog subject headings, as directed by the Library of Congress, to modernize
terms in support of diversity, equity and inclusion.
21. Offered bi-weekly drop-in tech sessions to help increase digital literacy in support of lifelong
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.

BUDGET SUMMARY
TOWN OF WATERFORD
GENERAL FUND
2026-2027
DEPT/AGENCY: WATERFORD PUBLIC LIBRARY
2024/2025 
2025/2026 
2026/2027
rate 
DEPT/AGENCY | DEPT/AGENCY | DEPT/AGENCY
TENA 
RRSCRIBTION 
APPROVED 
APPROVED 
REQUEST
PERSONNEL COSTS
51110 | ADMINISTRATION 
100,837 
103,756 
106,349
51210 | CLERICAL/TECHNICAL 
728,795 
739,630 
764,602
CUSTODIAL-
$1290 | aINTENANOR 
93,336 
73,540 
75,612
51810 | OVERTIME 
& SUNDAY 
150 
7,739 
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)! 
rpENGE 
720 
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 | eaTeRTAT, 
11,661 
10,500 
10,500
SUBTOTAL 
11,661 
10,500 
10,500
DEPARTMENT TOTAL 
1,006,837 
1,012,780 
1,045,991

TOWN OF WATERFORD
FY2027 BUDGET REQUEST
DEPARTMENT: 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 1, 2025 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.
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.

BUDGET EXPLANATIONS BY CATEGORY (CONTINUED)
52020 POSTAGE 
$325
© 
In FY25, we mailed 477 pieces comprised of 207 overdue notices, 270 pieces of library business mail
(bill payments, etc.) and 5 miscellaneous charges. Over 95% of our overdue notices are transmitted
via email. The trustee budget pays for all of our fundraising mailing expenses.
e 
Inthe first four months of this year, we have mailed 180 pieces.
For FY27, we are anticipating mailing 415 pieces at the current rate of 78 cents. We plan to
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

TOWN OF WATERFORD
FY2027 BUDGET REQUEST
DEPARTMENT: LIBRARY
BUDGET EXPLANATIONS BY CATEGORY (CONTINUED)
54160 BOOKS/RELATED MATERIAL 
$10,500
This line item is the town’s contribution, approximately 6.4%, of the library's total planned FY27 expenditure
of $163,877, 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, 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 FY¥2025, 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

