HANCOCK LIBRARY
BOARD OF TRUSTEES
March 27, 2013
Present: Laurie Bryan, Amy
Markus, Peter Ryner, Erik Spitzbarth, Michael Wrenn
The principle focus of the
meeting was an investment portfolio review presentation given by Michael Wrenn
of U.S. Trust. A copy of his
presentation is on file with Amy Markus.
After hearing Mr. Wrenn's presentation, the Board requested that he
provide the Board with recommendations for rebalancing the Library's investment
portfolio, which he agreed to do.
The Board then discussed how much
cash would be needed in 2013, in consideration of investing some of the present
cash holdings in the portfolio. It was
agreed that Board members and Amy would investigate the costs of various
anticipated expenditures, including a new furnace, new carpeting, the
replacement of the free-standing sign, repair of foundation insulation and the
construction of a safer pathway between the parking lot and the existing path.
The February 27, 2013 minutes
were approved.
The treasurer's report was approved.
Amy reported that she has
determined that outright purchase rather than leasing would be the best
approach for obtaining a new copier. The
Board concurred and thanked her for her research.
Amy reviewed the library programs
scheduled for April and indicated that demand for use of the library for
various activities was very high and that at some point she may have to start
turning down requests.
The meeting ended at 2pm
submitted by Peter Ryner
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