Mayor Wants Library To Return Surplus

While the Franklin Lakes taxpayers continue to pay off $2.3 million in bonds from the 2003 Franklin Lakes Public Library renovation project, the library accrued a surplus in excess of $1 million, which Mayor Frank Bivona told the council he thinks should be returned to the taxpayers.

According to Bivona, a 2010 law requires libraries to return excess unrestricted funds to the borough. However, just prior to the legislation's passage, the library board redirected roughly $800,000 of its surplus into restricted capital improvement funds. Currently, roughly $37,000 is left to remit to the borough. 

"In my opinion, [the projects] are extravagant and unnecessary and doesn't meet the definition of restricted capital expenses," Bivona said during the work session, noting expenses such as teracotta tiles and paving are not met under the statute.

As a member of the Library Board of Trustees, he said he has asked the board not to sign off on the capital reserve and was met with opposition. The board also recently approved the hiring of a consultant for $20,000.  

"It is my belief that the library is of the highest quality and is a pearl of our community," the mayor said. "But it doesn't stop us from fulfilling our goad to see that the money is spent wisely. This money belongs to the taxpayers." 

As part of the Bergen County Cooperative Library System, Bivona estimated 30 to 40 percent of library services are utilized by non-residents. Franklin Lakes residents pay the highest funding per capita of libraries in the BCCLS system.