BOF Budget Hearing Agenda & Backup 3/3/25

BOARD OF FINANCE 
 oR
AGENDA e783
& 6
Waterford Town Hall Monday, March 3, 2025
Budget Hearing Town Hall 7:00 p.m.
1 Call to Order
2 Public Comment
3.
Review the Appeal by the Board of Finance to the Board of Selectman reduction of
the FY26 Contingency Budget from $273,000 to $265,000 at the February 12, 2025,
Board of Finance Meeting.
4 10136 - Library
10129 - Police Department
6. 10122 - Emergency Management
7. 10123 ~ Fire Services
8 10103 - Board of Finance
9. 10121 - Contingency
10. Adjournment
Glenn Patterson, Chairman

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Budget summary
Budget explanations ...
Personnel worksheet ..
Revenue projection s.r.
WPL annual usage statistic ...
Meeting room groups.....
Grants Received & Looking ahead ...
Waterford Public Library, Inc. budget ..
Strategic plan, FY2025-2027 attached
Waterford Public Library, Inc. audit - will provide once we receive it from our accountant

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:
‘© 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 February of
2024, the library reported 39,964 circulations to non-resident cardholders. For this service, the library was
reimbursed $14,213.
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 90% 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.
Subscription access to e-books, e-audiobooks, e-magazines, streaming videos and music.
Subscription access to online reference databases.
* All library programs not funded by grants for adults, children and teens, including related
promotional materials.
‘© Furniture, equipment and building & grounds improvements and maintenance, other than capital
projects and repairs to building systems and infrastructure.
All of our library’s custodial supplies to maintain our seven public and staff restrooms.
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 our strategic planning expenses in FY2024 and FY2025’s.
special initiative to build a robust Spanish language collection for adults.

‘Over the summer, in response to the current environment of increased book challenges in libraries, and
at the direction of the CT State Library, a committee of library staff worked together to update our library's,
collection development policy along with our request for reconsideration form. Our new policy, available
on our website, incorporates First Amendment rights along with the American Library Association’s
Library Bill of Rights and Freedom to Read Principle while our revised form reserves the right of anyone in
our cardholder community to request that library administration reconsider ownership or placement of
any collection item that they find objectionable. The library's board of trustees, at its September 12, 2023,
meeting, approved this new policy and form.
During the months of September through December, a committee of library staff and trustees participated
in a statewide cohort of seven libraries sharing the services of a professional consultant to develop our
‘new strategic plan to guide our operations for the next three years. As part of the planning process, we
€ received over 400 survey responses and held four community conversations. The cornerstones of our new
plan are Belonging, Connection, Discovery and Education. A copy of our plan, approved by the library's
board of trustees at its January 9, 2024 meeting, is available on our website and is provided in this budget
submission.
‘Sunday hours returned on October 15 and continued through March 24, Over the 21 Sundays, we served
1,437 patrons. For April’s solar eclipse, the library distributed over 500 pairs of free eclipse viewing glasses
obtained via a national Solar Eclipse Activities for Libraries (SEAL) initiative.
In June, we were grateful that the Town installed a new external oil tank on the southwest corner of the
library building. This unit replaced the library’s underground tanks.
Over the past year, the library has increased our outreach efforts with more school! visits and class visits
to the library. For youth, we have added more programming for the birth to age 5 population, began
hosting a monthly Sensory Saturday program for neurodivergent children and families, and used grant
funds to develop a robust Spanish language collection for children and teens. For adults, we have
strengthened our partnerships with local organizations including the Waterford Historical Society, the
‘American Association of University Women (AAUW) and Waterford Residents for Inclusion and Social
Equity (RISE).
Our monthly e-newsletter, Discover More, has 1,831 subscribers; 1,133 people follow the library on
Instagram; and our Facebook followers currently number 3,300.
Cc The library staff, our board of trustees and our 7,131 cardholders very much appreciate the ongoing
support provided to the library for the benefit of residents and library users by the Town of Waterford.
re:

