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Library Minutes 2012 01-09-12 APPROVED W/ CORRECTIONS 2/13/12 Yorkville Public Library Board of Trustees Monday, January 9, 2012 902 Game Farm Road – Library Historic Wing 7:00pm The meeting was called to order at 7:00pm by President Beth Gambro. Roll Call Carol LaChance-yes, Susan Chacon-yes, Judy Somerlot-yes, Sandy Lindblom-yes, Jo Ann Gryder-yes, Beth Gambro-yes, Gail Gaebler-yes, Bob Allen-yes Absent: Barb Johnson Others Present Library Director Michelle Pfister City Finance Director Rob Fredrickson Mariann Manthei, Friends of the Library Recognition of Visitors – President Gambro recognized the visitors. Amendments to the Agenda – None Minutes – December 12, 2011 Corrections requested are shown in bold: installedHardy Page 3, Point #5 last sentence should read “The company that the siding…” 2011 Page 3, City Council Liaison heading—last sentence should have at the end of last sentence. The minutes were then approved as amended on a motion by Ms. Lindblom and second by Ms. Gryder. Unanimous approval. Correspondence – Kathy Farren from the Kendall County Record sent a letter requesting notification of any special, emergency or committee meetings or cancellations. This is in accordance with the Open Meetings Act. Public Comment – None Staff Comment – None 1 Report of the Treasurer Budget Report 1. Ms. Lindblom reported that approximately $5,000 more in personal property tax is anticipated over the rest of the fiscal year. 2. Page 2: In the Fund Surplus, there is a deficit of $1,829 over the budget YTD. 3. Library is at 67% of the budget and the budget is two-thirds through the FY. 4. $720,800 was levied and the Library has received $718,839 Detail Board Report 1. Page 1: 3M is an annual contract 2. Page 1: ACI is for the fire alarm in the elevator 3. Page 2: $995 is for Novelus, a database for fiction books 4. Page 3: R. J. Kuhn invoice for $1,394.24 for water leak repair 5. Total invoices of $31,351.59 and payroll of $36,791.23 Payment of Bills A motion was made by Gail Gaebler and seconded by Jo Ann Gryder to pay the invoices of $31,351.59 and the payroll of $36,791.23. Roll call: Chacon-yes, Somerlot-yes, Lindblom-yes, Gryder-yes, Gambro-yes, Gaebler- yes, Allen-yes, LaChance-yes. Passed 8-0. Report of the Library Director Statistics 1. 1003 items circulated 2. 50 new patrons 3. Library staff still reviewing donated items 4. 67 toddlers attended Toddler Time, (not 672 toddlers) 5. 18 Friends of the Library attended the December meeting 6. Mariann Manthei reported the next Friends meeting is January 22, 2012 at 2pm 7. Upcoming programs include dancers, Route 66, author program, local author Denise Swanson, coupon lady, character portrayal of Emily Dickinson 8. 73 children visited with Mr. & Mrs. Santa Claus 9. $100 gift received from Jane Birch, retired schoolteacher 10. $30 gift received in honor of Dick & Bev Popp 11. Letter was received from Library Attorney advising that in 2012, Trustees must participate in training for electronic usage per the Open Meetings Act. Trustee Allen asked if the Board is locked into a particular attorney and wondered if a local attorney could handle the Library’s business. Ms. Pfister said the current attorney specializes in library law and is an expert. 12. Library employee Shelley is working on adult program 13. Article in Record last week about the most popular books in 2011 14. Friends donated 4 books In another matter, Ms. Pfister also noted that an email was received from Sound Inc. who handles the telephone system. The email stated that the warranty was expiring and they wish to sell an extended warranty. Michelle said there have been minimal problems with 2 the 36 phones, even though it is 5 years old. Trustee Allen asked if the library could function on half the number of phones or if cell phones could be used instead. The transfer capabilities of cell phones was questioned. Having another service was also suggested. A decision will be needed in about 30 days. It was noted that the maintenance contract expires January 17, 2012. This item will be placed on next month’s agenda and Tom Lindblom will be asked to speak with Sound Inc. Ms. Pfister also said the Boy Scouts will be selling “treasure” breads in January. The Library will receive a portion of the proceeds for children’s books. A graph showing money spent for library programs in December was discussed and Ms. Pfister said she had an itemized list of the expenses. Ms. Lindblom asked to have “Year To Date Balance” and “Children’s” Library Programs added to the report. City Council Liaison None Standing Committees None Policy Unfinished Business Computer Classes Ms. Somerlot reported that a printed and on-line survey had been approved in an effort to evaluate the computer classes. The survey will be reviewed and a decision made in a month. Potential class participants would be told upfront there is a $5 cost per class. Ms. Gaebler suggested placing the information in the Record also. New Business Finance Policy Ms. Gryder reported that the Policy committee met last month and drafted a preliminary policy. Trustee Allen pointed out that the month the levy is to be done should