Minutes of the Meeting
Fitzwilliam Town Library Board of Trustees
4 June 2018
Present: Dick Goettle, Barbara Green, Ann McEntee, Nick Noyes, Susan Curtin (alternate), Trish Toomey (alternate) and Library Director Kate Thomas
Nick Noyes called the meeting to order at 5:30 PM in the Quick Meeting Room of the Library.
Carl Gravina, Monadnock Capital Group at Stewart Global Advisory, attended the meeting to review the library’s investment portfolio. He presented the market outlook and recent changes to the portfolio in light of the library’s investment policy. A discussion about the 5-year, $5,000 certificate of deposit, due to expire June 6th, ensued. Ann McEntee put forth a motion to retain $1,000 for 2018 and 2019 book expenses, as laid out in the terms of the E. Massin Memorial Trust; the balance of which would be deposited in a 2-year, brokered certificate of deposit. Motion seconded by Nick Noyes; motion carried. Treasurer Dick Goettle will oversee the deposit.
The Trustees reviewed and signed the Library Manifest and the Library Expenses Spreadsheet.
The Trustees reviewed the library’s investment policy. Given the number of grammatical and syntactical changes needed, Dick offered to finesse the policy. The revised policy will be reviewed during the July trustee meeting.
The minutes from the May 7th Trustee meeting were reviewed; Nick put forth a motion, seconded by Barbara Green, that the minutes be approved. Motion carried.
The library has received $2,686.19 from the Trustees of the Trust Funds for the purchase of books.
Ann presented the updates to the NH RSAs that pertain to libraries, which she learned during the annual NHLTA conference (May 14th, 2018). A brief discussion transpired. She also suggested that the order of the monthly meeting be altered so that Kate Thomas can present the Library Director’s report after the approval of the minutes; this will eliminate duplication of topics. Trustees agreed.
Nick put forth a motion that the estimate for the library’s new sign ($495, which includes the necessary hardware) be approved; Ann seconded the motion. Motion passed. It was agreed that library trustees would oversee the installation of the sign.
Kate Thomas presented the Library Director’s report, which included what she learned during the NHLTA Conference. She asked the Trustees to consider drawing up a Memo of Understanding (MOU) between the Trustees and Friends of the Library to ensure that the latter maintains its fiduciary responsibility to the library’s patrons.
The next Trustee meeting was set for Monday, July 2nd, 2018 at 5:30 PM.
Ann put forth a motion, seconded by Nick, to adjourn the meeting at 6:58 PM. Motion carried.
Respectfully submitted,
Ann McEntee
Secretary