The regular board meetings of the Michigan City Public Library Board of Trustees are held on the 4th Wednesday of each month, except for November and December’s meetings (which are held on the 3rd Wednesday). The meetings are held at 2:30 PM in the Library Meeting Room.
These dates do not include meetings for the budget hearing and adoption, which are to be scheduled at a later date.
January 27, 2021
MINUTES OF THE MEETING
1. CALL TO ORDER: The Michigan City Public Library Board of Trustees’ meeting was called to order by Doug Wickstrom, President, on Wednesday, January 27, 2021, at 2:30 PM. This regularly scheduled meeting was held in accordance with the Indiana Open Door Law.
Those members in attendance:
Doug Wickstrom, President
John Pugh, Vice President
Mike Wilkerson, Secretary
Don Montgomery, Member
Mark Jacobi, Member
Dale Cooper, Member
Those members absent:
Patrick Dougherty, Member
Others in attendance:
Don Glossinger, Director
Andrew Smith, Assist. Director
Kurt Earnst and Assistant, Legal
Edward Claussen, Treasurer
Robin Kohn, Public Relations
Tamara Ansel, Assist. Controller
2. OATH OF OFFICE: Mr. Kurt Earnst, our Legal Counsel, presided over the Oath of Office taken by Dr. Mark Jacobi, appointed by the Board of Commissioners. Dr. Jacobi was welcomed by the Library Board. Ms. Dale Cooper will be sworn in at the February meeting.
3. ADJOURNMENT: Motion was made by John Pugh and seconded by Mike Wilkerson to adjourn this portion of the meeting in order to hold a Board of Finance meeting. All yea. No nay. Motion carried.
1. CALL TO ORDER: The Board of Finance meeting was called to order by Doug Wickstrom, President, at 2:33 PM.
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 for the Board of Finance. All yea. No nay. All agreed.
3. REPORT ON 2020 INVESTMENTS: Edward Claussen reported on the Library’s monies and fund accounts. The total monies on deposit at December 31, 2020, is $4,699,767.15. The Library’s General Checking Account and the Credit Card Account at Horizon Bank has a balance of $2,783,932.12. Fifth Third Bank, our 2nd depository account, has a balance of $35,068.39. Horizon Trust, where our Endowment Investments are held, has a total on deposit of $1,375,348.10. The Michigan City Public Library Investment Management Account, also held at Horizon Trust, has a total on deposit at December 31, 2020, of $505,418.54.
4. SET INVESTMENT POLICY: There is no change from the Library’s Investment Policy from last year. Briefly, the policy is the Board of Finance meets annually after the first Monday of the year and on or before that last day of January in order to review the written report of the investments made by the Library during the previous year and to review the investment policy. Receipts are deposited in our designated depository the same day they are collected. As received, county tax draws are deposited immediately. The Endowment Investment account and the IMA account are invested in fixed income certificates of deposit and fixed income mutual funds that invest in U.S. government securities made up of United States Treasury notes and Government Agencies on the advice of Trust Officers from the Horizon Trust and Investment Management. The Library receives 67% of the interest earned from the Endowment Investment account and 100% of the interest earned from the IMA account. This money is deposited quarterly into an Endowment Earnings Fund, which is expended according to a budget set every year. The Library receives a complete report every month from the designated depository that holds both the Endowment and IMA Investment Accounts. These reports are reconciled monthly to the Library’s records. Motion was made by Don Montgomery and seconded by John Pugh to accept the Investment Policy. All yea. No nay. Motion carried.
5. DESIGNATE DEPOSITORIES: It is recommended that the Library stay with the current depositories. Motion was made by Don Montgomery and seconded by John Pugh to stay with the current depositories of Horizon and Fifth Third Banks. All yea. No nay. Motion carried.
6. BOARD OF FINANCE ADJOURNMENT: Motion was made by John Pugh and seconded by Doug Wickstrom to adjourn this Board of Finance meeting. All yea. No nay. Motion carried. The Board of Finance meeting adjourned at 2:50 PM.
I. RESUME MCPL REGULAR BOARD MEETING: The Michigan City Public Library Board of Trustees’ meeting was called to order again by Doug Wickstrom, President, at 2:50 PM.
II. PUBLIC COMMENTS: No comments.
III. MINUTES: Motion was made by Don Montgomery and seconded by John Pugh to approve the Minutes of the regular Board meeting of December 16, 2020, as presented. All yea. No nay. Motion carried.
IV. FINANCIAL REPORTS:
A. The Statement of Receipts and Disbursements for the month ended December 31, 2020, shows an operating fund balance $169,736.00 and a total funds balance of $4,699,767.15. The operating fund receipts for December were $1,189,059.08 and the disbursements were $1,596,041.59.
On December 23, 2020, the Michigan City Public Library received from LaPorte County Auditor the December, 2020, Settlement. The total receipts on December 23, 2020, were $1,148,468.72 and were broken out as follows: Property Tax-$1,061,708.21, License Excise-Tax $73,251.47, Financial Institution Tax-$5,738.04 and CVET-$7,771.00.