Ine DEPT/AGENCY | DEPT/AGENCY | DEPT/AGENCY
ITER DESCRIPTION REQUEST REQUEST REQUEST
PERSONNEL COSTS,
51110 | ADMINISTRATION 96,212 100,837 103,756
51210 | CLERICAL/TECHNICAL 693,918 728,795 739,630
CUSTODIAL-
51220 MAINTENANCE 87,131 93,336 91,265
51810 | OVERTIME & SUNDAYS 8,250 150 1,739
51910 | FRINGE BENEFITS 0 0 3,500
51920 | FICA (7.65%) 67,130 70,619 72,361
SUBTOTAL 952,641 993,737 1,018,250
SERVICES
52020 | POSTAGE 366 264 325,
REIMBURSABLE
52070 | EXPENSE 830 720 835
SUBTOTAL 1,196 984 1,160
MATERIALS & SUPPLIES
53010 | OFFICE SUPPLIES 4,000 450 450
53020 [ OTHER SUPPLIES 4,000 5 1,500
SUBTOTAL 8,000 455 1,950
EQUIPMENT
BOOKS/RELATED
54160 | MATERIAL 45,000 11,661 10,500
SUBTOTAL 45,000 11,661 10,500
DEPARTMENT TOTAL 1,006,837 1,006,837 1,031,860 _

or retire, update job descriptions and replace staff only when necessary. To reduce the amount of our
FY2026 budget increase, beginning in July of 2025, we will be closing the library at 5 p.m. on Thursday
‘evenings vs. our current closing time of 9 p.m. This change will result in an annual personnel savings of
$16,360. in addition, we will be reducing our Page hours by 4 hours per week for an additional savings of
$3,813.
51110 ADMINISTRATION $103,756
This line reflects the compensation for the director based on the current non-union management
professionals wage schedules.
51210 CLERICAL/TECHNICAL $739,630
This line reflects the compensation for four full-time librarians (MP) and thirteen clerical/technical
staff (AS) — full time and regularly scheduled part-time staff, and four library pages. Eight library staff
hold Masters of Library & Information Science degrees. Also included are longevity increases for six full-
time employees. Eight part-time staff will receive annual half-step increases
51220 CUSTODIAL/MAINTENANCE $91,265
This line includes the full-time building and grounds manager and one part-time evening and
weekend custodian and one 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 $7,739
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, $7,589 will enable the library to
open for 20 Sundays from 1 to 4 p.m., beginning on November 2 and ending on March 15 at an average
cost of $379 per Sunday which covers a custodian, 3 staff members and 1 page.
51910 FRINGE BENEFITS $3,500
‘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 $72,361
FICA has been calculated at 7.65%, per Board of Finance guidelines, and is included in the Personnel
Worksheet.

For FY26, we are anticipating mailing 445 pieces at the current of 73 cents.
Expended FY2024 ~ $312 Expended FY2023 - $334 Expended FY2022 - $330
52070 REIMBURSABLE EXPENSE. $835
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 1,254/year. For the first five
months of FY25, 462 miles have been logged. For FY2026, we are budgeting 1,246 miles at the current
federal reimbursement rate of $0.67.
Expended FY2024 - $858 Expended FY2023 - $778 Expended FY2022- $716
53010 OFFICE SUPPLIES $450 y
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 2022. In recent years, due
to inflation, we have seen significant price increases in some of these items, such as the processing cost
per book, which rose by 35 cents (a 39% cost increase), in 2022. Due to budgetary constraints, we are
requesting $450 in this line for FY2S. The Trustee budget will make up the deficit for this expense.
Expended FY2024 - $3,881 Expended FY2023-$3,749 _Expended FY2022 - $3,997
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 cover all other building maintenance supplies.
Expended FY2024 - $3,858 Expended FY2023 - $3,620 Expended FY2022 - $2,906"
“our FY2022 total is artificially low due to the Town's request to suspend spending in April of 2022.

