North Merrick residents continue to be over taxed; there will be no North Merrick Library Budget vote again this year. The North Merrick Library Trustees met for their monthly meeting on February 25, 2010. The Trustees accepted the monthly Treasurer's report, which noted the Library's cash balance as of January 31, 2010 is over $1,750,000 and the current year's budget being underspent by $170,090.14. Seven months into this years budget and again there is excess money. According to the last 4 years Financial Reports, the Auditor for the North Merrick Library has noted that the Library's net assets increased by an average of $256,000. When will North Merrick residents see a budget that is not padded?

$6.824 Million, that is the current projected cost of the North Merrick Library Renovation. The North Merrick Library Trustees met for their monthly meeting on June 15, 2010. The Trustees accepted the monthly Treasurer's report, which noted the Library's cash balance as of May 31, 2010 is $1,855,255.75 and the current year's budget being underspent by $273,188. Eleven months into this years budget and again there is excess money. Mr. Witt the Library Director admits the library budget consistently underspent. Negotiations are underway to have a 50 foot Cell Phone Tower placed at the North Merrick Library.

North Merrick residents continue to be over taxed; as there was no North Merrick Library Budget vote again this year. The Library Board accepted the Treasurer's report for the last fiscal year, which ended on June 30, 2010, the library spent $1.86 million, more than $290,000 less than its $2.15 million adopted budget (as reported by Ryan Bonner). This together with the last 4 years Financial Reports, the Auditor for the North Merrick Library has noted that the Library's net assets increased by an average of $256,000. When will North Merrick residents see a budget that is not padded? Where is the fiscal prudence? These are not small sums of money. In these trying economic times we need better accountability from our Library Trustees.

North Merrick residents will continue to be over taxed; as it appears there will be no North Merrick Library Budget vote again this year. The North Merrick Library Trustees met for their monthly meeting on January 18, 2011. The Trustees accepted the monthly Treasurer's report, which noted the Library's cash balance as of December 31, 2010 is $1,710,231.92. The cash balance of the general fund is $391,747.74 and the capital reserve fund has a cash balance of $1,318,589.18. The Library Board has decided to seek 100% financing of the $6.75 million dollar bond for the buildings renovations. Why isn't any of the capital reserve fund not being used to offset any of the $6.75 Million to be voted on for the buildings renovation? The Library wants to add a large addition to the current building structure. Why should this be done? Adding an extension to the building is not a refurbishment. The Library Board has not considered a space utilization study to see if the existing space is sufficient enough for the communities needs. This study should be done before any extension is built to the current structure. As a community asset, the building needs to be maintained with a new roof, windows, and heating/cooling system. Spending close to $7 million in this fiscal climate is not fiscal prudence. Asking the residents of North Merrick to pay for it over 20 years is unreasonable. In these trying economic times we need better accountability from our Library Trustees.

North Merrick residents will continue to be over taxed; as it appears there will be no North Merrick Library Budget vote again this year. The North Merrick Library Trustees met for their monthly meeting on February 15, 2011. The Trustees accepted the monthly Treasurer's report, which noted the Library's cash balance as of January 31, 2011 is $1,731,369.41. The current year's budget has been underspent by over $309,000, and seven months into this year's budget again there is excess money. The Library Board has decided to seek 100% financing of the $6.75 million dollar bond for the buildings renovations. Why isn't the capital reserve fund being used to offset any of the $6.75 Million to be voted on for the buildings renovation? The Library wants to add a large addition to the current building structure. Why should this be done? Adding an extension to the building is not a refurbishment. The Library Board has not considered a space utilization study to see if the existing space is sufficient enough for the communities needs. This study should be done before any extension is built to the current structure. As a community asset, the building needs to be maintained with a new roof, windows, and heating/cooling system. Spending close to $7 million in this fiscal climate is not fiscal prudence. Asking the residents of North Merrick to pay for it over 20 years is unreasonable. When will North Merrick residents see a budget that is not padded?

The North Merrick Library Trustees met for their monthly meeting on March 15, 2011. The Trustees accepted the monthly Treasurer's report, which noted the Library's cash balance as of February 28, 2011 is $1,723,324.93. The cash balance of the general fund is $416,012.82 and the capital reserve fund has a cash balance of $1,304,312.11. The current year's budget has been underspent by over $300,000, and eight months into this year's budget again there is excess money. For the last 5 years the North Merrick Library's net assets increased by an average of $256,000 because the library does not spend what is budgeted. These are not small sums of money. Where is the fiscal prudence?

The capital reserve fund should be used in place of a 20 year bond for the buildings renovation. As a community asset, the building needs to be maintained with a new roof, windows, and heating/cooling system. I agree with Bill Pezzulo (President, North Merrick Library Board) who said at the library meeting on March 6th, that if the referendum is voted down, the library could use the Capital Reserve fund in conjunction with some budget increases right away to replace the windows, roof, and HVAC and not build the extension. Some of the cost estimates for the proposed project costs are unreasonable; such as $817,530 in construction manager & architect fees (the Library's architect has the highest fees in Nassau County); which is over 12% of the total cost.

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The cost of the bond financing and related costs is $475,000; because financing through the N.Y.S. Dormitory Authority is more expensive. The estimated cost of payback at $11 a month payback cost per household is only an estimate for the first year; due the changes in our homes assessed valuation every year and Nassau County changes the adjusted base proportions on each class of property shifting the tax burden to the homeowner.

Spending over $7 million in this fiscal climate is not fiscal prudence. Asking the residents of North Merrick to pay for it over 20 years is outrageous; let alone having to pay over $4 million in interest on the bond. In these trying economic times we need better accountability from our Library Trustees.