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Pequot Lakes Community Library
<br /> Minutes of the Board Meeting
<br /> July 17, 2007
<br /> The meeting was called to order at 6:30 p.m. by President Nancy Adams. Members
<br /> present: Nancy Adams, Dave Anderson, Sam Hennes, Ann Hutchings, John
<br /> Longnecker,Lydia Loven,and Claire Nagel. There were no visitors.
<br /> Claire Nagel moved,Lydia Loven seconded,that the minutes of the June 19, 2007,
<br /> meeting be accepted as printed. Motion carried.
<br /> Dave Anderson gave the Treasurer's Report:One CD at Lakes State Bank was
<br /> renewed for 11 months at 5.2%. $2,943.59 has been raised through book sales this year,
<br /> $1,315.59 in January and$1,628.00 at the recent July sale. We have $51,037.22 in the
<br /> Endowment Fund; $10,220.15 in the Rainy Day Certificate; $10,000 in the
<br /> Building/Expansion Certificate; $3,018.76 in the Savings Account;and$15,861.01 in the
<br /> Checking Account for a total balance of$90,137.14. A breakdown of income from the
<br /> recent Letter Writing Fundraising was given: $7,600 was designated for Endowment,
<br /> $1,725 was designated for Materials, and $1,330 was designated for Daily Operating
<br /> Expenditures. After discussion, John Longnecker moved, Sam Hennies seconded, that
<br /> the$7,600 designated for Endowment be placed in the best Certificate of Deposit that
<br /> Dave Anderson is able to purchase. Motion carried. After discussion and information
<br /> that, because the City's savings account is larger and will provide a higher rate of
<br /> interest,Dave Anderson moved,Lydia Loven seconded,that the Library Savings
<br /> Account be closed and that money moved into the City's saving account(it will be
<br /> tracked specifically for the library). Motion carried. After a discussion of the proposed
<br /> 2008 budget,Ann Hutchings moved, Claire Nagel seconded,that the budget for 2008 be
<br /> accepted. Motion carried Lydia Loven moved,Nancy Adams seconded,that the
<br /> Treasurer's Report be accepted. Motion carried.
<br /> Committee Reports: Volunteers continue their support of the library and things are
<br /> going well. The Summer Reading Program for children has at least 106 children signed
<br /> up. The first program had 75 in attendance,the most recent program had 89. There will
<br /> be an article about the library's web site in the Echo this week and Claire submits her
<br /> column once a month;any ideas are welcome. A reminder that the Basket Auction will
<br /> be Saturday,October 20, 2007,at Deacon's Lodge.
<br /> Old Business: Many positive comments have been received regarding the Web Site
<br /> and John Longnecker reported that since it started,we have had over 280 hits. Nancy
<br /> Adams will work to update the book list each month and update the back order section
<br /> for the previous month. Nancy Adams reported on her City Council presentation and
<br /> subsequent meeting.
<br /> New Business: After discussion regarding the Book Sale, it was felt that we would
<br /> continue our policy of charging for books;we would not ask people to make a donation
<br /> of their choice. The idea of a Preview Party on the Thursday evening prior to the Book
<br /> Sale was discussed and all agreed it was an idea to pursue.
<br /> The meeting adjourned at 7:30 p.m.
<br /> NEXT MEETING WILL BE TUESDAY,AUGUST 21, 2007 AT 6:30 P.M.
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