Annual To-Do List for Library Boards: Information on Federal, State & Local Filings
Public Libraries in New York State are accountable for filing specific federal and state reports to the Internal Revenue Service, NYS Education Department and the NYS Office of the Comptroller. These reports serve as official documents demonstrating a public library’s compliance of fiscal reporting and Minimum Standards.
Oaths of Office
All library trustees should take Oaths of Office but only municipal, public district, and school district libraries are required to file those Oaths of Office with the County or Town Clerk. The Oath specified in the New York State Constitution reads (and is worth using in even Association libraries):
“I do solemnly affirm that I will support the Constitution of the United States, and the constitution of the State of New York, and that I will faithfully discharge the duties of the office of trustee of the Library, according to the best of my ability.”
For more information: http://www.nysl.nysed.gov/libdev/trustees/oath.htm
Annual Report to NY State
Opening in January and due by March 1, the state requires that every library complete an annual report through the Bibliostat Collect portal detailing the services, programs, governance, revenue, and expenditures of the library. Libraries should work with STLS to complete this report. For more information: http://www.nysl.nysed.gov/libdev/libs/#annrep
Federal IRS Form 990
This form is the only required report of the Internal Revenue Service. The type of 990 Form public libraries should file depends on a library’s financial activity (budget size). Libraries with complex budgets might consider procuring a Certified Public Accountant to file on the library’s behalf. Libraries with budgets less than $49,999, may opt to file a simplified e-Postcard. Visit the IRS website for more information.
NY State Public Library Construction Aid
Typically announced in April and due in June, STLS administers this half a million dollar program to fund library construction projects from the installation of elevators and solar panels, to HVAC and new library buildings. Planning for construction is a year round process and STLS can help you. For more information: https://www.stls.org/construction-aid/
NY State Tax Cap & Tax Cap Compliance Forms
The Tax Cap Form is an online questionnaire required by the New York State Office of the Comptroller. All libraries must file this form if they have a budget vote. The deadline is fiscal year dependent (see Action Calendars above). Libraries must establish an online account with the Comptroller’s Office in order to file the report. For more information: http://www.osc.state.ny.us/localgov/realprop/localgovernments.htm
For help on these or any other board action, please contact Brian M. Hildreth (communitylibrarypartner@stls.org).