Trustee Minutes - September 2009

Hancock Library Trustees Meeting
Minutes September 16, 2009
Present
Laurie Bryan, Mary Garland, Amy Markus, Roberta LaPlante, Peter Ryner

Secretary’s Report: The minutes of July 29, 2009 were approved.

Treasurer’s Report: Mary Garland distributed a monthly bank statement which was reviewed and approved. Amy provided an update of the Library’s budget which in most respects is on target. Amy explained that there had been an unanticipated need to prebuy a whole season worth of heating oil out of this year’s budget, which will have an impact on the budget for the remainder of the year. However, the prebuy program provides stability in pricing. The Board approved.

Director’s Report: Amy reviewed Library programs coming up during the next month. She reminded the Board that the annual Friends of the Library meeting would be on October 27 at 7:00 pm. There will also be an appreciation luncheon for Library volunteers at the Harris Center on October 9th.
Amy has received a proposal from Earl Horn to undertake an analysis of the Library’s structure and grounds and to provide a written report of his findings and recommendations, for a sum of $450. This is part of the Board’s initiative to have a sound basis for short and long term maintenance and capital improvements. Peter agreed to attend the inspection as a member of the Board, and the Board voted unanimously to have Amy enter into a contract with Mr. Horn for a sum not to exceed $450.
Amy then reported that she has established a three-person advisory committee to assist in formulating a celebration in 2010 of the Hancock Library’s 150th anniversary.
Walter Clarke Fund: Amy reported that the Library has received a donation of $34,021 from the estate of Walter Clarke. The donation stipulates that these funds and any interest earned are to be used exclusively for future library capital improvements. It is furthermore stipulated that the funds must be invested in stocks. The Board had a general discussion as to what “stocks” meant, and whether, for example, all or a portion of the funds could be invested in mutual funds that purchased stock, such as a stock market index fund. The question arose as to whether the Board could pull these funds out of stocks and keep them temporarily in cash if the market were to suffer the kind of problems seen in 2008. It was agreed that this issue should be discussed with a representative of BankAmerica, which is where the funds will be deposited. Amy was asked to see if she could arrange such a meeting as part of the Board’s October 21 meeting.
Amy expressed concern about flooring in portions of the library, especially in the two bathrooms and in the two entranceways. After some discussion, the Board encouraged Amy to obtain firm estimates, with the thought that the necessary funds for these expenditures would come from Library capital improvement funds. She will also seek assistance from the Friends of the Library.