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. As evidenced by the statistics provided,
our use of e-resources increased by 13% from 2022 to 2023 and by 24% from 2023 to 2024. We are happy
to see that patrons are enjoying our 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 more popular titles) for online access requiring the library to repurchase more
popular titles.
In May of 2023, the library received a $5,000 grant from the Community Foundation of Eastern CT to fund
‘our {Vamos a la biblioteca! initiative to provide bilingual storytime and create a robust Spanish language
collection of books and audiobooks for children and teens. During this same time period, the library's
board of trustees designated $2,500 to enhance our small and outdated collection of Spanish language
materials for adults.
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). Due to budget constraints, we have again
reduced this line for FY26 to $10,500 from its current level of $11,661. Factoring in inflation, to be equal
to our 2010 Town funding, this line should be $65,143 to provide the same purchasing power.
Expended FY2024-$44,999 _Expended FY2023- $43,999 __Expended FY2022 - $44,999

32/14/2020 | _UibraryDirector | 40 |  | 1oxzza67| _  | s037ssaa |  | 103,755.33 | 7.99728
TOTALS 101,22667 | 0.00 | 103,755.33 | 0.00 | 103,755.53 | 7,937.28
51210 CLERICAL TECHNICAL
09/15/2008 | DeptHead Adult sves | 40 | 37.7890 | 7697882 | 1.15468 | 78,903.42 | 118355 | 0.08697 | 612665
Dept Head-
owyis/2022 | petlieed” | ao | 35.1202 | 71,542.19 73,331.08, 7333108 | 5,609.83
Dept Head -
osyze/zo07 | Dent Head-§ | a | arseas | 24,6944 | 1.27008 | 86,786.68 | 1,301.80 | 9808848 | 6738.77
Dept Asst - Technical
ov7/aone | PASE Technical | go | sii67 | 63.70066 | - | 65389037 | - | 65,389.27 | 5,002.29
05/30/2006 | sec 2secretaryii_| 35 | 383900 | 61,295.85 | 35000 | 623053 | S000 | 6333053 | 484479
oajoa/zazz | 'nfo/Ret technics! | 35 | 252300 | ag.as3se | - | sisrs2i | - | sus7éar_ | 3.94558
02/05/3992 | technician | 35 | 31,600 | s5sa080 | 60000 | seaz32 | 60000 | s7s2932 | sacs
11/22/1993 | Technician | 35 | 31.2600 | $5500.80 | 60000 | 5692032 | 60000 | 5752932 | «40099
01/04/1988 | _ Technicians | 35 | 31.2600 | $5,540.80 | 60000 | sesz9.32 | 600.00 | 5752932 | 440099
10/31/2022 | Techi-PT-Graphics | 135 | 22.4209 | 1559575 | - | 15@0001 | - | 15,e0001_| 1,20870
ossrz/aois | MMo/RetAssstamtPT | 43 | a7a475 | seizes | 18,558.01 : 3sse.01 | 1,419.69
sys/rors_| ‘o/Ret Assistant PT | 45 | o7anx6 | 21,708.19 | - 21,463.28 ; 21,463.28 | 1,641.94
osjro/rors | MoRetAssstantPT | a6 | og.so | 2204182 | - | aasiras | - | 2311.46 | 1.79863
71/01/2008 | Technician | 36 | 26.2300 | 25,7658 | - | 2357770 | - | 2357770 | 1603.60
(08/07/2017 | Techniantet | 11 | 255106 | asaeese | - | meaaso | - 1464819 _| 1,12059
1as/20n2 | Technician | 7 | 223787 | 1556663 | 317738 aa77ae | 62555
1073/2024 _| PAGE Library Paget | 5 | 163500 | azizsa | - 4267.35 426735_| 32645
05/17/2022 | PAGE -tibraryPage!| 5 | 17.700 | 624652 448137 : aaeia7_|_ 34282
8/8/2023 _| PAGE LAibraryPage! | 7 | 17.700 | 790267 | 6273.92 627392 | 47995
B/8/2023_| PAGE LtibraryPage! | 5 | 17.700 | 620652 | 4481.37 : ‘aaea7_|_ 34282
TOTALS 740,003.41 | 4,574.72 | 724,045.09 | a7asas | 73963048 | 5650173
51220 - CUSTODIAL MAINTENANCE
anjrajacis | SUPER Grounds | ao | aa.acoo | soseo7s | § | razazes | 25000 | 7uo0a68 | 55752
04/02/2024 Custodian It as | 22.7241 | 21,449.21 17,724.80 - 17,724.80 E@)
rojo1/2073 | custodian sus | 1 | 296200 | soi7a6 | — 1546.16 5 1546.16 | 11828
ToTAis 3445633 | 000 | ou0ises | 25000 | o1zesea | 6981.75

