>I received this email from my friend Don Watson, he has been very busy the past few days looking into the issue of whether or not the Township can confiscate surplus funds from the Middletown Library. He found a bill that was signed by Gov. Christie that states that libraries can maintain surpluses of 20% or more of their operating budgets depending on certain circumstances like pending capital projects or grants.
Nice work, thanks Don !
In case you have been following the issue about the Township trying to get money from the Library to subsidize the Township budget, I have been doing some research and corresponding with individuals over the past few days. There is a law that passed in the end of October that outlines exactly what the Township is entitled to from the Library funds. I have attached the version, as it appears in the books. In essence, the Library can keep its operating budget plus another 20%, excluding funds restricted for capital projects and grants to be maintained as surplus.
This is all the Library is required to do. They do not have to pay rent or pay for the bond the Township issued to rebuild the Library. If this was the case the Township should also be treating the Arts Center in the same light. What about every other department? Shouldn’t they be paying for the facilities they utilize? The Library is not like the Sewer Authority. The Library is part of the Township government and the Library budget is part of the Township budget. Look at the bill lists for every month. It is a State law that says a certain amount of taxes collected, based on the value of the rateables in town, that havwe to go to fund the Library.
You can read the bill signed by Gov. Christie >>> Here