MINUTES
FINANCE & INVESTMENTS COMMITTEE
ELISHA D. SMITH PUBLIC LIBRARY BOARD OF TRUSTEES
September 13, 2021
Called to order at 4:16pm by Chairman Lane
Present: Franzoi, Golz, Lane and VanderHeyden
Also Present: Director Kopetsky and Dreyer (Business Manager)
Public Comment/Communication:
None
Approval of Minutes
Motion made by VanderHeyden, seconded by Franzoi to approve the Finance & Investment Committee meeting minutes from September 22, 2020. Motion carried.
Discussion/Action Items
- Library Operating Budget 2022
A draft of the 2022 budget was reviewed. The committee suggested changes to the engineering, management and material line items. Motion made by Franzoi, seconded by Golz to approve the 2022 budget with the suggested changes. Motion carried unanimously.
- 2022 Capital Improvements
The 2022 capital improvement budget includes funding for the HVAC value replacements, shelving units and meeting room tables/chairs. Motion made by Franzoi, seconded by Golz to approve the capital improvements for 2022 as presented. Motion carried unanimously.
- The library received the annual distribution from the Endowment Pool Fund which was temporarily put into the general fund. Kopetsky would like to create a technology line and put these funds into that line item. Kopetsky would also like to request to transfer funds from the Memorial Fund held at the Community Foundation for the Fox Valley Region, Inc. to the checking account held at Nicolet Bank as follows:
10% from the Graves Fund for children’s materials
5% from the Howe Fund for children’s materials
5% from the Vollmer Fund for children’s materials
5% from the Loescher Fund for craft books and programs
Motion made by Franzoi, seconded by Golz to approve the addition of the technology line, and transfer the endowment pool fund distribution from the general fund into that line item. Also transfer of funds from the Memorial Fund to the checking account held at Nicolet National Bank as described above. Motion carried unanimously.
Adjournment
Meeting was adjourned at 5:07pm.
Respectfully submitted,
Kathy Dreyer, recording secretary
