Village of Red Hook Red Hook Public Library Monthly Report May 2024
The Red Hook Public Library (RHPL) held their regular board meeting on Thursday, May 16th.
I was not able to attend as I was at the NYCOM conference.
Policy Committee
The Policy Committee reviewed several policy updates including Law Enforcement, Confidentiality, NonResident Borrower Card, & Customer Service.
Finance/Treasurer’s Report
A Simple IRA plan was presented. It includes a requirement of being at the Library for 2 years before being vested. It assumes a year over year increase in salary every year. The cost in Year 3 is projected at $5,574 with these assumptions.
The Cash Balance at the end of April is reported at $702,523.66. Jan – Apr 2024 – Net cash (Net Revenue less adjustments) = $87,385.13. Cash at the beginning of January was $615,138.53.
Balance Sheet shows Current Assets at $702,523.66, Fixed Assets at $847,055.96 for Total Assets of $1,549,579.62. Current Liabilities are $297,995.90 (the construction loan), Long Term Liabilities are $218,273.82 (Non-Current Gov’t Assets) with Total Equity of $1,033,309.90.
Budget vs Actuals – through April, the revenue is running a little over budget and the expenses are running under budget – as best I can tell from the report.
Director’s Report
Attendees for programs grew from March to April, as did Library Foot Traffic. Circulation is up vs last year in both physical and e-circulation for the month of April.
Various programs are coming up including Introduction to Spanish, Sherlock Holmes escape room, RE(a)D Together art project portraits, Summer Reading and a few others.
The stucco replacement and porch projects went out for bid. There was a walkthrough on May 15. Expected completion by end of this summer.
The May 21[st] vote for a $16,000 increase in State Education Law 259 funding passed.
Board of Directors
The Library Board voted to recommend Grace Kachigian to fill the vacancy created by the resignation of Don O’Shea.
Respectfully submitted, Karen Smythe
Board documents can be accessed on the Library Website: www.redhooklibrary.org/board-of-trustees/. The link to the board packet is imbedded in the text toward the bottom of the page.
Upcoming Meetings/Events
Next Board Meeting Thursday, June 20, 2024 at 6:30pm Committee meeting schedule is on the library calendar on the website.