TOWN OF WATERFORD
PERSONNEL WORKSHEET - 36 WATERFORD PUBLIC LIBRARY
2026-2027 FISCAL YEAR
LINE
51920
TOTAL 
PAYROLL
DATE OF 
HOURLY 
SALARY 
LONGEVITY 
SALARY 
LONGEVITY
EMPLOYEE 
HRS 
EMPLOYEE 
TAXES
FY26 
FY27
HIRE 
RT FY27 
FY26 
FY27 
eRUARY, 
(FIcA)
51110 - ADMINISTRATION
12/14/2020 
Library Director 
40 
- 
103,755.33 
- 
106,349.21 
- 
106,349.21 | 8,135.71
TOTALS 
103,755.33 | 
0.00 
106,349.21 
0.00 
106,349.21 | 8,135.71
51210 - 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 
Children's Sves 
40 | 
35,9981 
- 
75,164.01 
- 
75,164.01 | 5,750.05
06/28/2007 
Dent Head | 
40 | 42.6034 | %678618 | 4 35179 | 
gg,956.11 | 1,334.34 | 
90,290.45 | 6,907.22
Technical Svcs
7
09/08/2025 | PePtAss't-Technical | 44 | 58 o9g9 | 57,219.03 
§ 
58,649.51 
58,649.51 | 4,486.69
& Adult Svcs
05/30/2006 
SEC 2-Secretary II 
35 
35.2497 | 62,830.53 | 500.00 
64,401.75 | 500,00 
64,901.75 | 4,964.98
Info/Ref Technical 
51,875.11
04/04/2022 
hee childpenia 
35 | 
30.0587 
- 
54,917.38 
- 
54,917.38 | 4,201.18
03/09/1992 
Technician II 
35 
31.9400 | 56,929.32 | 
600.00 
58,354.38 | 600.00 
58,954.38 | 4,510.01
11/22/1993 
Technician II 
35 | 
31.9400 | 56,929.32 | 600.00 
58,354.38 | 600.00 
58,954.38 | 4,510.01
01/04/1988 
Technician I! 
35 
31.9400 | 56,929.32 | 600.00 
58,354.38 | 600,00 
58,954.38 | 4,510.01
10/31/2022 | Tech!-PT-Graphics | 14 
23.7500 | 16,385.18 
- 
17,356.50 
- 
17,356.50 | 1,327.77
10/31/2025 | Infor’ iad trig PT | 465 | 26.6550 | 26202.15 
‘ 
22,957.95 
2 
22,957.95 | 1,756.28
po/tovadad, 
| IMometAsiane eT: | ag | gagaan | 2Aeaze 
- | 2427069 | — - 
24,170.69 | 1,849.06
o6/rojaois | "Moret Assistant PT | 16 | ao.¢qio | 7645039 
- | 24,797.92 | - 
24,797.92 | 1,897.04
11/01/2008 
Technician | PT 
16 
28.9400 | 23,577.70 
é 
24,170.69 
- 
24,170.69 | 1,849.06
08/07/2017 
Technician | PT 
12 
26,9099 | 16,017.05 
- 
16,856.36 
- 
16,856.36 | 1,289.51
11/25/2022 
Technician | PT 
7.5 | 23,6071 | 13,433.96 
- 
9,242.18 
- 
9,242.18 
707.03
Vacancy 
PAGE 1-Library Pagel | 
6 
17.6109 | 4,831.37 
- 
5,515.73 
- 
5,515.73 
421.95
05/17/2022 | PAGE 1-Library Pagel | 
6 
17.7900 | 5,475.11 
‘ 
5,571.83 
- 
5,571.83 
426.24
09/15/2025 | PAGE 1-Library Pagel | 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 
735,874.54 | 4,785.34 | 759,754.87 
| 4,847.47 | 764,602.34 | 58,492.08
51220 - CUSTODIAL MAINTENANCE
09/14/2015 
er Mgnt 
40 | 35.2200 | 71,743.68 | 250,00 
73,539.36 | 250.00 | 73,789.36 | 5,644.89
06/21/2001 
Custodian || SUB 
60 | 30.3707 
1,893.50 
- 
1,822.24 
- 
1,822.24 
139.40
TOTALS 
73,637.18 | 250.00 
75,118.64 | 250.00 
75,611.60 
5,784.29
ee

SALARY 
LONGEVITY 
SALARY 
LONGEVITY 
AA 
ieee 7
FY26 
FY26 
FY27 
Fy27 
BUPLOYEE
SALARY 
(FICA)
51810 - 
OVERTIME &
OVERTIME 
SUNDAYS 
7,500.00 
- 
7,930.00 
. 
7,930 
606,65
51910-
FRINGE 
HRA FUNDING 
3,500.00 
4,500 
4,500.00 
344,25
FCA.
924,267.05 | 5,035.34 | 949,152.72 | 5,097.27 | 
958,993.15 | 73,362.98
TOTALS
WORKDAYS
2026/2027 
WEEKS TO BUDGET
261 
52.2
TOWN OF WATERFORD
FRINGE BENEFITS WORKSHEET - 36 WATERFORD PUBLIC LIBRARY
2026/2027 FISCAL YEAR
LINE
sigio. 
| LINE S1920
TOTAL | 
PAYROLL
POSITION 
NRA 
FRINGE | 
TAXES
FUNDING | BENEFIT
: 
(F.IC.A)
Dept Head -
Bee 
oye 
4000 
| 4,500.00 
| 
344.25
0.00
0.00
0.00
0.00
0.00
TOTALS - FRINGE
BENEFITS
4,500.00 
344.25
*HRA best estimate, fluctuates w/sick usage
***" ADDED TO FICA ON PERSONNEL
WORKSHEET

