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1983-06-20O City of Beverly, Massachusetts Public Meeting Minutes Board: Library Trustees Subcommittee: Finance Committee Date: 06/20/1983 Place: Beverly Public Library Board members present: Lester C. Ayers, Connie E. Dooling, Dr. Edna M. MeGlynn, Roger E. Morehey, and Neil B. Olson Board members absent: Others present: Vada Komich, Elsa Forter, League of Women Voters; Howard Calish, John R. Coogan, Friends of the Beverly Public Library; Thomas Hindman, Library staff Recorder: Nancy Aberman Finance Committee Board of Trustees-Beverly Public Library June 20, 1983 7:00 p.m. Present: Roger Morency, Les Ayers, Connie Dooling, Neil Olson, Dr. Edna MeGlynn. Also present: Esther Calish, Nancy Aberman; Andrea Atldns, Beverly Times; Vada Komich, Elsa Forter, League of Women Voters; Howard Calish, Jack Coogan, Friends of the Library; Tom Hindman, staff member. Mrs. Calish noted two matters requiring Finance Committee consideration. 1) a recommendation on the remaining Trust income (35% Trustee discretion and 5% reserve fund: $13,244.89) and surplus funds left in salary account due to unused custodial overtime and changing of bookmobile grade level/staffing change. Mrs. Caiish made a recommendation to request a carry over of any salary surplus to FY 84, and if it is sufficient, to open the Farms Branch 5 extra hours per week. She projected that, at present, the surplus is approximately $1800, and this mount would be sufficient to staff the Farms branch 5 extra hours; however, if an emergency should arise, this mount may be significantly decreased, After discussion, Mr. Ayers moved, and Mr. Olson seconded, to recommend to the full board that a request be sent to the Mayor that any surplus left in the salary account be carded over to FY 84. If this mount is sufficient, it will be used to finance 5 additional hours per week at the Farms branch. Motion passed. Mrs. Calish also outlined five possibilities for the use of the remaining trust income and asked for any further ideas or recommendations from the Board: 1) creation of a reserve fund for future computer enhancements; 2) allocation for books and other library materials; 3) use for building repairs, e.g. weatherproofing; 4) creation of an architectural improvement fund; 5) creation of a separate Trust Fund principal account to generate usable interest. Under discussion, Mr. Ayers stated that it is his feeling that Trust funds should not be used for operating expenses which are the responsibility of the city. Mrs. Calish also explained that more federal grant monies may be available in the future to libraries to fund building and renovation projects; however, the library must be ready with plans at. the time that funds become available. It was felt that an architectural improvement fund would be a method to assist in attaining such plans. Mr. Morency moved, and Mr. Ayers seconded a motion for the Finance Committee to recommend to the full board to place $10,000 of current remaining trust income into a new principal account and to place the balance ($3,244.89) into an architectural improvement fund. Motion passed. Upon motion of Mr. Olson and second of Mrs. Dooling, the meeting adjourned at 7:20 p.m. Nancy S. Aberman Recorder