Mr. Ted Hess, Mr. Tom Stephan, Sr. Mary Jude Jochum, Dr. Charles Julian, Miss Sally Carroll.
Dottie Thomas, Director; Louis Horacek, Assistant Director, Robert Cupp and Steve Kellas, Wesbanco Trust Department; Michelle Blum, Intelligencer reporter.
The meeting was called to order by Mr. Hess at 7:00 PM
Dr. Julian moved that the minutes of the October meeting be approved. Mr. Stephan seconded the motion.
|Sr. Mary Jude||yes|
The financial report was presented.
Dr. Julian moved to approve the financial report and approve payment of invoices and warrants; Mr. Stephan seconded. The motion passed unanimously.
Ms. Thomas distributed a written Director's Report.
She reported that the library had received $40,000 in LSTA grants, $20,000 for Technology, to be shared among the libraries in Marshall, Ohio, Brooke and Hancock Counties, and $20,000 for children's services, to be shared among the libraries of Ohio, Marshall, Wetzel and Tyler Counties. She noted that Ohio County Public Library would be the fiscal agent for the children's services grant.
Ms. Thomas announced that Children's Librarian Jennifer Taylor had resigned as of November 17.
She said that five staff members, herself, Louis Horacek, Jennifer Taylor, Amy Kastigar, and Christina George, had attended the WVLA meeting Nov. 2-4, and that her term as president of WVLA would now begin.
Ms. Thomas said that the carpet had been professionally cleaned by Dream Clean. She said that she had samples of restroom flooring and stall material and invited Board members to view these and help in the selection process immediately after the meeting.
She said that the wooden exterior doors had been refinished, but appeared to need another coat of varnish. Mr. Hess said that if there were no objections the board would authorize Ms. Thomas to have more coats of varnish put on the doors.
Ms. Thomas explained in reply to Dr. Julian's question last month about the water and sanitation line item high expenditures that the unusual increase in expenditures included rental of a large dumpster to clean out junk from the basement.
Mr. Hess said that Helen Gaither would be among those honored at the Nov. 26 Wheeling Hall of Fame dinner, and that he hoped there would be a library representative there because she had been a major benefactor to the library. Mr. Hess said that he was unable to attend since he would be in Hinton. Ms. Thomas said she would be unable to attend due to health issues. Sr. Mary Jude and Miss Carroll said that they would be at the dinner representing other institutions but could also acknowledge the library.
Mr. Hess asked that old business be postponed so that the representatives of Wesbanco could report on the Endowment Trust.
Mr. Cupp said that the Trust had been established in Nov. 1976 at what was then Wheeling Dollar Bank. The Trust is currently worth just over $1,000,000.
He said the account is valued each quarter, calculating a rolling average of the previous 12 months' value, and the library is paid 7% of that average each quarter. Also a quarterly financial report is being issued to the client.
He said that the funds were invested for the best cash flow in the WesMark Growth Fund, and that $75,000 was set aside so that if the stock market dropped, the library would continue receiving about the same amount quarterly for two years.
Mr. Cupp said that the bank was distributing all of the income from the Trust plus some yields from capital appreciation.
The bank continually evaluates the investments of the WesMark Growth Fund, and changes them as necessary.
Bond market investments are made for cash flow. The bank does not actively trade to take advantage of price changes in the bond market.
There are no trustee fees on Westmark holdings, but there is one of .45% on the $75,000 that is kept in the money market.
Mr. Hess asked if the Board was interested in considering any changes in the administration of the Endowment Trust as propoed by Andy McKenzie of Prudential Securities last month There was no motion. Mr. Hess said that he would inform Mr. McKenzie that the Board was satisfied with the current arrangement.
Sr. Mary Jude asked about the Morrow Trust, a trust specifically establisehd to the creation and on-going maintenance of the Morrow Room. Mr. Hess said that it was at BankOne. Dr. Julian noted that it had not grown like the Endowment Trust.
Ms. Thomas said that the following capital improvements had been acted on:
1. Microfilm Machines buyout: $4,659.
2. New 3-M security gates would be installed at the end of November.
3. Refinishing of all wooden entry doors of the library.
4. Restroom stalls and restroom floors would be ordered as soon as a final decision was made about the colors.
Dr. Julian moved to approve the computer proposal presented at October's meeting. Sr. Mary Jude seconded the motion.
|Sr. Mary Jude||yes|
Mr. Stephan asked for an accounting of the current status of the capital funds.
Ms. Thomas noted that a large map of the original land holdings and land owners in Ohio County had been donated to the library. The framed map was hung on the wall directly across from the circulation desk. The map was the work of John Logan and Audra Wayne.
Ms. Thomas said that 11 people had signed up for dental and eye-care insurance, which would begin in December with premiums deducted from paychecks.
Ms. Thomas said that she had "accepted the president's gavel" as the incoming president of WVLA at the Third General Session at the West Virginia Library Association Annual Conference in Charleston. Her term begins officially December 1.
Dr. Julian said that at the West Virginia Library Commission meeting in November the creation of a West Virginia Center for the Book had been announced. At that meeting, the WVLC also had begun a process to formally evaluate the Executive Secretary of the Commission. He said that bylaws revisions had been presented to the Commission by David Price, Executive Secretary of the Commission.He said that the Library Basics training was finished.
Dr. Julian said that there should be some publicity about Ms. Thomas becoming president of WVLA.
Ms. Thomas said that the Friends money that had been held in the library's account had been transferred to the Friends of the Library.
Dr. Julian moved that the library once again give gift certificates for $25.00 to full-time staff and $15.00 to part-time staff. Sr. Mary Jude seconded the motion.
|Sr. Mary Jude||yes|
Dr. Julian moved that the Board go into executive session to discuss personnel at 8:35 P.M. Sr. Mary Jude seconded the motion, which passed unanimously.
The Board emerged from executive session at 8:55 P. M.
Dr. Julian moved to adjourn at 8:55 p.m.