Phillipsburg makes offer for cash-strapped library to keep $160K Updated May 07, 1:55 PM; Posted May 07, 1:55 PM The Phillipsburg Free Public Library is pictured in this file photo.Express-Times File Photo Facebook Share Two days after the Phillipsburg Town Council told the town’s library to fork over $160,000 amid a funding crunch, Mayor Todd Tersigni told library officials they can keep the money. Calling the offer compassionate and sincere to help cover operating expenses and the salaries of employees facing furlough, Tersigni made the offer during Thursday night’s meeting of the Phillipsburg Free Public Library Board of Trustees. On Tuesday, the town council passed a resolution demanding the payment, citing a state statute that the library can retain its annual operating expenses plus 20%, with amounts over that returned to the town.