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February 4, 2019

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 Monday, February 4, 2019, at 2:30 PM. This regularly scheduled meeting was held in accordance with the Indiana Open Door Law. (January’s meeting was cancelled due to inclement weather).

Those members in attendance:
Don Montgomery, President
Judy Lange, Secretary
Patrick Dougherty, Member
John Pugh, Member
Mike Wilkerson, Member

Those members absent:
Doug Wickstrom, Vice President
Barbara Holdcraft, Member

Others in attendance:
Don Glossinger, Director
Andrew Smith, Assistant Director
Kurt Earnst, Legal Counsel
Edward Claussen, Treasurer
Susan Blumenfeld, Rec. Secretary
Dave Fink, Lib. IV
Tamara Ansel, Accounting Clerk

2. Don Glossinger reported that Don Montgomery and Michael Wilkerson were both reappointed to this Board. Kurt Earnst said no Oath of Office was necessary as they had taken the Oath on their initial appointments.

3. This section adjourned.


1. BOARD OF FINANCE WAS CALLED TO ORDER

2. ELECT PRESIDENT AND SECRETARY: It was agreed by the Board members that Don Montgomery will preside as President and John Pugh will preside as Secretary of the Board of Finance. All yea. No nay. All agreed.

3. REPORT ON 2018 INVESTMENTS: Edward Claussen reported on the Library’s monies and fund accounts. The beginning balance of our general checking account at Horizon Bank was $2,924,012.30 plus our credit card account of $1,749.41 less outstanding warrants of $4,011.69 brings a net balance of $2,921,750.02.

The Library’s second depository account is the Fifth Third Bank and totals $35,054.36.

The Library’s total endowment investments at Horizon Trust is $1,257,081.58. The MCPL Investment Management Account (Mkt Value) at Horizon Trust totals $493,954.42. Total monies on deposit at December 31, 2018, is $4,707,840.38.

4. SET INVESTMENT POLICY: The Library’s Investment Policy has not changed except for the Petty Cash fund. This was increased from $300 to $400. This is to accommodate Circulation and Reference Departments in making change as Fifth Third Bank moved.

The Library receives 67% of the interest earned from the Endowment Investment account. This money is deposited quarterly into an Endowment Earnings Fund, which is expended according to a budget set every year.

Motion was made by Don Montgomery and seconded by John Pugh to continue with the current investment policy. All yea. No nay. Motion carried.

5. DESIGNATE DEPOSITORIES: Administration recommends that we retain our current depositories. Motion was made by Don Montgomery and seconded by John Pugh to retain our existing deposit accounts: Horizon and Fifth/Third. All yea. No nay. Motion carried.

6. BOARD OF FINANCE ADJOURNMENT: Motion was made by Don Montgomery and seconded by John Pugh to adjourn this Board of Finance meeting. All yea. No nay. Motion carried. Board of Finance meeting adjourned at 2:40 PM.


I. RESUME MCPL REGULAR BOARD MEETING

II. PUBLIC COMMENTS: No comments.

III. MINUTES: Motion was made by Judy Lange and seconded by John Pugh to approve the regular Board Meeting Minutes of December 19, 2018, as presented. All yea. No nay. Motion carried.

IV. FINANCIAL REPORTS:

A. Financial Reports: The Statement of Receipts and Disbursements for the month ended December 31, 2018, shows an operating fund balance of $237,118.16 and a total funds balance of $4,707,840.38. The operating fund receipts for December were $1,201,535.94 and the disbursements were $1,307,377.10.

On December 20, 2018, the Michigan City Public Library received from LaPorte County Auditor the December Settlement for 2018. Total receipts were $1,192,341.72 and were broken out as follows: Property Tax – $1,075,512.09, License Excise Tax – $73,286.67, Financial Institution Tax – $4,714.96, CVET – $6,712.00 and LIT – $32,116.00.