‘TOWN OF WATERFORD
FRINGE BENEFITS WORKSHEET -36 WATERFORD PUBLIC LIBRARY
€ 2025/2026 FISCAL YEAR
une
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POSITION TAXES:
BENEFIT
FUNDING 5 (FCA)
Dept Head- “
Tesi 4000 3,500.00 | 267.75 HRA best estimate, fluctuates w/sick usage
0.00
0.00
0.00
0.00
0.00
TOTALS - FRINGE ***ADDED TO FICA ON PERSONNEL
pate 3,500.00 | 267.75 biieapaaly

DEPARTMENT: _Library
2022-2023 | 2023-2024 | 2024-2025 | 2025-2026
LINE ITEM ACTUAL | ACTUAL YTD ___ 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 $540.90 |" $1525.35 | $666.21 $4,598
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
®
e |elcloloe jololclo|8lolojlololelo |ololo|olojo|ojo
TOTALS $540.90 | $1525.35 $666.24 $1,598 $932 @

cr bilingual Wonderbooks and to provide
bilingual storytime programs.
Healthy Habits Project | CT State Library $2,000 | To purchase materials and provide
summer programs to teach children,
teens and families the importance of
healthy nutrition.
|’Summer al fresco Dominion Energy $2,000 | To provide summer music on the library's
concerts Foundation side lawn on five Thursday evenings.
Building Equity Based | CT State Library $500 | Stipend to support equity based
Summers initiatives for youth summer reading.
Creating Welcoming Kelsey S. Harrington $2,000 | To support the creation of a sensory bin
Spaces for All Foundation to support youth on the autism spectrum
while using the library, to purchase
sensory friendly furniture for the
children’s room and to fund art classes
for youth and adults with intellectual and
developmental disabilities.
General programming | M&T Bank Foundation | $3,000 | M&T bank funded a financial literacy
support program for teens given by Patrina Dixon
and supported the library's 100"
anniversary programs and fair.
STEAM programming for | Rotary Club of $500 To provide summer STEAM programs for
jldren Waterford children.
a $15,000

+ $350 from CorePlus Credit Union to fund our June book discussion in partnership with
Senior Services
* $250 from Chelsea Groton Bank and $3,000 from M&T Bank in support of youth
summer reading
+ $500 from Charter Oak Credit Union to fund our summer 2024 al fresco concerts
+ $500 from Waterford Rotary in support of youth STEM programs
* $5,000 from the Community Foundation of Eastern CT in support of a new English
conversation circle for new learners of English
$3,333 from Traveling Toys, Inc. to create a new circulating collection of toys for
children and teens
+ $2,500 from the Dominion Energy Foundation in support of an outdoor Storywalk in
the new Arnold G. Holm Memorial Park
For a total of $15,375

,
,
,
ADULT
BOOKS 57,946 56,505 67,293 19%
MAGAZINES 1,708 1,575 2322 47%
VIDEOS 10,573 8,896 8,338 6%
800KS-on-CD 2212 1,952 1915 2%
PLAYAWAY 962 879 1,151 31%
MUSIC CDs 1,360 1,054 1,538 46%
MUSEUM PASSES 133 207 239 15%
DOWNLOADS 21,463 24,224 30,300 25%
GAMES/LAUNCHPADS 440 604 767 27%
& EQUIPMENT/HOTSPOTS/THINGS 69 152 319 110%
TOTAL 96,865 96,048 114,182 19%
CHILDREN
BOOKS 43,806 46,247 56,473 22%
MAGAZINES 98 155 323, 108%
VIDEOS 2,326 2,247 2118 6%
AUDIOBOOKS 675 767 2,110 175%.
MUSIC CDs 322 316 461 46%
TOTAL 47,227 49,732 61,485 24%
TEEN
BOOKS 3,384 3,083, 3,908 27%
DOWNLOADS (ADULT CIRC.)
€-BOOKS 10,748 10,969 11,702 TM%
E-AUDIOBOOKS 8,248 10,702 13,209 23%
E-MAGAZINES 1,321 1,418 3,840 171%
E-VIDEOS 1,105 1,064 1,470 38%
EMUSIC 41 a 79 11%
TOTAL 21,463 24,224 30,300 25%
CHECK.INS 113,732 112,931 108,073, 4%
Cc WEBSITE HITS 61,830 63,500 54,421 14%
‘ONLINE SEARCHES, 3,068 3,741 3,797 1%

