Trustee Resources Audits

MHLS strongly advises that all libraries have an independent review or audit done annually. The benefits of having an independent audit or review include:

• Protects board members from liability
• Indicates areas for improvement
• Insures the library can face scrutiny by the public

For those libraries with annual receipts over $250,000 who are also registered as a charitable organization under NYS Executive Law Article 7A, you are required to have an independent audit. (For annual gross receipts between $100,000 and $250,000 a review is required.) For more information see the NYS Office of the Attorney General's Laws and Regulations Governing Registration, Financial Reporting and Fund Raising by Not-for-Profit Organizations.

Libraries should change audit firms every five years.

Area CPAs:
Kimball & O'Brien PC Certified Public Accountants
Patricia F. Addis, CPA
465 Washington Ave.
Kingston, NY 12401
*used by the Woodstock Public Library District and the Kingston Library

Paul Mula, CPA
286 Clinton Ave.
Kingston, NY 12401

Hummel and Butler
562 Commerce St.
Thornwood, NY
*recommended by the Reed Memorial Library (Carmel)

Timothy P. Hoolihan, CPA
Van Norstrand & Hoolihan CPAs P.C.
187 East Market Street #202
Rhinebeck, NY 12572-1727
845.876.5200
*recommended by the Pawling Free Library

To search for a CPA in your area go to the New York State Society of Certified Public Accountants (NYSSCPA) search page (you can seach by county).

It is recommended that you obtain several quotes as prices can vary drasticallly.

last updated: 3.31.05

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