REVENUE PROJECTION
TOWN OF WATERFORD
PROPOSED REVENUE BY DEPARTMENT
GENERAL FUND
2026-2027 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
2024-2025 | 2025-2026 | 2025-2026 | 2026-2027
LINE ITEM 
ACTUAL 
YTD 
BUDGET | PROPOSED | VARIANCE
Alarm Monitoring
Alarm Penalties
Ambulance Subsidy
Beach Admission Fees
Benefit Assessments
Bulky Waste Fees
Conveyance Tax
Copy Fees
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 
$552.50 | $1,598.00 
$1,650. 
$5:
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
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clolcoloinicioicoioicoio!ico
o 
sjcicijco|o
TOTALS 
$1,440.84 
$552.50 | $1,598.00 
$1,650. 
$52

ANNUAL STATISTICS
% CHANGE
FY2023 
FY2024 
FY2025 __ 2025 VS 2024
CIRCULATION
ADULT 
96,048 
114,182 
115,558 
1%
CHILDREN 
49,732 
61,485 
60,384 
-2%
TEEN 
3,083 
3,908 
3,772 
-3%
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 
-A%
MUSEUM PASSES 
207 
239 
322 
35%
DOWNLOADS 
24,224 
30,300 
31,305 
3%
GAMES/LAUNCHPADS 
604 
767 
775 
1%
EQUIPMENT/HOTSPOTS/THINGS 
152 
319 
371 
16%
TOTAL 
96,048 
114,182 
115,558 
1%
CHILDREN
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 CDs 
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 
1,418 
3,840 
4,474 
17%
E-VIDEOS 
1,064 
1,470 
1,752 
19%
E-MUSIC 
71 
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%
ONLINE SEARCHES 
3,741 
3,797 
3,663 | 
A%

FY2023 
FY2024 
FY2025 
_|_ 
2025 VS 2024
ADULT QUESTIONS 
16,081 
10,764 
10,634 
-1%
CHILDREN'S QUESTIONS 
5,460 
5,356 
7,241 
35%
CIRCULATION DESK QUESTIONS 
11,011 
12,727 
10,179 
-20%
WIFI LOGINS 
27,492 
31,362 
32,229 
3%
COMPUTER USE
ADULT 
5,618 
6,417 
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 
5,111 
4,908 
4,752 
-3%
OTHER LIBRARIES 
904 
1,343 
1,577 
17%
TOTAL 
6,015 
6,251 
6,329 
1%
FROM WATERFORD
GPL, MN, BILL 
3,817 
4,340 
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%
borrowlT (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 
248 
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 
641 
645 
1%
ATTENDANCE 
16,893 
20,705 
21,361 
3%
LIBRARY CARD REGISTRATION 
1,127 
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%

TOWN OF WATERFORD
FY2027 BUDGET REQUEST
DEPARTMENT: LIBRARY
MEETING ROOM GROUPS
American Association of University Women (AAUW)
AAUW Book Club
Advanced College Planning
ARC of Eastern CT
Auxiliary L&M Hospital
Book Babes Book Club
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
CSEA (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 SE CT
Nerds of New London
New Mama Support Circle
Nurturing Families Network
One More Chapter Book Club
Parent Support Services (Circle of Security)
Pequot Chapel
Pequot Point Beach
Pokémon Group
Post House Condo Association
Rep. Gauthier + Sen. Marx Town Hall
Rope Ferry Commons Condo Association
RTM Meet & Greet
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
W H, Chapman Foundation
Women of Waterford Book Club (WOW)