TOTAL 6,201 8,073 9,856 22%
INTERLIBRARY LOAN.
TO WATERFORD
GPL, MN, BILL 4,933 5,111 4,908 4%
OTHER LIBRARIES. 758 904 1,343 49%
TOTAL 5,691 6,015 6,251 4%
FROM WATERFORD.
GPL, MN, BILL 3,722 3,817 4,340 14%
OTHER LIBRARIES 574 386. 390 1%
TOTAL 4,296 4,203 4,730 13%
CUSTOMER DOOR COUNT 82,368 78,921 84,786 % O
borrowiT (C-Card) CIRCULATION 37,047, 35,161 42,245, 20%
PROGRAMS
ADULT
SESSIONS 239 182 224 23%
ATTENDANCE, 3,106. 2,995 3,498 17%
CHILDREN
SESSIONS: 207 248 373, 50%
ATTENDANCE, 8,410 13,525 16,808 24%
TEEN
SESSIONS: 26 39 44 13%
ATTENDANCE 298 373, 399 7%
TOTAL
SESSIONS an 469 ea 37%
ATTENDANCE. 11,814 16,893 20,705, 23%
LIBRARY CARD REGISTRATION 1,077 1,127 1,023 9%
ACTIVE CARDHOLDERS:
RESIDENT 5,484 5,408 5,602 4%
NON-RESIDENT 1603 1517, 1529 1%
TOTAL 7,087 6925 7131, 3%
COMMUNITY USE OF MEETING ROOMS 306 509 592 16%

Book Babes Book Club
Book Writing Club
CAPA (Connecticut Authors and Publishers
Association
Center for Healthy Aging
Chapman Foundation
Child First United Community and Family
Services (UCFS)
Clamshell Quilt Guild
‘Community Foundation of Eastern CT
Concerned Citizens of Waterford and East Lyme
Crafting With Friends
CSEA Chapter 416
CT Mayflower Society
Cub Scouts Lion Den Pack 36
Cub Scouts Pack 36 Den 2
Cub Scouts Pack 36 Den 7
Cub Scouts Pack 36 Tiger Den 4
Cub Scouts Pack 36 Wolf's Den
Day Election Survey
Department of Defense
Dirty Blue Shirts
East Neck Cemetery Association
ECKANKAR
EMDR First Responder Training
Friends of Harkness
Gamblers Anonymous (GA)
Garden Clubs of SE CT
Girl Scouts Troop 63414
Girl Scouts Troop 63431
Girls On the Run of SECT
Glen Brook Green HOA
Health Improvement Collaborative of SECT
Historic Properties Commission
Individual Meetings
Joseph Lawrence School of Nursing Alumi
Association
Kiwanis Club of New London
NOAA
Nurturing Families @ L&M Hospital
Out CT
Pequot Chapel
Pleasure Beach Association
Post House Condos
Prevent Heal Thrive
Rope Ferry Commons
Safe Futures
Sangam Club Drama Dance
SGI-USA Soka Gakkai international
Shoreline Ladies Unite
Simple Learning Solutions
Sound Lab Reunion
St. Brendan the Navigator
Stonehieghts Estates
Survivors of Homicide
‘Thames Landing Condominium Association
‘Thames River Garden Club
‘Thames Stamp Club
Tuesday Club
Ukuleles By the Sea
Waterford Democrats
Waterford Historic Cemeteries
Waterford Historical Society
Waterford RISE
Waterford Regional Lions Club
Waterford Regional Lions Club- Leos
Waterford Women's Club
Waterford Women's Club Book Club
Westneck Beach Association
WH. Chapman Foundation
Wild & Free New London
WOW Book Club

