Library Committee On Finance, March 4

this is one that I’d been meaning to type up…better late than never…

MINUTES AND REPORT OF THE COMMITTEE ON FINANCE
Date: Friday, March 4, 2011 – 4:00 p.m.
Place: Oak Room
DIRECTORS PRESENT: McGrath, Chair; Dowd; Datta; Packard

STAFF PRESENT: Contois; Tibbals

1. AGENDA (ISSUES DISCUSSED)

1.1 Tibbals reviewed the present budget with the Board and presented the Report of the Committee on Finance for the Board’s review.  Tibbals walked through the report and asked that $3,107.50 be transferred from the Saxe Fund (this included an ALA membership for Anne Hrobsky in the amount of $325.00; reimbursement for an ALA conference in New Orleans of $1,500.00; and education reimbursement to Stacey Servideo in the amount of $1,282.50 if she receives an A ($208.00 will be moved from the Miscellaneous Allocation towards this amount)) and $2,217.96 be transferred from the Green Fund ($217.96 for Program & Supplies for Library Week and travel to an MLA Conference in Danvers for $2,000.00).  Tibbals asked for approval of the Trust Fund Expenditures as presented (attached).

VOTES TAKEN:  McGrath moved, seconded by Datta to approve the Report of the Committee on Finance dated March 4, 2011 in the amount of $5,325.46.

1.2 McGrath presented an overall view of the Trust Funds.  Datta suggested that a meeting be arranged with Bartholomew.  Contois stated that he would contact Bartholomew with up-to-date contact information of and Board Members as teh current Finance Committee/Trustee.

1.3 Dowd suggested an additional $105,000.00 (a 1.5 year extension from the original pledge dated September 2009) for the Trust Funds in support of the Worcester Public Library Foundation.

VOTES TAKEN:  McGrath moved, Datta seconded.

The meeting adjourned at 6:00 p.m.

FY 2011 Combined Trust Fund Expenditures As of 2/28/2011  – see this spreadsheet.