MINUTES
FINANCE & INVESTMENTS COMMITTEE
ELISHA D. SMITH PUBLIC LIBRARY BOARD OF TRUSTEES
August 30, 2022
Called to order at 8:00am 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 13, 2021 with the following change – The 2022 Capital Improvements funding for HVAC should be valve and not value replacements. Motion carried unanimously.
Discussion/Action Items
Library Operating Budget 2023
A draft of the 2023 budget was reviewed. The committee suggested a change to the material line item. Motion made by Lane, seconded by Golz to approve the 2023 budget with the suggested change. Motion carried unanimously.
2023 Capital Improvements
The library will not be requesting any funding for capital improvements based on a potential future renovation. The committee would like to defer any funds into next year or beyond.
2022-2023 Library Endowment Budget
The library received the annual distribution from the Endowment Pool Fund which was temporarily put into the general fund. Kopetsky would like to transfer this into the technology line. Motion made by Golz, seconded by Franzoi to transfer the endowment pool fund distribution from the general fund into the technology line. Motion carried unanimously.
Adjournment
Meeting was adjourned at 9:00am.
Respectfully submitted,
Kathy Dreyer, recording secretary
