November 2023 Coburn Free Library Board Minutes

Meeting of the Board of Trustees of the Coburn Free Library November 16, 2023

Present: James Pritchard, Vice- President, Ellen Keough, Secretary, David Woodburn, Treasurer, Michael Fenn, Trustee, Carlynne Freitag, Trustee, Mikayla Worzel, Executive Director

Excused: Linda Williams, President, Joe Palladino, OACSD Trustee

Absent: Jason Luke, OACSD Trustee, Mike Phelps, OACSD Trustee

Approval of October Minutes: Mike Fenn moved that the October minutes be accepted. Carlynne Freitag seconds. Approved.

Financial Report: Account balances have been reconciled to statements for October. From Bank Statements as of 10/31/23:

Director Discretionary Fund $ 3,641.28

Line of Credit $ 27,628.15

Regular Checking $ 71,614.82

Endowment Fund $ 730,622.60

While we are still waiting on the funds from the school district, cash flow is sufficient through year end. Payment of approximately $12,000 will be due in November on the Line of Credit. A second pass of the proposed budget for 2024 was reviewed by the board. The finance committee made a motion that the budget be accepted. All approved.

Director Report: The Executive Director provided an approved copy of the First Amendment Policy. The econtact contribution to Finger Lakes was agreed upon at $2500. Mikayla Worzel had applied for a grant from Tioga Downs for the remainder of the storm window project cost. She and Mike Fenn will attend an event on 11/28 to accept funds. (unknown amount at this time).

Old Business

HVAC proposals: Jeff Smith provided Dave Woodburn with nice ideas of where to put “things” and where pipes might be snaked. He also recommended a few companies that we may approach for second quotes.

New Business:

Staff bonus for holiday discussed and approved.

Mike Fenn made a motion to place $50,000 in a 6 month CD as the rates are very favorable once the referendum funds are received. Jim Pritchard seconds. All approve.

The next regular meeting of the Board of Trustees: Thursday, December 14, 2023 at 10 AM.

Respectfully submitted, Ellen C. Keough