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HomeMy WebLinkAbout2014-11-14-BOLT-min CARY MEMORIAL LIBRARY EXECUTIVE COMMITTEE MEETING BOARD OF LIBRARY TRUSTEES Wednesday, November 12, 2014 Attendees: Norman Cohen, Margaret Coppe, Howard Jaffe, Joe Pato Trustees; Koren Stembridge, Library Director, Jeanne Krieger, Kat MacDonald, Foundation. Call to Order: Chairman Norm Cohen called the meeting to order at 4:00 PM Secretary’s Minutes Vote: Joe Pato made a motion to approve the Minutes of the October 1, 2014 meeting. Margaret seconded the motion. The motion passed unanimously. Koren asked Norman permission to take the Foundation agenda items out of order. Kat MacDonald presented a three year comparison of donors. The Foundation is experiencing that there are fewer donors but that they are more loyal. The Foundation has more contributors of $250 or more. The trend seems to be shifting to people giving more money to fewer organizations. Jeanne added that the Foundation tried something new today in honor of Philanthropy Day, soliciting through Cary News for the first time. The goal is to ultimately expand the donor base even if those donors are contributing at lower levels but over time, the gifts will increase. Koren said that starting in December, Cary News will have a donate bar on the side linking to the Foundation. We will also provide information of the many ways the Foundation supports the library; materials, programming and infrastructure. Jeanne added that Crowd Funding is good way to reach people who we never hit. The next idea is the Seed Catalog. Trustees discussed various ways donors can reach the Foundation. Endowment Koren reported that we have been tangling with the Endowment spreadsheets to determine a present day value. They have not been updated since 2007. Koren detailed the Endowment Funds explaining the process used. Overall the Trustees felt that the methodology presented did not account for factors such as when the deposits were made and the increase in value from year to year. Howard feels that we should not spend a lot of money in figuring the value but that we do need to conduct a little more forensic accounting. Joe express that it is not hard to prorate the funds and that we need to allocate more weight to the newly established funds since much of the gain has been over the past two years. He also asked about the procedure for how and when deposits are made. After discussion, Trustees reached a consensus to ask Susan Mac Leish if she would be willing to take a look at the funds and help determine the present day value. Koren will work with Kat on contacting Susan and will report back at the December meeting. Financial Update Koren reported that we are 34% expended at the end of October on the Municipal side. The library staff has not yet settled the FY 15 contract. On the Trustees side we received $12,500 from the Friends. We will receive the second installment at the end of the month. The Trustee income continues to be low due to the change in the fine and fee structure. Administrative Staffing Update We continue to work with the union to resolves proposed staffing changes. Meagan Coffey our new full time Library Technician, will be starting on Friday. New Business Building Reconfiguration Project Koren outlined the building reconfiguration proposal from architect Colin Smith. The proposal is for $16,875 which includes three versions of the move as well as meetings with staff. The cost does not include any engineering or construction costs. Koren is asking for the Trustees to approve $20,000 to cover any overages. Howard made a motion to approve $20,000 to cover Colin Smith architect fees for building reconfiguration. Joe seconded the motion. The motion passed unanimously. New Business Koren related the request from the Foundation to close the library at 3:30 PM on Saturday, April 11, 2015 for the Cooks and Books Event. Joe made a motion to approve the request from the Foundation to close the library at 3:30 PM on Saturday, April 11, 2015. Howard seconded the motion. The motion passed unanimously. Historic District Appointment Norman explained to the Trustees that the library board needs to submit two candidate names to the Historic District Commission by the end of the year. After a discussion, the Trustees reached a consensus to delegate Norman to contact potential candidates. Koren let Trustees know the library received a corporate sponsor for the LEF Trivia Bee which happens to tonight. Three staff members are participating. Adjournment A motion was made by Joe Pato to adjourn the meeting, seconded by Margaret Coppe. The motion passed unanimously. Respectfully submitted, Andrea Morrison