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Meeting Minutes — August 16, 2012

The Chairperson, Don Turner, called the meeting to order at 7:30 PM

Present: J. Fausone, K. Schulz, M. Siegrist, G. Snow, D. Turner, C. Van Auken
Also Present: E. Davis, K. Gladden

Call To Audience

No comments (M. Barker, K. Benjamin, M. Benjamin, T. Benjamin, B. Czerniak, M. Farell, L. Golden, R. Havenstein-Coughlin, A. Heidemann, A. Johnson, B. Johnson, P. Johnson, L. Kluka, M. Kluka, E. McCullough, D. McHugh, G. Mussehl, L. Papa, S. Rzetelny, I. Saunders, N. Szczepanski)

Approval Of Agenda

The agenda was approved by unanimous consent.

Approval Of General Meeting Minutes

The minutes were approved by unanimous consent.

Communications

None

Director's Report

The Endowment Fund has crossed the $300,000 mark.

There was an increase in circulation in July 2012, over that of July 2011.

On Tuesday, August 21, the IT department will oversee the migration of the catalog and database to a virtual server in preparation for the coming upgrade in September.

Committee Reports

The Finance Committee’s recommendations will be covered further on in the agenda.

Unfinished Business And General Orders

President’s Volunteer Service Award Presentation – Chair D. Turner presented Bronze Award packages to four of the 11 service volunteer program members who qualified for the award by volunteering 100+ hours each during 2011. Present for the award ceremony were: Morgan Benjamin, Lisa Kluka, Gabrielle Mussehl and Ilene Saunders. Not present were: Quinn Ebner, Betty Hellmers, Diane Miner, Jason Pino, Carolyn Sumner, Sandra Walczak and Xiao Zhu.

Capital Expenditures Guideline draft (2nd look) – E. Davis spoke briefly on this procedural document, which outlines how fund balance is "assigned" for capital under GASB 54, and the process by which the assignment, budgeting, expenditure, and transfer take place over the course of the budget year via quarterly amendments. The board indicated their approval of the procedure, but a formal vote was neither necessary nor taken.

2013 Budget (2nd Draft) – Davis reviewed the details of the summary report for the 2013 budget, indicating that this second draft version had been updated to reflect recently obtained tax revenues and assumed a 95% property tax collection rate. The board was satisfied with Davis’ responses to questions in various categories and no further changes to the budget draft were requested.

Strategic Plan – Davis reiterated the six initiatives of the new three-year Strategic Plan, as outlined at the July board meeting by consultant Susan Kennedy of K2+ Communications. Vice-chair Schulz expressed her pleasure that the new plan builds seamlessly on the previous Strategic Plan. The entire board gave their approval to proceed with the plan as presented.

New Business

Distribution of Dissolved Retiree Health Funding Vehicle Funds – Davis reviewed option 3 of a plan (formulated with input from both Plante Moran and Foster Swift) to distribute to current employees funds from the former MERS Retiree Health Funding Vehicle (RHFV). Option 3 was recommended by the Finance Committee and provides for a one-time deposit of tax-deferred retirement funds into the library’s existing 457(b) defined-contribution retirement plan, administered by Nationwide. These accounts would be owned by the individual employees and provide both portability and flexibility; half of the qualifying employees already are enrolled in this program.

J. Fausone moved and C. Van Auken supported a motion to adopt option 3 for those individual employees that were employed by CPL on July 31, 2012 and who remain employed by CPL through the point of distribution.

The motion passed unanimously, 12/8-16-1. (Trustee G. Snow abstained.)

Distribution Amounts from Dissolved Retiree Health Funding Vehicle Funds – Davis presented a proposal for a tiered schedule of payment amounts to be distributed to current employees, based on years of full time service, which had been prepared in consultation with the Finance Committee. The schedule stair-stepped in reverse from amounts already authorized for distribution to currently retired employees. Members of the Finance Committee recommended acceptance of the plan, stating their belief that the proposal adhered to the spirit of the original plan and offered consideration to the affected employees, without obligating the library to a financial burden it could no longer afford.

J. Fausone moved and C. Van Auken supported a motion to approve the recommendation of the Finance Committee.

The motion passed unanimously, 12/8-16-2.

Call To Audience

No comments

Adjourn

The meeting was adjourned at 8:49 PM.