* $500 from the CT State Library to continue our Building Equity Based Summers
initiative
* $350 from CorePlus Credit Union to fund our June book discussion in partnership with
Senior Services
+ $250 from Chelsea Groton Bank and $3,000 from M&qT Bank in support of youth
summer reading
* $500 from Charter Oak Credit Union to fund our summer 2024 al fresco concerts
+ $500 from Waterford Rotary in support of youth STEM programs =
* $5,000 from the Community Foundation of Eastern CT in support of a new English
conversation circle for new learners of English
+ $3,333 from Traveling Toys, Inc. to create a new circulating collection of toys for
children and teens
+ $2,500 from the Dominion Energy Foundation in support of an outdoor Storywalk in
the new Arnold G. Holm Memorial Park
Since the end of the pandemic, the library has increased our outreach to youth, new residents
and underserved populations. Our efforts in increased marketing and offsite visits, especially to
Waterford schools, has resulted in higher circulation and program attendance. To better
support the needs of the community, the library would like to add 10 additional staff hours per
week, 5 in our youth services department and 5 for our adult services team.
In regards to capital projects, our main goal is to see the HVAC project be completed over the
next 9-10 months. Looking beyond that, the library's roof is getting close to end of life and at
some point, we would like to upgrade our elevator to be ADA-compliant and large enough to
accommodate motorized wheelchairs.

Endowment transfers $156,162 | $151,889 | $4,273 $100,638
Fundraising $35,000 | $30,000 | _ $5,000 $38,674
Grants $5,000 $5,000 $0 $18,389
Lost and damaged books $2,000| $2,000 $0 $2,108 |
Miscellaneous (copies, lost library cards, etc.) $3,00| $4,000 | _-$500 $3,757
Public copier income $4750| _$3,500| _ $1,250 $3,567
TOTAL INCOME $241,062 | $229,239 | $11,823 $202,499
EXPENSES
Auditor $5,000 | _$5,000 $0 $5,000
G Books & materials $119,300 | $120,798 | -$1,498 $77,253
Building maintenance & improvement $4,000, _$3,000| _ $1,000 $3,070
Dues, conferences, education $4,500 | $3,500 | _ $1,000 $2,935
Fundraising expenses $2,100 $2,100 $0 $1,888
Fundraising to endowment $32,900| $27,900 _ $5,000 $25,600
Furniture & shelving $3,500| $3,500 $0 $2,258
Grant expenses $5,000. $5,000 $0 $9,837
Innovation & Miscellaneous $1,500 | _ $1,500 $0 $0
Insurance $191 $191 $0 $191
Office equipment & supplies $9,000 | $10,050 | _-$1,050 $6,249
Online subscriptions $35,940| — $29,000| _ $6,940 $28,500
Programs & community relations
‘Adult Programs | __$5,500| _ $5,500 $0 $9,060
Children's & Teen Programs | _ $5,500 $5,500 $0 $4,901
Public copier lease & fees $4,881 $4,200| $681 $4,853
Special Projects $2,250, _$2,500| __-$250 $8,269"
TOTAL EXPENDITURES $241,062 | $229,239 | $11,823 $189,864
“Included $5,100 for Strategic Planning Project
rs |

meeting to order at 5:38 p.m.
2. FY26 Town Budget Submission
A motion was made by A. Rosenberg and seconded by N. Dragoli to accept
the revised budget to be submitted.
Since the original budget was approved at the December 3 Special Meeting,
further discussion with First Selectman Brule confirmed his request for a
Library budget with 2% increase plus funding for Sunday hours. This occurred
after the non-union raises of 2.5% were approved by the RTM for all library
staff.
Therefore, the only way to achieve the 2% increase is to reduce library hours.
Thursday evenings are the least trafficked nights and fewer programs are
scheduled,
The proposed revised budget would have the library close at 5 p.m. on
Thursdays. This will result in a savings of 3 shifts of part-time workers. Full
time staff will have hours reallocated. Also, reduction of 4 Page hours per
week will result in savings. An additional reduction in Books and Related
Materials will also result in savings and thus achieve the 2% increase.
A vote was taken. All in favor, none against.
3. Adjournment
A motion was made by J. Merrill, seconded by N. Dragoli, to adjourn. A vote
was taken. All in favor, none against. The meeting adjourned at 5:50 p.m..
Respectfully submitted 12 December 2024
Joy S. Merrill, Co-Secretary

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‘THE WATERFORD PUBLIC LIBRARY, INC.
FINANCIAL STATEMENTS
JUNE 30, 2024
(WITH SUMMARIZED COMPARATIVE FINANCIAL
INFORMATION FOR THE YEAR ENDED JUNE 30, 2023)
TOGETHER WITH INDEPENDENT
AUDITOR’S REPORT
MYSTIC
ACCOUNTING
GROUP, LLP
CERTIFIED PUBLIC ACCOUNTANTS.

