MINUTES
FINANCE & INVESTMENTS COMMITTEE
ELISHA D. SMITH PUBLIC LIBRARY BOARD OF TRUSTEES
August 22, 2023
Called to order at 3:03pm by Chairman Lane
Present: Golz, Lane and Zimmerman
Also Present: Director Kopetsky and Dreyer (Business Manager)
Public Comment/Communication:
None
Approval of Minutes
Motion made by Zimmerman, seconded by Golz to approve the Finance & Investment Committee meeting minutes from August 30, 2022. Motion carried unanimously.
Discussion/Action Items
2023-2024 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 $3,439.34 into the technology line, $1,500 into teen programming, $1,500 into adult programming and keep the remaining $1,000 in the general fund for apparel for outreach staff and t-shirts for staff. Motion made by Zimmerman, seconded by Golz to transfer the endowment pool fund distribution from the general into the funds as listed above. Motion carried unanimously.
Motion made by Golz, seconded by Zimmerman 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 National Bank as follows as per the donor:
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 carried unanimously.
Library Operating Budget 2024
A draft of the 2024 budget and wage scale by Carlson Dettmann was reviewed. The city does not yet have the numbers for health insurance. The committee suggested a change to the material line item and dues/membership/licenses. Motion made by Zimmerman, seconded by Golz to approve the 2024 preliminary budget and wage scale with the suggested changes. Motion carried unanimously.
2024 Capital Improvements
Kopetsky is recommending that the library request $250,000 for final library design for the renovation project from the capital improvement budget. Motion made by Golz, seconded by Zimmerman to approve this request. Motion carried unanimously.
Adjournment
Meeting was adjourned at 3:55pm.
Respectfully submitted,
Kathy Dreyer, recording secretary
