martha canfield library

PO Box 267 • 528 East Arlington Road, Arlington, VT • 05250
802.375.6153 • martha_canfield_lib@hotmail.com

  • Tuesday — 9:00AM – 8:00PM
  • Wednesday — 9:00AM – 5:00PM
  • Thursday — 9:00AM – 8:00PM
  • Friday — 2:00PM – 6:00PM
  • Saturday — 10:00AM – 3:00PM

Russell Collection

Open 9:00AM – 5:00PM
Tuesdays or by appointment

MARTHA CANFIELD MEMORIAL LIBRARY
MINUTES OF THE BOARD OF TRUSTEES MEETING
December 3, 2018

**Minutes are considered to be in DRAFT form until approved at the next scheduled meeting**

The Board meeting was called to order at 7:15 PM

Board Members In attendance: Brian Allen, Sally Ayrey, Bob Dudley, Sheila Kearns, John Spencer, Laura Crosslin, Carol Farley
Staff: Phyllis Skidmore (Librarian), Bill Budde (Russell Collection)
Guests: None
Board Members Absent: Dave Van De Water, Katie McCartney, Cathy Taylor, Carrie Gutbier

Additions to the agenda– 1. None

Minutes

   • Previous meeting’s minutes – Bob moved that the November minutes be approved as revised. Carol seconded. The motion was unanimously approved.

Treasurer’s Report (summary):

   • Town allotments and annual fund schedules were reflected in the report
   • Some changes have been made to the financial reports as a result of the meeting with the accountant. We had been using quarterly reports but were told to use monthly reports for interest and dividends to allocate dollars correctly. The management fees are now more transparent. Krause is charging approximately 0.5% of the investment annually for management fees.
   • Restricted funds – the restricted funds were researched by Sally. In general, the deeds of gift for book funds do not specify that the principal investment be maintained. Since we always spend more on books than we have in the “book funds” we do not need to keep specific expenditure details per gift fund. The same situation for the Russell fund exists. We spend more to support the Russell Collection than the fund generates in interest.
   • The Bentley bequest is the only one that has a stipulation that the original bequest (principal) not be spent (approximately $100,000).
   • Sally received a donation from Townscape. Two checks for approximately $5,800. They are also likely going to ask us to hold some money in escrow.
   • In the past, employees have been given a 2% raise. The cost of living adjustment this year is 2.8%. Sally put in a 3% raise in the budget.
   • Brian moved that we approve the 3% salary raise in the budget. Bob seconded. The motion was unanimously approved.

Librarian’s Report (summary):
   • The basket raffle is out – drawing is December 18th
   • The library has a table at the indoor “farmer’s market” at the Federated Church. We’ve sold some book sale books, raffle tickets, and given away some children’s books. • We have received a check of $1,400 from Berkshire Bank to support children’s programming.
   • Phyllis will be working on the annual report to the State in December.

Buildings & Grounds
   • January will be Carrie’s last meeting. Her term is up in February. Carol agreed to become the Adult Programming

Gallery
   • Sheila will forward a report from Dave

Russell Collection Report
   • A report was handed out. Bill is looking for ideas for marketing some indexes that Dave Thomas put together to generate income based on deed indexes for Arlington, Sunderland, and Sandgate. He created expanded indexes from what is easily available so there should be some value to some people or companies.
   • The schedule of fees and use permission for were passed along for information. These fees and releases have been informal in the past. It was based on similar schedules from similar organizations. The Russell Collection fess are generally “middle of the road”.

Finance Committee Report
   • Meeting scheduled for Thursday, December 20, at 4PM. Board members are welcome. Dave Van De Water may be interested in attending.

Old Business:
   1. Annual fund letters have gone out. Thank you letters will be dated around or near the date of the deposit. The last deposit of the year will be December 28, 2018. Brian asked about a check dated 12/31/18. We will stick with the date of the deposit.
   2. Town assessments – we have received Arlington, Sunderland, and Sandgate. Shaftsbury should be coming this month. Sheila ran some numbers to see what it would take to get equalized per capita.

New Business:
   1. Volunteer recognition – we need to plan this event. Historically, it has been in November. We will postpone past the holidays. Need time to send out invitations. Phyllis and Sheila will work out a date. We may be waiting until after winter since travel can be unpredictable during the winter months. It would be good to honor Dave Thomas at this event.

Next meeting – Monday, January 7th 2019 at 7PM
Meeting adjourned at 8:11 PM.

New Books

for all ages

clean-up

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