|Library Board Meeting Minutes|
Meetings are held on the fourth Wednesday of each month, except for November and December, which will be on the third Wednesday due to the holidays. The meetings are held in the library meeting room. The 2016 budget hearing and adoption will be scheduled at a later date.
Meeting minutes are published following board approval.
January 28, 2015 - 2:30 PM
MINUTES OF THE MEETING
1. CALL TO ORDER: The Michigan City Public Library Board of Trustees’ meeting was called to order by Don Montgomery, President, on Wednesday, January 28, 2015, at 2:30 PM. This regularly scheduled meeting was held in accordance with the Indiana Open Door Law.
2. OATH OF OFFICE: Kurt Earnst, the Library’s legal counsel, presided over the Oath of Office taken by Dr. Ken Rottman; reappointed by the Michigan City Area School Board, and Don Montgomery; reappointed by the LaPorte County Council. They were welcomed back.
3. ADJOURNMENT: Motion was made by Patrick Dougherty and seconded by Judy Lange to adjourn this portion of the meeting in order to hold a Board of Finance meeting. All yea. No nay. Motion carried. This portion of the meeting adjourned at 2:35 PM.
1. CALL TO ORDER: The Board of Finance meeting was called to order by Don Montgomery at 2:35 PM.
2. ELECT PRESIDENT AND SECRETARY: Dr. Ken Rottman nominated Don Montgomery as President and Pat Dougherty as Secretary. There were no other nominations. Motion was made by Dr. Ken Rottman and seconded by Judy Lange to accept the nominations for the Board of Finance as presented. All yea. No nay. Motion carried.
3. REPORT ON 2014 INVESTMENTS: Ed Claussen reported on all the Library’s monies and fund accounts. The net balance in our checking account at Horizon Bank is $2,259,340.10. The Library’s second depository account at Fifth Third Bank totals $30,375.23. The Library’s total Endowment Investments held at Horizon Bank are $1,044,610.58, market value. The Library’s total IMA Investments also held at Horizon Bank are $504,293.29, market value. The total on deposit at December 31, 2014, is $3,838,619.20. The Library receives 67% of the interest earned from the Endowment Investment account and the remaining percentage is reinvested. The Library receives 100% of the interest from the IMA account.
The Library’s Unity Fund has a total of $131,000.
The Library holds a petty cash fund for emergency purchases and employee reimbursements. This fund totals $300.
4. SET INVESTMENT POLICY: The policy states where our money is held, where our money is invested, and receipts are deposited the same day they are collected. It also states that financial reports are received every month from the designated depositories holding our investment accounts and these reports are reconciled monthly to the Library’s records. This also includes the Library’s credit card account. Motion was made by Dr. Ken Rottman and seconded by Judy Lange to continue with the current investment policy. All yea. No nay. Motion carried.
5. DESIGNATE DEPOSITORIES: It is recommended that we retain our current depositories. Motion was made by Pat Dougherty and seconded by Judy Lange to remain with Horizon and Fifth Third Banks as our depositories. All yea. No nay. Motion carried.
6. BOARD OF FINANCE ADJOURNMENT: Motion was made by Dr. Ken Rottman and seconded by Sam Melnick to adjourn this Board of Finance meeting. All yea. No nay. Motion carried. Board of Finance meeting adjourned at 2:45 PM.
I. CALL TO ORDER: The Michigan City Public Library Board of Trustees’ meeting was called to order again by Don Montgomery, President, at 2:45 PM.
II. PUBLIC COMMENTS: No comments.
III. MINUTES: Motion was made by Dr. Ken Rottman and seconded by Judy Lange to approve the Minutes of the regular Board meeting of December 17, 2014, as presented. All yea. No nay. Motion carried.
IV. FINANCIAL REPORTS:
V. CORRESPONDENCE: Sam Melnick reported that Debbie Hyndman donated $50 to the Library’s Endowment Honoree Program to honor her friend Mary Brockway. Dorothy and Gladys Meriweather donated $40 to the Library’s Endowment Fund. Mary T. Schmich donated $291.20 to the Library’s Endowment Fund through the Unity Foundation of LaPorte County. (Ms. Schmich reimbursed the Library for the expenses for her program here.) Mr. Melnick thanked those who donated on behalf of the Board. These donations are very helpful.
VI. OLD BUSINESS: No report.
VII. DIRECTOR’S REPORT: This was submitted in the packet and will be filed with these Minutes. Mr. Glossinger wants to add an explanation to those who do not realize about our rainy day fund. This is money that has been put away for many years and represents a catching up because the Library has been doing without for a long time. The windows need repair as they leak, the equipment has been patched instead of replaced, etc.: “We’ve been “belt tightening.” A lot of things have been let go; we did not get ebooks for one. We are now already beginning to rectify this: we bought 3 new computers for Youth Services, a new copier for the office that will do heavy volume, we are preparing for ebooks and we are working towards repairing the windows. Don Montgomery thanked Don Glossinger and administrative staff for such good budget management.
VIII. COMMITTEE REPORTS: The President to appoint new committee chairpersons and members. The President inquired if anyone wanted to change committees. There was no response. The committee chairpersons and members are to remain the same.
IX. NEW BUSINESS: No report.
X. PUBLIC COMMENTS: No comments.
XI. BOARD COMMENTS: Judy Lange thanked the staff for their thoughtfulness and contribution in memory of her mother.
XII. QUORUM DETERMINATION: Judy Lange and Sam Ferguson may not be able to make the next regular Board meeting on February 25, 2015, at 2:30 PM in the Library’s Meeting Room.
XIII. ADJOURNMENT: Motion was made by Pat Dougherty and seconded by Dr. Ken Rottman to adjourn this meeting. All yea. No nay. Motion carried. This meeting adjourned at 3:10 PM.