(A letter from the Board of Trustees President, Rick Paula, on the increase of the proposed budget)
The budget process for the library is a fairly simple one. The Long Lake Library budget for 2024-25 is approximately $163,000. That budget can only increase by 3%, so that annual increase is about $4,800. We, as everyone in the state, are dealing with increased costs for operating the building like heating, electricity, Internet access and insurances.
We have been fortunate to get over $3,000 in grants to help with electricity and Internet costs, but those grants are no longer available. We have also added electronic services like Hoopla, which now must become part of the budget. During 2 years of the pandemic, we froze the budget. No increases even though operating costs continued.
Our library staff have not had a rise in several years. A new hire at Stewart’s Shoppe can make more than a library staff member. We provide no benefits but have dedicated staff providing services throughout the year. They have earned a raise. The question is how much and how to pay for it. A 3% raise in the salary account would be $2,700; a 5% raise is $4,600, less than $2,000 more. The question the board faced was how balance the budget, take care of our employees and where to find the funds.
We have been fortunate to be able to reposition funds under our control. With John Hendrickson’s approval, we were able to move the initial $250,000 donation that funded the start of the library from an account bearing .05% interest yearly ($50) to a certificate of deposit earning 4% interest ($15,000) last year. Other funds were also moved into higher yielding accounts. We are now able to replace the monies we had received from the town. So we have a savings account we can dip into to supplement our budget.
And that’s what we are going to do. We are moving $5,000 into the library materials account to continue to be able to purchase new books and DVDs. I would rather use interest earned on investments to buy “things” rather than pay salaries. And so, the budget will increase the 3%, staff will get well deserved raises and purchasing of materials will continue at the same rate. The members of the Library board are working to balance the needs of the town’s library patrons with the fiscal realities we face.
Please do not hesitate to contact me with any questions or concerns at rpaula@mac.com
