Brooklyn Public Library

“In accordance with the library's by-laws, the governing board of trustees has the authority to manage and control the affairs of the library. The board of trustees shall consist of no more than thirty-eight members. By virtue of their respective offices, the mayor of the city of new york, the comptroller of the city of new york, the speaker of the city council of the city of new york and the president of the borough of brooklyn are ex-officio trustees of the library. Each ex-officio may appoint a representative to serve on his or her behalf as a member of the board. Each representative appointed by an ex-officio shall be counted as part of the quorum, may vote and have all the same rights and privileges of the ex-officio or any other member of the board, except in cases where this is prohibited by law. The mayor of the city of new york and the president of the borough of brooklyn may each appoint eleven trustees to hold offices for a term of three years or until their resignation or their successor is appointed.”

“The form 990 is prepared by management, with the assistance of our tax preparers, eisner advisory group llc. Once a final draft of the form 990 is received from the external auditors, the vice president of finance conducts a first level review with the executive vice president for finance and administration and chief financial officer (cfo). Pending any amendments or corrections, the cfo and vice president of finance then review the draft returns with the president and ceo. After reviewing the draft with the president and ceo, the draft form 990 is forwarded to the members of audit committee in preparation for a formal review at a meeting of the audit committee attended by the external tax preparers, senior members of the library's executive team along with the cfo and vice president of finance. At this meeting, staff review the reports with the attendees. Questions are fielded and if necessary, corrections are made. Once the review is completed, the members of the audit committee vote to accept the report for filing by the library's external tax preparers. Prior to filing the return (amended if required) it is forwarded to the full board for their review.”

“The library has a conflict-of-interest policy which is signed annually by every member of the board of trustees and key (senior) members of the library's management team. A copy of the library's conflict-of-interest policy can be obtained from the library's website at: https://www.bklynlibrary.org/sites/default/files/documents/trustees/conflic ofinterest.pdf”

“The salary of the president and ceo is based on a negotiated written employment contract, which includes a yearly adjustment for cost of living increases. The contract is renewable every three years. The salaries of the other officers and key employees are based on a compensation program designed by an independent consultant, ernst & young. The program includes salary grades. It is reviewed regularly and updated, as needed, to adjust the salary structure and ranges to ensure competitive salary ranges.”

“The library has a conflict-of-interest policy for members of the board of trustees and key members of staff. This policy is available for review on the library's intranet and trustee website. In addition, the policy is also available for review by the general public on the library's website. Financial statements: it is the policy of brooklyn public library to make its financial statements available to the public. Copies of its most recent audited financial statements are posted on its website and available to the public at the following link https:www.bklynlibrary.org/about/reports-publications copies are also available upon request from the finance department.”