In December, 2020, the Library Operating Fund paid back borrowings of $1,100,000.00 to the Rainy Day Fund. December 31, 2020, Rainy Day Fund ending balance is $2,342,367.89.
In December, 2020, the Library transferred $175,916.57 from the Operating Fund to the Library Improvement Reserve Fund (LIRF). The December 31, 2020, LIRF ending balance is $221,790.70.
On January 4, 2021, the Library Endowment Earnings Fund received fourth quarter 2020 dividends and interest of $7,732.11. Endowment Investment Fund contributed $5,294.67 and IMA Fund contributed $2,437.44.
2021 Money owed to the Library Rainy Day Fund is $1,100,000.
B. Approval of Bills: The revised list of warrants is increased by $4,853.62 which included Brown and Brown General Contractors in the amount of $4,764.00. Motion was made by Don Montgomery and seconded by John Pugh to approve the revised list of warrants of January 27, 2021, in the amount $172,616.90. All yea. No nay. Motion carried.
C. Cancellation of Outstanding Warrants: There were no outstanding warrants.
D. Other: No report.
V. CORRESPONDENCE: Letter from United States Dept. of Commerce, U.S. Census Bureau, thanking the Library for our valuable partnership during this Decennial Census.
VI. OLD BUSINESS: No report.
VII. DIRECTOR’S REPORT: This report was submitted in the packet and will be filed with these Minutes.
VIII. COMMITTEE REPORTS: President Doug Wickstrom appointed the chairpersons and members as follows:
Building and Grounds: John Pugh, Chairperson and members are Mike Wilkerson, Don Montgomery and the alternate member is Dale Cooper.
Budget and Finance: Mike Wilkerson, Chairperson and members are Patrick Dougherty, Don Montgomery and the alternate member is John Pugh.
Policy and Procedures: John Pugh, Chairperson and members are Dale Cooper, Dr. Mark Jacobi and the alternate member is Mike Wilkerson.
Personnel: Patrick Dougherty, Chairperson and members are John Pugh, Dale Cooper and the alternate member is Dr. Mark Jacobi.
The liaison to the Friends of the Library is Dale Cooper.
IX. NEW BUSINESS:
A. Discretionary Budget for 2021: This discretionary budget helps us do extra services and programs for the community. This budget includes our Endowment Earnings/IMA, Friends of the Library, Unity Fund and Directed Gifts for a total amount of $38,000. Motion was made by Don Montgomery and seconded by John Pugh to approve of this budget as presented. All yea. No nay. Motion carried.
B. Old Library Building: It came to the attention of Administration that there was a reversion clause on the 1978 deed of sale for the Old Library building. The Director researched the Library’s archives and minute books. Attorney Terry Hiestand was engaged to guide us through this process.
When the search was complete, it was found that the Library got $25,000 for the sale to the Old Library Art Center. No reversion had been negotiated.
One of the recommendations Attorney Hiestand made was that the Library give a quit claim deed to the current owner of the Old Library. Mr. Glossinger, on behalf of the Senior Management Team, made this recommendation to the Board.
RESOLVED, that the Board of Trustees of the Michigan City Public Library hereby terminates and releases the reversionary interest that appears in deed record 79-00800 as recorded in the Recorder’s Office of the County of LaPorte, State of Indiana, and described in the following legal description:
Thirty-five (35) feet off the South end of Lot Seven (7); all of Lots Eight (8) and Nine (9); Lot Ten (10), except Forty (40) feet off the North end; Fifteen (15) feet wide off the West side of the North end of Twenty-five (25) feet of Lot Ten (10); all in Block Forty –six (46) in Elston’s Original Survey of the City of Michigan City, Indiana, as recorded on plat in Deed Record “C” Page 13.
Commonly known as 312 E. 8th Street, Michigan City, Indiana 46360. Tax ID No. is 46-01-29-431-019.000-022.
Motion was made by Don Montgomery and seconded by John Pugh to authorize the President and Secretary of the Board of Trustees of Michigan City Public Library to sign any and all documents releasing any interest in the property at 312 E. 8th Street, Michigan City, Indiana, known as the Old Library Building, conveying said interest to Richard P. Murphy and Jill M. Grabowski. All yea. No nay. Motion carried.
X. PUBLIC COMMENTS: No comments.
XI. BOARD COMMENTS: No comments.
XII. QUORUM DETERMINATION: The next regular Board Meeting is 2:30 PM Wednesday, February 24, 2021, in the Library’s Meeting Room. Any member unable to attend should inform the Library’s Administration Office.
XIII. ADJOURNMENT: Motion was made by John Pugh and seconded by Don Montgomery to adjourn this meeting. All yea. No nay. Motion carried. This meeting adjourned at 3:10 PM.
The minutes of the meeting will be published following board approval.