G.N. Library presents further reductions to proposed 2021-22 budget

The Island Now
The Great Neck Library Board of Trustees presented a $9.7 million budget proposal for 2021-22 earlier this month. (Photo courtesy of Janelle Clausen)

BY JOHN NUGENT

The Great Neck Library Board of Trustees, in its second workshop on Monday to review the proposed $9.7 million budget for 2021-22, made some revisions and reduced the total by $27,000.

Steven Kashkin, chairman of the Finance and Audit Committee, once again presented the details of important revenue and expense items.

The most significant change comes from a decision to eliminate fines for overdue library materials. As a result of that new policy, $26,250 of anticipated revenue has been removed from the budget.

Kashkin noted, however, that some of that lost revenue might be recouped from lost book Income, which is estimated to be about $4,000.

Patrons will still be expected to return borrowed materials or face fines. “If we get rid of fines, we need to make sure that they at least bring the materials back,” Kashkin said.

As noted in the March 10 workshop, Kashkin highlighted the substantial reduction in expected interest income from bank savings accounts. He said that with interest rates now at less than 1%, income from that source will be dramatically lower in the coming year.

“The bottom line here is that every bank’s levels of lending are so low that they have no money coming in, thus they have no money to pay out to their customers for any type of interest,” Kashkin said.

Projected interest income has been reduced by $18,000 from the 2020-21 budget.

On another topic, after a discussion of the need to improve library web services, the board members agreed to add a $10,000 expense for website enhancement.

Board Vice President Mimi Hu expressed concern that the board was getting bogged down in the details of the budget numbers.

“We should look at the bigger picture to align our board with our long-range planning and with the mission of our library,” she said. She cited the library mission statement “to provide traditional and innovative services to our residents.”

The final proposal will be formally adopted by the board on April 1.

A public vote is scheduled for May 18.

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