Russell Library Finance Committee Meeting - May 14, 2026
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Russell Library Finance Committee Meeting - May 14, 2026
The Russell Library Finance Committee met on May 14, 2026, to discuss grant updates, the city budget, and the annual audit and 990. The committee reviewed fundraising results and state funding, received an update on the Common Council budget vote, and engaged in extensive debate over the type of financial audit to recommend to the full board, ultimately unable to reach consensus.
Consent Calendar
- The minutes of the previous meeting were approved unanimously.
Public Comments & Testimony
- No members of the public were present, and no public comments had been submitted.
Discussion Items
- Grant Updates: Brandy reported that the Library Giving Day campaign raised just over $10,000 after fees, the second highest total in the library's history. Ramona announced that a state appropriation secured by Representative Brandon Chafee for the Dolly Parton's Imagination Library program had been received via ACH, with an additional award expected for the coming fiscal year, totaling up to $100,000. These funds will help sustain the program after ARPA funds must be fully expended by December 31.
- City Budget Update: Ramona said the Common Council would vote on the citywide budget that evening at 6:30 p.m. in a hybrid meeting. The state budget includes over $5 million for Middletown, with roughly $2.3–2.4 million directed to the city. No proposals have changed the library's budget, which still faces a $40,000 cut to repairs and maintenance; the library may seek funding from the infrastructure bond passed in November 2025.
- Annual Audit and 990: The chair noted the committee's goal was to make a recommendation to the full board for its Tuesday meeting. Options ranged from full audits to reviews. Bob moved for a full annual audit, but the motion failed for lack of a second. Lori moved to do a review for the current year and a full audit the following year, aimed at allowing accounting staff to learn journal entries with auditor assistance; that motion was defeated with one in favor and three opposed. Andy then proposed alternating years between review and audit, starting with a review; that motion also failed with one in favor and three opposed. During discussion, Andrew noted the audit cost had more than doubled and represented about 12% of the annual budget, calling it a top-five expense and poor stewardship. Lori explained that a review would include staff training, unlike a full audit where the firm could not provide such assistance due to independence concerns. Ramona quoted $11,000 for a full audit plus 990 and $9,000 for a review plus 990, and noted the library is not legally required to have a full audit. Lynn expressed mixed feelings but acknowledged needing help with year-end journal entries for the first year. No recommendation was adopted.
Key Outcomes
- Minutes approved unanimously.
- No motion regarding the audit type passed; the committee will report the range of views to the full board, which will decide at its next meeting.
- The next finance committee meeting is scheduled for Thursday, July 23, at 4:00 p.m.
Meeting Transcript
Thank you. Ramona. I recognize Andrew White, myself, Bob, you, Lori, and Tom said he might join us, but he's in the car. But let's go ahead with with the business. Ramona, any uh sign of public comment? Nobody's excited about our doings. Well, I think people are excited, Andy, but there is there do not appear to be any members of the public here, and I haven't received any communications from such. Thank you very much. Uh the next item on the agenda is approval of the minutes. Um, thank you for preparing them. May I please have a motion to approve the minutes? Anybody raise their hand? Motion to approve. Andrew, thank you very much. And a second. Oh, Robert seconded it. Thank you very much. Uh any discussion on the minutes. Hearing none, then I'd like to ask for a vote, please. All those in favor of approving the minutes is submitted, signify by saying aye or raise your right hand. All right. Laura, I got it all. Okay. Um unanimously approved. Um moving to unfinished business item A is grant updates. Brandy, anything new you want to bring to our attention? I do not well, um, I don't really have any grant updates, but I did want to give an update about the library giving day fundraising campaign, which all told after fees. We did come in just over $10,000. Um, so I was pretty pleased with that given the current economic climate, and that is our second highest library giving day total so far. That's incredible. That really is an incredible number. So special thanks to everybody who contributed. Yeah, and Brandy, I think that was double last year's library. I thought it was five last year, yeah. Yep, it was amazing. Nice job. I have some money news as well. Um so you may recall that last year um as part of the state budget deliberations. Our um representative Brandon Chafey was able to uh earmark uh some funding for Russell Library to fund the Dolly Parton's Imagination Library. Um so that passed a year ago uh in last year's budget deliberations, and we actually received that funding at long last um today in our uh in our account through via ACH. So very exciting. Um so that's last year's money, but it appears that we've also been awarded that same amount in this year's budget go around. So it could be a total of up to 100,000. Um, which is really great. Uh as you might know, um, we have been funding Dolly Parton's Imagination Library through American Rescue Plan Act funds, ARPA funds, but those all by federal law have to be expended. Um, or you know, we can't spend any more of them after December 31st of this calendar year. So um this is very welcome and will help us keep that program sustainable for years to come. So thank you, Representative Chafee. And um thanks for all of you to to all of you for your support of this program because it's uh making a huge impact here in Middletown for our littles. Can they be spent on anything in particular?
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