MURRAY — The Calloway County Public Library Board of Trustees heard its annual audit report Tuesday, as well as some legislative concerns that will impact library funding throughout the state.
Frank Harris, CPA with Reed & Co. in Mayfield presented the annual audit for the board, and said the board was in good shape. Harris provided a rundown of the provided documentation for the board and provided some highlights.
“You had revenue over expenses of about $420,000, and last year it was $499,000,” Harris said. “So it was a little less than last year, but it is on the positive side. So you brought in more money than you spent.”
Harris said that all the library’s assets and liabilities are intact. He also made note of the library’s pension and hospital liability.
“The next biggest thing is the pension liability and the hospital insurance liability of $1 million,” Harris said. “Your biggest notes are about these liabilities.”
Harris said the numbers for the library looked good, and there was no bad news to report.
“I don’t have anything negative to say about this; it is all positive,” Harris said. “You are doing a good job, and you’ve got money in that bank and that is always helpful.”
During some questions from the board, the question of how much the library’s money is insured for came up. In the notes from Reed & Co., it was noted that the FDIC only guarantees up to $250,000. The board asked to have more information brought to the next meeting on how the library’s money is insured beyond that.
In her report to the board, CCPL Director Mignon Reed told the board about legislation in the Kentucky House of Representatives that would impact funding for libraries across the state. She said such cuts would impact CCPL by about $20,000.
“I want to bring your attention to state aid … the House has passed a budget that entirely eliminates state aid to libraries,” Reed said. “I sent everyone an email asking us to call and contact our senators asking them to restore state aid in the budget. For us, that means a loss of around $20,000.”
Reed also talked about how the library is working to take precautions against the coronavirus (COVID-19).
“We have information at the front desk for the public and staff,” she said. “We are continuing the same process that we use for flu season. We are wiping everything down; if there are patrons coming in who are coughing or anything, we try to wipe that area down once they leave. We encourage people to stay home if they are sick, and we will be following the guidelines of the Murray-Calloway County Hospital and the Calloway County Health Department as far as closing down or quarantining or anything like that.”