Investment Policy

Adopted by the Board of Trustees 12/21/2010
Investment Policy

Policy Statement and Scope

This document will govern the investment activities of the East Greenbush Community Library (the Library). It is the policy of the Library to invest public funds in a manner which will provide the highest return with the maximum security while meeting cash flow demands. All investments will conform to all applicable laws and regulations governing the investment of public funds, including those of the New York State Comptroller.

Investment Objectives

The primary objectives, in priority order, of the Library’s financial investments are:

  • Safety of Principal – Safety of principal is the foremost objective of the investment program. All investments shall be undertaken in a manner that seeks first to preserve capital and second to fulfill other investment objectives.
  • Liquidity – The Library’s investment portfolio will remain sufficiently liquid to enable the Library to meet all operating requirements which might be reasonably anticipated.
  • Return on Investments (Yield) – The Library’s investments should generate the highest available return without sacrificing the first two objectives.

Authority and Implementation

The Director and Board Treasurer shall implement the investment program as directed by the Board of Trustees.  No person may engage in an investment transaction except as provided under the terms and with approval of the Board of Trustees.

Authorized and Suitable Investments

Under General Municipal Law and subsequent court rulings, all funds, including privately raised moneys must be invested in the following limited number of financial vehicles:

  • Time deposit accounts or certificates of deposit in commercial banks and trust companies located and authorized to do business in New York State;
  • Obligations made by the United States of America or guaranteed by the United States of America and obligations of the State of New York;
  • Under very limited circumstances, obligations of municipalities and other municipal corporations.

Maturity of Investments

No investment shall have a maturity date of more than 1 years from its date of purchase by the Library. To the extent possible and prudent, the Library will attempt to match its investment maturities with anticipated cash flow requirements.

Reporting

The Treasurer shall provide to the Library’s Board of Trustees monthly investment reports which clearly provide the following information regarding the investment portfolio: types of investment, depository institutions, principal balances, rates of return and maturities.

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Subject East Greenbush Card UHLS Card UHLS MyCard
Library Card Registration Free to any individual who resides or pays taxes in the East Greenbush Community Library taxing district or Town of Schodack. Cards expire and must be renewed every three years.

Free to any individual who volunteers or works at the EGRN Library. Cards expire and must be renewed yearly.

Free to partner educational agencies with verified employment. Cards expire and must be renewed yearly.

Those that live outside the UHLS area may purchase a temporary card at the price established by our Table of Fines and Fees. Cards expire and must be renewed yearly.

All ages eligible. Youth under age 16 must have their application completed and signed by a parent or guardian, who provides acceptable identification for them.

Card blocked at $5 or more in replacement costs or fines/fees

Fines vary according to individual library rules and UHLS resource sharing rules. The EGRN Table of Fines and Fees are applicable for items which are checked out from the East Greenbush Community Library

 Free to residents residing in a community served by a UHLS library.

All ages eligible. Youth under age 16 must have their application completed and signed by a parent or guardian, who provides acceptable identification for them.

UHLS library cards expire and must be renewed every three years.

Card blocked at $5 or more in replacement costs or fines/fees

Fines vary according to individual library rules and UHLS resource sharing rules. The EGRN Table of Fines and Fees are applicable for items which are checked out from the East Greenbush Community Library

 The UHLS MyCard is a fine-free, limited-access library card for youth. It is intended to address multiple barriers to serving youth and families, including:

  • Barriers to access related to fines (e.g. computer access, checking out materials)
  • Parents not present for a child’s library card registration
  • Previous fines on a child’s card

Free for youth residing in a community served by a UHLS library.Applicants 18 and under who are applying for a limited use, UHLS Youth Only MyCard, need to provide name, address, and date of birth.UHLS library cards expire and must be renewed every three years.Youth ages birth to 18 can register unaccompanied, or with the help of a caregiver or relative who is not the child’s parent/guardian.This card may be used at all UHLS Libraries except for the Colonie Town Library.

Card blocked at $10 or more in replacement costs.

No fines for late items
Limits on # of Materials Borrowed Unlimited checkouts Unlimited checkouts Limited total items: Can only have 3 items checked out on their card at a time
Types of Items All eligible item types. All eligible item types except Museum Passes, ILL, and Hot off the Press. Active paid members of the Friends of the East Greenbush Community Library have access to all lending collections. Only items eligible to be borrowed are books (any age level), juvenile and young adult (teen) audiobooks, and juvenile and young adult (teen) DVDs.
Databases/Digital Content EGRN and UHLS subscription databases and digital content UHLS subscription databases and digital content Only items eligible to be borrowed are books (any age level), juvenile and young adult (teen) audiobooks, and juvenile and young adult (teen) DVDs.
Interlibrary Loan Nationwide UHLS Libraries UHLS Libraries
Program Registration Unlimited except by limited program capacity Preference given to resident cardholders Preference given to resident cardholders