Swanton Public Library
Board of Trustees
May 24, 2017
The financial meeting of the Swanton Public Library Board of Trustees was held on Wednesday, May 24, 2017. In attendance at the meeting were:
Rebecca Rupp, Chairman
Kathy Kneebone, Secretary
Paul Foisy, Trustee
Kathy Messier, Treasurer
The meeting was called to order at 7:02
Kathy Messier presented the budgets for the years 2015 and 2016 which were reviewed and discussed. From this discussion the following procedures and changes will begin.
*The monthly director’s report will now list library and annotate library revenues. The report will be submitted to the board electronically prior to the monthly board meeting.
*The library director will now be responsible for payroll; the treasurer will continue to sign checks.
*The treasurer will now use a secure library computer for library financial transactions and records.
*The board will consider hiring a book keeper in the future if the need arises.
The Vera Cline and Swanton Trust accounts were discussed. The Vera Cline funds may only be used to purchase books. The library may take a distribution from the Swanton Trust to pay for capital improvements, such as roof repairs and flooring.
The library has always had two bank accounts, a checking and a money market account. The Community Financial Services Group handles our money market account which accepts transfers from our trust accounts (approximately $30,000 from the trust account over the last 2 years) and has a restricted number of checks allowed. A CFSG representative will be invited to our next meeting on June 14th to further discuss our accounts.
Kathy Messier presented copies of bank statements and checks for the last 2 years and provided the board with a financial overview. It was decided that bank statements will now be included with the monthly treasurer’s report. It was also decided that the treasurer’s report, including warrants, budget summary, and bank statements, will now be emailed to board members a week prior to our regular meeting for board review.
The three distributions of the library budget from the town were discussed, and the question of why the library had a financial shortfall in January 2017 addressed. Kathy Messier explained that this was due to an error in salary calculation and not a problem with the overall library budget. The first 2017 distribution from the town has been received and deposited.
The next scheduled Board meeting is June 14, 2017.
Respectfully Submitted,
Kathy Kneebone, Secretary