12, the council approved funding for library operating expenses except for library attorney fees in the amount of $3,276. “We are now the most capitalized in terms of surplus funds so I want to use that money in a proper way,” he said, noting he plans to present a capital improvement plan before the library board in the next few months.įor the past two months, the council withheld funding of operating expenses calling for accountability and a meeting to discuss library finance discrepancies. Joshi said the Edison Township Free Public Library, which has three branches - Main, North Edison and Clara Barton – has the highest circulation of libraries in the entire state. “One of the things I had suggested is having one room designated to virtual reality and to move the library system to a state-of-the-art system,” he said. The councilman said he also wanted the township auditor to see what type of capital improvements can be done with the trust account funds. He said only $700 was accumulated in interest with the current account. Joshi said the board agreed with his recommendation to move the money into a high interest account at Provident Bank with 2.25 percent interest. “This was a concern to me because as per state statute it says if there are any funds (surplus) that is not used by the end of the year, it has to go back to the township or has to provide information explaining what they plan to do with that money.” “We did find that there was approximately $760,000 sitting in a trust account that had accumulated over the past several years,” he said at a Township Council work session meeting on Dec.
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