My own philosophy in cases such as this is to hyphenate only when there's a possibility of misreading -- unless it all gets too ugly, in which case I'd rephrase the sentence. So, I would hyphenate "public-library staff meeting" because otherwise it could (or would) mean a public meeting for library staff. Likewise, "annual-conference preparation committee" because it is (presumably) a committee organising an annual conference, not a conference preparation committee that meets annually.
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CalifJimAlways consult a dictionary to find out if a compound is hyphenated or written as one word or written as multiple words.If it is a not listed there, it probably should not take a hyphen. This would be the case for the majority of multiple component compounds. They are written without hyphens.
CalifJim I doubt there is one single solution that all editors agree upon when it comes to hyphens.I agree. I suspect that many style guides that address this issue will say something like the Texas Law Review Manual of Style (which I randomly found quoted via Google) does: "When two or more [normally unhyphenated] words are combined to form a modifier