Franklin Lakes August 17, 2011 THE VILLADOM TIMES I • Page 7 Council and library review return of excess funds by Frank J. McMahon Two members of the Franklin Lakes Council recently met with two members of the library board to review their positions on the return of the library’s excess funds to the borough for tax relief. Councilman William Smith and Councilwoman Nathalie Lota met with Rose Peligri, the president of the library board of trustees, and trustee Louise Riccobene on Aug. 1. Smith and Peligri agreed that it was a positive meeting and one that permitted both sides to have a greater understanding of each other’s position in the matter. The issue about how much of the library’s excess funds would be returned to the borough, however, has yet to be decided. Last year, the New Jersey Legislature enacted a law that requires municipal libraries to return excess library funds to their municipalities for taxpayer relief. Franklin Lakes Mayor Frank Bivona claims there is over $1 million in surplus funds that should be returned to the borough. Bivona claims, however, that the library board has transferred most of that money to a restricted account for capital improvements and contingencies leaving only about $37,000 available to be returned to the borough. “I remain diligent and determined to have the excess funds returned to the borough,” Mayor Frank Bivona said at a recent council meeting. Smith reported to the council at that meeting that Peligri and Riccobene agreed the initial excess funds figure of about $37,000 was a preliminary number and that excess funds would be discussed at the library board’s next meeting in September. Smith also said he asked the two trustees to ask the library board not to commit any funds to capital projects until the council receives the library’s strategic report in November. After the meeting, however, Peligri said the library board is not ready to discuss any monetary amount that is due to the borough until the board has completed a strategic plan for the library to determine what expenditures would be necessary going forward. Music under the Stars has been rescheduled for Tuesday, Aug. 16. (Rain date: Aug. 17.) The Franklin Lakes Memorial Pond Committee along with The Franklin Lakes Public Events Committee will host the event featuring The Jersey Rollers Band from 8 to 10 p.m. at the municipal field behind borough hall (480 DeKorte Drive). The event commemorates the Tenth Anniversary of 9/11 and benefits The Franklin Lakes Memorial Pond project. Attendees are encouraged to bring a lawn chairs and blankets, snacks, and drinks. No tickets are required, ‘Music under the Stars’ rescheduled Peligri pointed out that the library is required by state law to prepare a strategic plan for the maintenance of the library and that plan must be approved by the state librarian. She confirmed, however, that it was agreed that the library board would not expend any capital funds before the September meeting of the library board. Smith said he felt the two sides were headed in the right direction and he hoped to end up with a good faith action by the library board to give money back to the taxpayers. Bivona raised the issue of the return of library excess funds to the borough at a July council meeting. He said the library has a big surplus while the borough has $2.3 million in debt. He pointed out that debt is the result of the borough’s funding of over $2.3 million of the $3.6 million cost of the expansion and renovation of the library in 2002 and 2003 through the issuance of bonds and use of the borough’s capital improvement fund. During the expansion and renovation, Bivona said, the borough continued to provide the statutorily required funding to the library for its operation while the library saved in operating expenses and accrued a surplus because the facility was closed during that time. but a donation to the Franklin Lakes Memorial Pond would be welcome. All are invited. The Franklin Lakes Memorial Pond was built by volunteers with donated funds. Additional funds are needed to purchase plantings required by the DEP, lighting, and maintenance. Donation checks may be sent to: The Franklin Lakes Memorial Pond Fund, P.O. Box 217, Franklin Lakes, NJ 07417. For more information, contact Jo Ann Romano at jromano@cinemaads.com.