GRANTS RECEIVED
In FY2025, the library applied for and received the following program grants totaling $7,602:
e 
$400 from SciStarter to support programs around the fall bird migration in October
© 
$1,110 from the Kelsey S. Harrington Foundation to support 3 sessions of Sensory Saturday programs
e 
$300 from Charter Oak Federal Credit Union to support Irish music events in March
© 
$1,442 CT State Aid to Libraries grant used to fund the attendance of 6 staff members at the annual CT
Library Association conference at the Mystic Marriott in April and to partially fund our Juneteenth
lecture, 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
e 
$3,000 from M&T Bank in support of 2025 youth summer reading
e 
$500 from Waterford Rotary in support of youth STEM programs
e 
$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.
a 
a 
oo

WATERFORD PUBLIC LIBRARY, INC. FY 2027 BUDGET
THE WATERFORD PUBLIC LIBRARY, INC.
TRUSTEE BUDGET
Change
FY'27 
FY'26 
‘27 over ‘26 
25 Actual
INCOME
Anonymous III/Strochlitz 
$14,400 
$14,350 
$50 
$14,410
Book sale 
$6,700 
$6,000 
$700 
$6,639
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 
$241,062 
$34,133 
$273,651
EXPENSES
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 
so 
$8,016
TOTAL EXPENDITURES 
$275,195 | 
$241,062 
$34,633 
$268,377 |
The library’s annual audited financial statement for FY2025 is attached.

WATERFORD PUBLIC LIBRARY 5-YEAR TRENDS
FY2021
PHYSICAL CIRCULATION TRENDS
Adult @Teen 
© Children
FY2022 
FY2023 
FY2024 
FY2025
100,000
90,000
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
E-RESOURCES CIRCULATION & DOOR COUNTS
~® E-Resources l= Door Counts
88,283
84,786
30,300 
31,305
21,463 
24,224
17,706
pee 
seat Aaa
FY2021 
FY2022 
FY2023 
FY2024 
FY2025

MEETING ROOM USAGE
FY2020 
FY2021 
FY2022 
FY2023 
FY2024 
FY2025
592 
609
ail
20,000
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
Program Attendance
—@e Adult Teen Children
pee 
17,241
yee
13,525.
gS
Pal
4
f
/
/
ne
7,451
aL 
i
ee 
ae
~ 
i”
ad 
3,498 
3,794
¥ 
3,106 
2,995 
—*
2 
°
1,600 
1,538
156 
224 
298 
373 
399 
326
Qewe 
—~ 
-— 
~ 
a 
*
FY2020 
FY2021 
FY2022 
FY2023 
FY2024 
FY2025

is
will
OUR
CORE 
PRINCIPLES:
At the 
Waterford 
Public
Library, 
our 
values 
define
what 
we 
stand 
for 
and
guide 
our 
actions.
e 
We 
believe 
in intelectual 
freedom,
confidentiality 
of records, 
and
accessibility 
to all, 
as 
articulated 
in the
First 
Amendment 
of the 
United 
States
Association’s 
Library 
Bill 
of Rights 
and
the 
Freedom 
to 
Read 
Principle.
We 
value 
literacy 
and 
lifelong 
learning.
We 
value 
trust, 
honesty, 
responsibility,
diversity, 
equity, 
inclusivity, 
and
respect 
for 
all.
We 
value 
responsive 
and 
friendly
service, 
focused 
on 
individual 
needs 
in
a comfortable 
and 
welcoming
We 
value 
teamwork, 
colaboration, 
and
community 
engagement.
We 
value 
helpful 
and 
skilled 
staff 
and
improvement 
in all that 
we 
do.
We 
value 
sensible 
and 
sustainable 
use
of 
resources.
We 
value 
providing 
a space 
for
community 
to 
gather 
and 
foster 
open
WATERFORD
PUBLIC 
LIBRARY
PLAN

LIBRARY
IS
A
PLACE
OF:
Connection
The
Waterford
Public
Library
builds
environment.
The
Waterford
Public
Library
supports
Provide
excelent
and
equitable
customer
service.
discussion.
Develop
spaces
for
learning,
engagement
Discover,
cultivate
and
grow
community
Education
The 
Waterford 
Public 
Lib
Strengthen
community
awareness
of
the
library’s
colections,
programs
and
services.
Incorporate
new
technologies
to
increase
Adapt
new
tools
and
techniques
to
encourage
discovery,
innovation
and
creativity.
beyond
the
physical
walls
of
the
library.