In the month of December 2018, the Library Operating Fund paid back borrowings of $1,100,000.00 to the Rainy Day Fund.

On January 2, 2019, the Library Endowment Earnings Fund received fourth quarter 2018 dividends and interest of $6,351.63. Endowment Investment Fund Contributed $3,947.67 and IMA Fund contributed $2,403.96.

2019 Money owed to the Library Rainy Day Fund is $1,100,000.

B. Approval of Bills: The revised list of warrants is increased by $19,919.43. Motion was made by Judy Lange and seconded by John Pugh to approve the revised list of warrants of February 4, 2018, in the amount of $154,019.20. All yea. No nay. Motion carried. These checks will be dated January 30 and posted in the month of January.

C. Cancellation of Outstanding Warrants: Pursuant to IC 5-11-10.5, the following checks have been outstanding for more than two years and therefore shall be voided and amounts returned to the fund upon which they were originally drawn.

Check Vendor Amount Fund
43339 Hunnicutt, Cullen $ 7.00 Operating
43340 IBE Back to School $40.00 Operating
43640 Sutliff, Serena $35.00 Endowment Earnings

Motion was made by Pat Dougherty and seconded by Judy Lange to approve of the cancellation of outstanding warrants as presented. All yea. No nay. Motion carried.

D. Other: Edward Claussen reported that we have to adjust our 2018 encumbrances from $227,170.95 to $229,447.21. This adjustment includes Think Tank with an increase of $3,424.27 and Kramer & Leonard with a decrease of $1,148.01. Motion was made by Judy Lange and seconded by John Pugh to approve of the adjustment to the 2018 encumbrances in the amount of $2,276.26. All yea. No nay. Motion carried.

V. CORRESPONDENCE: No report.

VI. OLD BUSINESS: No report.

VII. DIRECTOR’S REPORT: Submitted in the packet and will be filed with these Minutes.

VIII. COMMITTEE REPORTS: Don Montgomery, President, appointed the Committee Chairs and Members. They will stay the same as last year.

Building and Grounds:
Doug Wickstrom, Chair
Mike Wilkerson, John Pugh, Members
Barb Holdcraft, Alternate Member

Budget and Finance:
Mike Wilkerson, Chair
Barb Holdcraft, Patrick Dougherty, Members
John Pugh, Alternate Member

Policy and Procedures:
John Pugh, Chair
Doug Wickstrom, Judy Lange, Members
Mike Wilkerson, Alternate Member

Personnel Committee:
Judy Lange, Chair
Barb Holdcraft, Patrick Dougherty, Members
Doug Wickstrom, Alternate Member

Liaison to Friends of the Library: Judy Lange

A. Building and Grounds Committee Update: No report.

B. Budget and Finance Committee Update: No report.

C. Friends of the Michigan City Public Library Update: Judy Lange reported on their 2019 fund raising events: February 19 – a giveback at Holly’s; April 27 is the annual Collectors Corner Breakfast. Tickets are $25 and will be available in March. On May 2 there is another giveback, this time at Galveston’s.

D. Policy and Procedures Committee Update: Don Glossinger reported that a meeting is needed to update the Library’s Five Year Long Range Plan. This meeting will be held before the regular Board Meeting on February 27, at 2:00 PM.

E. Personnel Committee Update: No report.

IX NEW BUSINESS: No report.

X. PUBLIC COMMENTS: No comments.

XI. BOARD COMMENTS: John Pugh expressed appreciation that Edward Claussen does an excellent job with the Library’s finances.

XII. QUORUM DETERMINATION: The next regular Board meeting is Wednesday, February 27, 2019, at 2:30 PM in the Meeting Room. Any member unable to attend will inform the Library’s Administration Office.

XIII. ADJOURNMENT: Motion was made by Judy Lange and seconded by John Pugh to adjourn this meeting. All yea. No nay. Motion carried. This meeting adjourned at 2:50 PM.

The minutes of the meeting will be published following board approval.

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