Board of Trustees Meeting March 4, 2020

Gay-Kimball Library
Board of Trustees Meeting March 4, 2020

Members Present: Peg Rouleau, Kristan Tilton, Rebecca Hackler and Library Director Catherine Callegari
Public/Trustees of the Trust Funds: Norm Dion, Rich Thackston, Ben Drugg and Ed Oaks- presenter
Peg called the meeting to order at 4:36 pm
Peg motioned to accept the February 5, 2020 meeting minutes as written, seconded by Kristan Vote: all in favor

Presentation-
The Trustees of the Trust Funds attended the Library Trustees meeting to provide an overview and history of the investment growth of the library trust fund. Ed Oaks shared the discipline and data used to grow the principal from 2006 to present day. Ed reviewed the distribution allocations and the concept of the 4% target. Their approach of allowing the principal to grow has resulted in a significant improvement in the annual distribution to the library. This year’s annual distribution is 11,899 to be used in conjunction with the operating budget. The Library Trust Fund is valued at 297,492

Treasurers Report- Total Library accounts $15,326
Checking: $ 11,412 Memorial Fund: $ 653 ( Austin $ 3071 )
Fines: $ 76 Petty Cash: $114

Librarian Statistics-
Door count: 811 Meeting Room Usage: 10 Overdues: 13 items
Circulation 1,479 Computer usage: 66 Program & Outreach attendance: 165 (Adults: 23 Children: 142)

Highlights- Activities/ Events
• Programming donation: White Mountain Puzzles for the puzzle contest 3/14 through 3/21
• Scholarship from NHLTA for 305.00 covered the PLA conference
• Dr. Seuss week at TES- Birthday readings to all grades
• Lunch at the Library and Family Fun Day on Saturday, 4/4

Old Business
• Operating Budget, Library budget, Trust funds – all on target for expenses
• Expendable Trust- 4,000 was recommended by the budget committee to be allocated to the library fund
• Building Maintenance- water fountain on schedule for replacement
• Fine free – posters and communications have been distributed

New Business
• Spring Trustee Conference- in May www.NHLTA.org for more information
• PLA report – vendors provided a large selection of items
• Library leadership- succession planning

Meeting adjourned 5:59 pm

Next meeting Wednesday April 1, 2020 at 4:30 pm
Rebecca Hackler-Secretary, Trustee