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Board of Trustees

Board of Trustees Meeting Minutes February 8, 2019

Stowe Free Library Board of Trustees Meeting

February 8, 2019

 

Present: D. Witmer, C. Lusk, C. Maison-Kastner, D. Johannesen, D. Bryan, K. Kaufman, C. Weber (Director), R. Ziegel (Friends’)

Absent: B. Fox

Call to Order: 8:02 a.m.

Approval of Minutes: Minutes approved as read.

Friends’ Report: The Friends will be accepting donations for the book sale beginning April 15th. They have over $50,000 available to give to Cindy for collection purchases.

Treasurer’s Report: Checking account has $37,296. It will be $7,060 less once we pay the town the quarterly contribution. Current Development Contributions are approximately $23,000. The Copley Fund has given us $4000 (usually $3000). The Endowment Fund is at $1,043,460. The Free Balance is: $17,760 with $5,962 still available from bequests. Everything, including Union Bank stock, is now at Morgan Stanley. The accounts are active. We will be receiving monthly statements.

Director’s Report:

Insurance payout was 40% of the $411,000 value of the lost inventory, but it was raised to 60%. The town received an insurance check for $231,000 which is in an isolated town account that Cindy has access to as needed. The repair on the infrastructure of the library has just been completed. The electric is back on and the air quality is fine. They will be insulating next week, the 13th and 14th of February. New shelves being built that will look same as the original ones. The damaged carpeting will be replaced and the older carpet tiles will be donated. Cindy has begun the replacement process of books. She has begun to buy material by popular authors from the last 2 years to get their books on the shelves as soon as possible. The satellite library in Akeley is working out well. People are using it and self-regulating the amount of books they take out, 25-30 people are visiting on a daily basis.

 

Old Business: No old business

New Business: Discussion about a fundraiser for the library.

 

Next Meeting: March 8th

Adjournment: 9:06 am

 

Respectfully Submitted,

Kim Kaufman

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