ELISHA D. SMITH PUBLIC LIBRARY BOARD OF TRUSTEES
SEPTEMBER 26, 2016
Called to order at 2:05pm by Golz
Present: Chair Golz, Halverson, and VanderHeyden
Also Present: Board President Englebert, Director Lenz, and K. Dreyer (Administrative Assistant)
Approval of Minutes
Motion made by VanderHeyden to approve the Investment Committee meeting minutes from August 26, 2015, seconded by Halverson. Motion carried.
Endowment Budget 2016-2017 / Endowments Investments
· We received the annual disbursement of $8,017.93 from the endowment pool at the Community Foundation for the Fox Valley Region which was put into the General Fund.
· Proposed disbursements from the Memorial fund at the Community Foundation into the Memorials/Honorariums/Donations line items to include:
o Disburse 10% ($412.99) from the Graves Fund for children’s materials,
o Disburse 5% ($355.89) from the Howe Fund for children’s materials,
o Disburse 5% ($547.36) from the Vollmer Fund for children’s materials,
o And disburse 5% ($623.17) from the Loescher Fund for craft books and programs.
· Proposed changes from the Friends checking account fund ($12,889.16) include:
o Moving $488.59 to the adult materials line in the checking account,
o Moving $1,976.59 to the children’s materials line in the checking account,
o Moving $623.98 for teen materials in the checking account,
o Moving $4,862.81 to the 1,000 Books before Kindergarten program line in the checking account,
o Moving $2,321.57 to children’s programming line in the checking account,
o And moving $2,615.62 for children’s summer reading programs in the checking account.
· Also proposed:
o Moving the $4,133.32 designated for building maintenance in the checking account to the Memorial fund’s miscellaneous line item at the Community Foundation.
o And moving $34,201.60 from the checking account’s general fund to the Memorial fund’s miscellaneous line item.
Motion made by Halverson, seconded by VanderHeyden to recommend the proposed changes to the Board of Trustees. Motion carried. If more monies are needed for a particular project, then a request can be brought to the Board to secure them from the Memorial fund.
Motion to adjourn the meeting at 3:00pm was made by VanderHeyden and seconded by Halverson. Motion carried unanimously.
Kathy Dreyer, recording secretary