Mr. Ted Hess, Sr. Mary Jude Jochum, Dr. Charles Julian, Miss Sally Carroll.
Mr. Tom Stephan,
Dottie Thomas, Director; Louis Horacek, Assistant Director
Call to order:
The meeting was called to order by Mr. Hess at 7:00 PM
Dr. Julian moved that the minutes of the November meeting be approved. Miss Carroll seconded the motion.
|Sr. Mary Jude||yes|
The financial report was presented.
INVOICES AND WARRANTS
Sr. Mary Jude moved to approve the financial report and approve payment of invoices and warrants; Dr. Julian seconded. The motion passed unanimously.
Ms. Thomas distributed a written Director's Report.
Ms. Thomas noted that Legislative Day will be around March 9, but final arrangements were not complete.
Capital Improvements and Athena Upgrade
Ms. Thomas said that all of the previously approved capital improvements had been acted upon except for the computer upgrades. She said that making the additional purchases would reduce the balance in the capital account to $56, 687.49. She said that the practice has been to keep at least one month's expenditures in the capital account, and expenditures have been $80,000 to $85,000 a month. She noted however that the Operating Money Market Savings Account had a balance of $341,022.15, with an additional $478,466.30 expected by the end of the fiscal year. With approximate remaining budgeted annual expenditures of $521,713.00 (including Transfer to Capital), the library should end the fiscal year with a balance of $319,217.95 in the Operating Money Market Savings Account. Therefore she proposed that the Board approve transferring half the proposed Tranfer to Capital amount, or $21,442.50 to the Capital Account from the Operating Money Market account to allow the completion of the capital improvements without depleting the Capital Account.
Dr. Julian moved to transfer $21,442.50 from the Operating Money Market Account to the Capital Account. Sr. Mary Jude seconded the motion.
|Sr. Mary Jude||yes|
Ms. Thomas said that the Staff Christmas luncheon would be on December 19, and that Board Members were invited.
Mr. Hess reported that the library had been named in another estate, that of Virginia Alice Fleming, who died Oct. 20, 2000. Details were not available.
Mr. Hess said that he had advised Andy McKenzie that the Board was not interested in changing the management of the Endowment Trust at the present time.
Dr. Julian moved to adjourn at 7:35 PM.