be added to the policy. President Gambro questioned the distinction between just paying a bill for a contract or discussing contract invoices first. She suggested including the subsequent decision in the policy. Ms. Pfister also said that although her name might be on the contract, she does not enter into the contract without Board approval. Motion: A motion was made by Ms. Gryder to adopt the Financial Policy as presented. Ms. Gaebler seconded the motion. Discussion: Bob Allen referred to Expenditures, 3b and suggested that the portion that states “City practices and policies” is too vague and asked that this be deleted from the policy up to the comma. Mr. Fredrickson said the procedure that is followed at the City offices is coding of the expenditures with no forms involved and then approval by authorized signers for payment. 3 It was also decided to keep the $2,500 limit in the policy to allow Michelle to pay this amount without Board approval. Amended Motion: Ms. Gryder amended her original motion to approve the Financial Policy as revised. Ms. Gaebler seconded this amended motion. This motion was approved unanimously on a voice vote. President Gambro noted there is a new table of contents for the policy manual. Metropolitan Investment Fund The City is a member of this Fund and Mr. Fredrickson recommended that the Library become a member also by adopting a resolution. He said this Fund is triple A rated, liquid and safe. The Board President, Treasurer, Library Director and Finance Director would become authorized signers which would allow them to view balances on-line. There is no fee to join this Fund and it is administered by IMET. In order to earn the higher interest rates and “basis points” that IMET offers, the money could not be deposited in local banks. Rob explained a “basis point” as one-tenth of 1%. The Fund is also fully collateralized and FDIC-insured to $250,000. Anything over the $250,000 amount is fully collateralized and covered by U.S. Treasury securities. It was noted by Rob that security funds are money market funds. The Fund has existed since 1996. Mr. Allen said he was not comfortable with placing the property tax money into IMET, however, Mr. Fredrickson said 215 municipalities currently participate in the IMET. Ms. LaChance asked if there is a way to split the funds to not exceed the $250,000 limit. In order to maximize the return on the cash reserve the Library has when taxes are received, Rob explained that keeping the funds in IMET will earn the best interest. Motion: Judy Somerlot made a motion that the Library should approve an ordinance to participate in the Illinois Metropolitan Funds. Gail Gaebler seconded the motion. At this time, Ms. Lindblom called for the vote. Discussion: Mr. Allen expressed his concerns and said this fund has an element of risk and that it is a substantial amount of money to remove from local banks. Ms. Somerlot pointed out that the Fund is limited as to the placement of their investments. President Gambro added that the Board owes it to the community to earn the best interest possible. Roll call vote: Somerlot-yes, Lindblom-yes, Gryder-yes, Gambro-yes, Gaebler-yes, Allen-no, LaChance-yes, Chacon-no. Motion passed 6-2. Rob noted that a minimum of $25,000 should be put into IMET or whatever larger amount the Board decides. He recommended moving most of the reserve money into IMET and also moving $79,000 from the Illinois Funds to IMET. It was pointed out by Ms. Gryder that the Board has not been involved in investment decisions in the past. 4 Motion: Ms. Gryder moved to transfer the funds from the reserve account into the IMET Fund. Gail Gaebler seconded the motion. Roll call vote: Gambro-yes, Gaebler-yes, Allen-no, LaChance-yes, Chacon-yes, Somerlot-yes, Lindblom-yes, Gryder-yes. Passed 7-1. Mr. Fredrickson said he moved money into the Illinois Fund when the amount was reaching the collateral limits. Mr. Allen asked if IMET can invest in other funds besides U.S. securities. Rob said there are 2 funds: convenience funds and 1-3 funds. He only places money in the convenience funds. President Gambro asked the Board members to review the investment policy prior to the next meeting and come back with ideas and to also discuss if the money from the Illinois Funds needs to be moved. This will be placed on the agenda for discussion next month. Executive Session - The Board convened to Executive Session at 8:52pm and ended at 9:04pm. Roll call back into regular session: Allen-yes, LaChance-yes, Chacon-yes, Somerlot-yes, Lindblom-yes, Gryder-yes, Gambro-yes, Gaebler-yes. New Business cont. Bob Allen moved to not release Executive Session minutes in Packet 1 and Packet 2. Susan Chacon seconded the motion. Approved unanimously on a voice vote. Additional Business Ms. Gaebler reminded the Board that City Treasurer Bill Powell spoke to the Board approximately a year ago regarding protecting funds at Old Second Bank. Funds were placed in a non-interest bearing account at that time to insure the safety of the funds. No further discussion. Adjournment There was no further business and the meeting was adjourned at 9:05pm. Minutes respectfully submitted by Marlys Young, Minute Taker 5