OHIO COUNTY PUBLIC LIBRARY
BOARD OF TRUSTEES
MINUTES
May Board Meeting
May 8, 2006
Members Present:
Mr. Ted Hess, Sr. Mary Jude Jochum, Mr. Mike Baker, Mr. Charles Monfradi
Members Absent:
None
Also Present:
Dottie Thomas, Louis Horacek, Chris Karpinski, Bob Klug.
Call to order:
Mr. Hess called the meeting to order at 7:10 P.M
Minutes
Sr. Mary Jude moved that the minutes of the April meeting be approved as distributed. Mr. Monfradi seconded.
Vote:
| Mr. Hess | yes |
| Mr. Baker | yes |
| Sr. Mary Jude | yes |
| Mr. Monfradi | yes |
Financial Report:
The Financial Reports for April had been distributed with the board package.
INVOICES AND WARRANTS
Mr. Monfradi moved to approve the Financial Report and approve payment of invoices and warrants; Sr. Mary Jude seconded the motion.
Vote:
| Mr. Hess | yes |
| Mr. Baker | yes |
| Sr. Mary Jude | yes |
| Mr. Monfradi | yes |
DIRECTOR'S REPORT
Ms. Thomas reported that she had spent the past month primarily working on the budget and working with the Personnel Committee.
Ms. Thomas reported that she also attended a workshop held at The Carnegie Library of Pittsburgh and sponsored by OCLC. OCLC reported on the results of its national survey entitled "Perceptions of Libraries." She said that notable among the findings were that the public felt libraries were not good at customer service. She said OCPL is apparently an exception. The survey also emphasized the importance of the web presence of libraries. She said that OCPL would need to upgrade and expand its website in the near future.
Announcements
Ms. Thomas said that OCPL's two reference assistants would both be leaving the library in the summer, and one circulation clerk was retiring. She said that advertisements for the positions had appeared in Sunday's News-Register.
Mr. Hess noted that he sent a letter to Pete Radakovich of Northwood reminding him that he had said he would provide parking spaces for OCPL staff in the otherwise underutilized parking lot of their 16th Street facility. Ge said that he has not received a response.
Annual Report on JP Morgan Chase Trust Account
Bob Klug and Chris Karpinski reported on the performance of the library's trust account with JP Morgan Chase.
Mr. Klug said that the merger with JP Morgan Chase had strengthened the local bank's ability to provide investment banking services.
Mr. Karpinski said that the U.S. economy was strong, with limited danger of inflation. He does not expect a major change in the market, although a 5-10% drop in the next year is possible.
Mr. Klug noted that the account is presently 66% equities, which is the bank's recommendation for a growth fund. He said that equities in the account have outperformed the benchmarks. Also, the bank has increased investments in international equities which are doing better than American stocks.
He also said that the account is 100% in JP Morgan Chase mutual funds, but this is not a requirement, and that if it appeared that other products would serve the library best, they could invest in them.
Mr. Klug said that the estimated annual income from the funds over the next year would be approximately $10,000. He noted that there was also around $20,000 in accumulated income being kept in money market funds, which could be drawn upon without reducing the principal of the trust.
Tanis Travis came before the Board on the occasion of her impending retirement to thank them for their improvements to the library and to say that it had been a privilege to work at OCPL. She said that the library is fortunate to have excellent board members and a good director and assistant director. She also said that the library is much busier now that when she began working here in 1984.
OLD BUSINESS
Landscaping Plans
Ms. Thomas said that Andy Barger and William Hooker had come to the library, and Gabe Hays would come in later in the month. They would be providing quotes for the preparation of a landscaping plan for the library, and these quotes would be available at the next meeting.
2006-7 Budget
Mr. Baker reported on the work of the Personnel Subcommittee whose members include himself, Sr. Mary Jude and Ms. Thomas. Ms. Thomas distributed a written report of the committee's work and recommendations. Mr. Baker said the committee was recommending a total of $21,000 in salary adjustments, plus $10,000 in a contingency fund for other raises if necessary or possible part-time help. The committee also recommended a 4% across-the-board cost of living adjustment for the 2006-2007 fiscal year.
Ms. Thomas distributed a table comparing OCPL with peer libraries in the state. The table compared percentages of annual budgets devoted to personnel, library materials, building and maintenance, and "other expenses." It also compared number of personnel, number of FT and PT, as well as annual circulation and interlibrary loan statistics.
Ms. Thomas distributed a 2006-2007 projected revenue statement prepared by Bonnie Vavrock. Mr. Baker asked if the projected interest income from the Operating #2 and Capital accounts was accurate, as it was much more than last year. Ms. Thomas said that over $600,000 was kept in the account. Mr. Baker asked if a portion of it could be invested. Mr. Hess said there was no restriction on it. Mr. Hess suggested finding out exactly what it was earning currently, and also what it would cost to have a bank administer the funds as part of a trust account. Mr. Monfradi suggested asking if it could be kept as a sub-account in the JP Morgan Chase trust. Mr. Hess asked Ms. Thomas to send the information to the Board as soon as possible.
Mr. Monfradi asked what kind of pay-out from the Endowment Trust should be requested. Mr. Hess said that there seemed to be little difference between 5% and 7%, and it should be examined in the light of the total budget. He asked Ms. Thomas to have a proposed 2006-2007 budget prepared with the 6% distribution.
NEW BUSINESS
Request from Patron for Compensation for Damaged Tire
A library patron had damaged a tire on the remains of a concrete pier from the railroad on the edge of one of the parking spaces. He was requesting half of the cost of a new tire. Mr. Baker moved to pay him $50.00. Mr. Monfradi seconded the motion.
Vote:
| Mr. Hess | yes |
| Mr. Baker | yes |
| Sr. Mary Jude | yes |
| Mr. Monfradi | yes |
Selection of Firm for 2006 Audit
Ms. Thomas said that she and Ms. Vavrock had evaluated the three firms responding to the library's RFP for an annual audit. She said the major differences in the firm were in the following areas:
1. Knowledge of the library
2. Hours they would spend on the audit
3. Expertise of the staff performing the audit, level of expertise of supervisors and amount of time spent by a supervisor overseeing and checking the audit.
She said that Bodkin Wilson & Kozicki was at the top of the list, but also was charging significantly more.
Mr. Hess said that Bodkin had provided valuable written recommendations in previous audits, and the firm's audit staff come to board meetings. Ms. Thomas said they also remained available through the year for free consultations.
Sr. Mary Jude asked if they could be asked to rebid at a possible lower rate. Ms. Thomas said that was not possible because this is a WV State Tax Department bid procedure and the steps had to be followed as authorized and everything had to be returned to filed with the WV State Tax department.
Sr. Mary Jude moved that the library go with Bodkin Kozicki & Wilson, but after the audit is completed OCPL should send them a letter letting them know that they should consider coming down in price to continue to receive the library's business. Mr. Baker seconded.
Vote:
| Mr. Hess | yes |
| Mr. Baker | yes |
| Sr. Mary Jude | yes |
| Mr. Monfradi | yes |
Vacant Seat On Board
The Board discussed possible candidates to fill the seat vacated by the resignation of Sally Carroll, and agreed to continue discussion at the next meeting.
The meeting was adjourned at 9:10 PM.
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