THE WATERFORD PUBLIC LIBRARY, INC.
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

THE WATERFORD PUBLIC LIBRARY, INC,
TABLE OF CONTENTS
JUNE 30, 2025
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
Page

MYSTIC
ACCOUNTING
GROUP, LLP
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, 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,
liabilities, 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 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 |, 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
200 SANDY HOLLOW ROAD, STE 
2 PO BOX 
307, 
MYSTIC. 
CONNECTICUT 0355 = & 860.586.1040 
« 
f #60 586.071

the override of internal control. Misstatements are considered material if there is a substantial likelihood that,
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,
e 
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,
e 
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.
Mystic, Connecticut
October 29, 2025

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, 2025
(with summarized financial information for 2024)
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
2025 
2024
31,584 
26,309
31,584 
26,309
3,978,428 
3,677,553
3,978,428 
3,677,553
55,600 
55,600
55,600 
55,600
4,065,612 
3,759,462
81,013 
63,765
3,978,428 
3,677,553
4,059,441 
3,741,318
6,171 
18,144
4,065,612 
3,759,462
4,065,612 
3,759,462
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, 2025
(with summarized financial information for 2024)
SUPPORT AND REVENUE
Grants
Annual mailing appeal
Other fundraising
Contributions and bequests
Intergovernmental
Book sales and service
Investment income
Gain on investment, net of fees
Miscellaneous
Net assets released from restriction:
Satisfaction of time or purpose requirement
Total support and revenue
EXPENSES
Program services
Management and general
Fundraising
Total expenses
Change in net assets
Net assets, beginning
Net assets, ending
Without 
With
Donor 
Donor 
Total 
Total
Restrictions 
Restrictions 
2025 
2024
$ 
> 
$ 
6,160 
$ 
6,160 
$ 
18,389
36,222 
- 
36,222 
31,538
6,647 
- 
6,647 
470
40,703 
- 
40,703 
20,987
15,744 
- 
15,744 
14,213
6,639 
- 
6,639 
6,832
152,822 
- 
152,822 
94,442
256,442 
- 
256,442 
370,682
9,648 
- 
9,648 
9,432
18,133 
(18,133) 
- 
-
543,000 
(11,973) 
531,027 
566,985
218,068 
- 
218,068 
159,709
5,191 
- 
5,191 
5,191
1,618 
- 
1,618 
1,888
224,877 
- 
224,877 
166,788
318,123 
(11,973) 
306,150 
400,197
3,741,318 
18,144 
3,759,462 
3,359,265
$ 
4,059,441 
$ 
6,171 
$ 
4,065,612 
$ 3,759,462
See accompanying notes to the financial statements
4

THE WATERFORD PUBLIC LIBRARY, INC.
STATEMENT OF FUNCTIONAL EXPENSES - MODIFIED CASH BASIS
FOR THE YEAR ENDED JUNE 30, 2025
(with summarized financial information for 2024)
Program 
Management 
Total 
Total
Services 
and General 
Fundraising _ 
2025 
2024
Accounting 
$ 
- 
$ 
5,000 
$ 
- 
$ 
5,000 
$ 
5,000
Occupancy 
10,785 
- 
- 
10,785 
5,328
Conferences 
3,179 
- 
- 
3,179 
2,935
Insurance 
- 
191 
- 
191 
191
Books and library materials 
113,147 
- 
- 
113,147 
76,868
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 
- 
- 
1,618 
1,618 
1,888
Total expenditures 
$ 
218,068 
$ 
5,191 
$ 
1,618 
$ 
224,877 
$ 
166,788
See accompanying notes to the financial statements
5

THE WATERFORD PUBLIC LIBRARY, INC,
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2025 AND 2024
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, 2024, from which the summarized
information was derived.

THE WATERFORD PUBLIC LIBRARY, INC.
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2025 AND 2024
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 to 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