Franklin Lakes October 19, 2011 THE VILLADOM TIMES I • Page 7 Mayor wants action to get excess library funds by Frank J. McMahon Franklin Lakes Mayor Frank Bivona has urged the borough council to take immediate action to force the library board of trustees to return about $1.2 million in excess funds to the borough for tax relief. In 2010, the New Jersey State Legislature enacted a law that requires municipal libraries to return excess funds to their municipalities for this purpose, and Bivona claims there is over $1 million in surplus that should be returned to the borough. He asserted, however, that the library board has transferred $1.1 million to a restricted account for capital improvements and contingencies, leaving only about $37,663 available to be returned to the borough. According to Bivona, the excess was generated when the borough funded over $2.3 million of the $3.6 million cost of the expansion and renovation of the library in 2002 and 2003. During that time, the borough was statutorily required to continue to fund the library at 33 cents per $1,000 of equalized assessed value of the borough. He claims that during the expansion the library also experienced reduced operating expenses and the library’s unrestricted surplus totaled $1.3 million as of Dec. 31, 2009. “I’m disappointed in the lack of action on my request to return the taxpayers’ money,” Bivona said at a recent council meeting. Bivona pointed out to the governing body that, at the library board’s request, the council withdrew a resolution that threatened legal action if the money was not returned, but with the understanding that none of the excess funds would be spent until the library board submitted a plan identifying existing capital projects to the state librarian. He said he now anticipates that the library board will approve additional spending on library building renovations “in defiance of that law.” “Action is needed immediately to address this before the money is spent on other projects,” Bivona told the council. “That’s my position on it, and it will continue to be my position on it.” Michael Cerone, the attorney for the library board, said the board must follow certain steps so that when and if they do decide to return some money to the borough it would be done with the approval of the state librarian. “That’s paramount,” Cerone said. “There’s no getting (continued on page 18)