Statement of Assets, Liabilities, and Net Assets  
oi
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 assets, lit and net assets - modified cash basis as of June
30, 2024, 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, 2024, 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 Responsi 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
respect to this matt
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 preperation 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, oF
200 SANDY HOLLOW ROAD, STE 2, PO BOX 397, MYSTIC, CONNECTICUT 06355 + P 860.536.1040 + F 660530.0716

fare appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of The Waterford Public Library, Inc.’s internal control. Accordingly, no such opinion is
expressed.
© Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the financial
statements.
‘© Conclude whether, in our judgement, there are conditions or events, considered in the aggregate, that
raise substantial doubt about The Waterford Public Library, Inc.'s ability to continue as a going concern
for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control related matters that
we identified during the audit.
Report on Summarized Comparative Information
We have previously audited The Waterford Public Library, Inc.'s 2023 financial statements, and we expressed
an unmodified opinion on those audited financial statements in our report dated September 14, 2023. In our
opinion, the summarized comparative information presented herein as of and for the year ended June 30, 2023,
is consistent, in all material respects, with the audited financial statements from which it has been derived.
he nti a?
Mystic, Connecticut
December 30, 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 li
lites and net assets
3,677,553,
3,677,553,
35,600
$_3,759,462
S 63,765
3,677,553
3,741 318
18,144
3,759,462
3,759,462
‘See accompanying notes to the financial statements
3
__3.287467_
ERLE
$_ 3,359,265
S$ 59,680
3,287,467
3,347,147
12,118
TT 5is9265—
S$ 39265

Intergovernmental 14,213 - 14,213 13,915
Book sales and service 6,832 : 6,832 7,066
Investment income, net 94,442 - 94,442 65,151
Gain (loss) on investment, net 370,682 - 370,682 310,510
Miscellaneous 9,432 - 9,432 9,199
Net assets released from restriction:
‘Satisfaction of time or purpose requirement 12,363 (12,363) : -
‘Total support and revenue 560,959 6,026 366,985 477,287,
EXPENSES
Program services 159,709 - 159,709 173,881
Management and general 5,191 - 5,191 4,691
Fundraising 1,888. : 1,888 1,725
Total expenses 166,788 : 166.788. 780,297
Change in net assets, 394,171 6,026 400,197 296,990
Net assets, beginning, 3,347,147 12,118 3,359,265 3,062,275
Net assets, ending S 37s SIA S37SOAGL © “S 3359,265
See accompanying notes tothe financial statements
4

Grant expense
Office supplies
Special projects
Strategic planning
Miscellaneous
Fundraising
‘Total expenditures
‘See accompanying notes to the finan
5
statements
12,363 - - 12,363 9,837
6,249 - : 6,249 6,575
3,169 - : 3,169 6,502
5,100 - - 5,100 E
5,236 - : 5,236 3,856
- = 1,888 1,888 1,725
S197 so 1,888 "S _166,788 “$180,297

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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 atthe 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).
* 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 Nore 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, 2023, from which the summarized
information was derived.

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 capit its art collection retroactively in conformity with accounting prit
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 | measurements),
Realized and unrealized gains and losses on these investments are reported in the Statement of Revenues,
Expenses, and Changes in Net Assets ~ Modified Cash Basis, as increases or decreases in net assets without
donor restrictions unless their use is restricted by explicit donor stipulations or by law. Investment income and
gains restricted by donors are reported as increases in net assets without donor restrictions if the restrictions are
met in the same reporting period in which the income and gains are recognized.
Fair Value of Financial Instruments
US GAAP defines fair value and establishes a framework that includes a hierarchy that categorizes and
prioritizes the sources used to measure and disclose fair value. Fair value is defined as the price that would be
received in a sale of an asset or paid to transfer a liability in an orderly transaction between market participants
at the measurement date. The hierarchy is broken down into three levels of input that market participants would
use in valuing the asset or liability, which can be summarized as follows:
Level 1 ~ Quoted prices in active markets for identical assets or liabilities.
Level 2 ~ Quoted prices for similar assets and liabilities in active markets.
Level 3 ~ Valuation based on inputs that are unobservable therefore requiring management's best
estimate of what market participants would use as fair value.
The level of a financial instrument within the fair value hierarchy is based on the lowest, or least observable,
level of input that is significant to the fair value measurement. Fair value estimates discussed herein are based
upon certain market assumptions and pertinent information available to management. The respective carrying
value of certain on-balance-sheet financial instruments approximates their fair values due to the short-term nature
of these instruments.
At June 30, 2024, 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 o 3 financial assets.

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three years after it has been filed.
Subsequent Events
Management evaluated subsequent events through December 30, 2024, 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 sa
‘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 ofthis support would have a negative
impact on the Library’s programs and activities.
and fringe benefits paid to the Town of Waterford
Credit Risks
‘The Library's financial instruments that are exposed to concentrations of eredit 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, 2024 and 2023 were as
follows:
Adjusted Unrealized Unrealized Estimated
June 30,2024 Cost Gains Loss Fair Value
Equities S 1,633,561 “S 1174263 S$ = S 2,807,824
Bonds 297,526 403,546 - 701,072
Money market funds 168,657 - - 168.657
$2097 “S_1S73O S$ = S_ 3677553
Adjusted Unrealized Unrealized Estimated
June 30, 2023, Cost Gains Loss Fair Value
Equities S 163561 S$ 9434 S$ = S 2547875
Bonds 105,366 - (5,036) 700,330
‘Money market funds 39,262 : : 39,262
S$ 2378189 S_914314_ SGI). _S_3.287.467

Management evaluates the Library’s investment portfolio for other-than-temporary impairment at least on a
quarterly basis, and more frequently when economic or market conditions warrant such an evaluation.
Consideration is given to the length of time and the extent to which fair value has been less than cost, the financial
condition of the issuer, and the intent and ability of the Library to retain the investment until a recovery value is
achieved,
Maturities on the Library's investments at June 30, 2024 and 2023 were as follows:
2024 2023
‘Amount %o Total ‘Amount ‘% to Total
Less than one year S_ 3,671,553 100% "$3,287,467 100%
$3,677,553 100% $3,287,467 100%,
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, 2024 and 2023 were as follows:
2024 2023
Board designated endowment assets, beginning of year $3,287,467 $2,997,806
Investment income 106,230 75,626
Net realized and unrealized losses 370,682 310,510
Total investment retum 476,912 386,136
Contributions 25,600 35,000
Endowment funds utilized for operations (100,638) 121,000)
Investment fees 11,788) 0475)
Board designated endowment assets, end of year, $3,677,553 “$3,287,467
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.

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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
management of the endowment fund. The Committee is charged with having a semiannual account review
between themselves and the outside investment managers to review the performance of the investments.
NOTE 5-NET ASSETS WITH DONOR RESTRICTIONS
At June 30, 2024 and 2023, net assets with donor restrictions consisted of the following:
Purpose restriction:
Unspent grants S844 S$ 12118
‘The restrictions placed on the funds by the donors stipulate when the funds may be used (timing restriction). All
of the funds with restrictions are expected to be spent in the following year. Net assets with donor restrictions
‘were released from restriction by incurring expenses satisfying the restricted purpose specified by the donor or
by the passage of time. The net assets released from restrictions for the years ending June 30, 2024 and 2023,
were $12,363 and $9,837, respectively
NOTE 6 - LIQUIDITY AND AVAILABLE FOR GENERAL EXPENDITURE
The following table reflects the Library’s financial assets as of June 30, 2024 and 2023, reduced by amounts not
available for general use within one year in accordance with its Investment Policy and due to contractual or
donor-imposed restrictions:
2024 2023
Financial assets
Cash and cash equivalents S$ 26309 $16,198
Investments 3,677,553 3.287.467
Financial assets, end of year 3,703,862 3,308,665
Less: those unavailable for general expenditure in one year
Net assets with donor restrictions 18,144 12,118
Board designated endowment and reserve funds
‘not currently authorized for expenditure (96.75% & 96%, respectfully) ___3,558,033 3,155,968
Financial assets available for general expenditure within one year S127,85 “$135,579
Board designated endowment funds are authorized by the Board for expenditure.
10

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