P. O. Box 10 308 Main Street Rosiclare IL 62982 US

Rosiclare Memorial Public Library

Meeting Minutes
November 9, 2021

CTO: 6:16 p.m.

Present: J. Lane, D. Hamilton, C. Carman, S. Angleton, S. Wiesemann, W. Gibbs, K. Eddleman

Absent: I. Bishop

Discussion/New Business:

Motion to approve October minutes. S. Angleton/W. Gibbs, All agreed

Motion to approve October financials check numbers 11002; 11004-11017; 11020 and 4 epays. C. Carman / S. Angleton, All agreed

S. Angleton took a very thorough inventory of the furniture. A copy will be put in the safety deposit box.  It was suggested that someone take a few pictures of the inside of the library for insurance purposes in case of fire or other disaster. 

Holiday Open House will be held December 11, from 10 a.m. to noon.
Board members reviewed Chapters 10-13 Standards for Illinois Public Libraries - Serving our Public

Ch. 10 Provisions are made but not noted.

Ch. 11 Youth serving policies - Don't have staff professionally trained to work with youth

Ch. 12 Website not ADA, needs to be updated monthly

Don't have minutes on website

Ch. 13 Marketing - communication plan to share goals

The Live and Learn Application Grant is due January 15, 2022. It was suggested that Sharon contact Alene Carr with SIRPDC to see if we should apply for the grant. The idea of a storage building to be placed behind the library was discussed.

Librarian's report: See report

Unfinished business: 

Motion to approve the sale of AT&T stocks and funds be deposited into the existing mutual fund. K. Eddleman/C. Carman

Possible new board members were discussed: Chris Goolsby, Andy Oxford, Valerie Holbrook. C. Carman will make some contacts in the future.

Workman's Comp: A Banterra Insurance agent will meet with Kevan and Darlene to discuss quotes in the upcoming future.

Motion to adjourn at 7:57 p.m. C. Carman/ K. Eddleman

Minutes prepared by Jennifer LaneType your paragraph here.

Rosiclare Memorial Public Library

Rosiclare Memorial Public Library
Meeting Minutes
October 12, 2021
Present:  J. Lane,  K. Eddleman, C. Carman, S. Wiesemann, W. Gibbs, D. Hamilton, S. Angleton
Absent:  I. Bishop
Visitor: Chris Haynes, Banterra 
6:02 p.m. Call to Order

Discussion/New Business: 

Chris Haynes with Banterra Investments came to talk to the library board members to update them and advise them on their LPL financial account transferred to him from Raymond James back in 2015. 
Currently, the Otto Cochran investment donation of $50,000 originally donated to the library in 2006, is worth $48,703. In 2015 it was worth $46,379 when Chris took over as investment broker. The investment was a gift to the library. Only the donation was invested. No tax funded money or other monies have been added to the investment account. The account provides income to the library to purchase books or other needs the library might have, as stipulated by Cochran when he made the donation handled by Edward Jones originally.
Currently, there is a stock in A T & T and a Franklin Income Mutual Fund. There was a government bond that expired in November 2020. Its value was reinvested in the Franklin Income Fund.
A T & T fund value is $3,800. It was $32.58 per share in 2015, but has gone down to $25 per share. The A T & T stock currently pays $78 in dividends every 3 months (8.2 %).
The Franklin Income Fund had a 25.2 % return in the last year; 7.7 % return in the last 3 years; and 7.4% return in the last 5 years. It produces $166.00 dividend each month.
On a scale of 1-10, Chris described it as a 4, a low risk investment that provides income.
The goal of the investment account is growth with income.

Chris explained that interest rates are at an all time low right now and they are expected to rise very slowly. Chris said the library could purchase a Certificate of Deposit for 1 year, but the interest would be 0.4%, only providing $195 of interest income for one year.
He said Government Bonds are worse, only providing 0.3 % interest for one year; 0.32% interest for 3 years; and 1.61% interest for 10 years. 
The donated investment account would hardly make any money if the library chose to go that route.

Motion to sell A T & T stock (value $3,800) and purchase a second mutual income fund with a slightly higher investment risk (5 on a scale of 10) with Banterra Investments. C. Carman/ K. Eddleman - All Agreed.

Motion to approve September minutes. K. Eddleman/C. Carman - All Agreed.

Motion to approve May financials, checks 10971–10986; 10990-10991 and two e-pays, and one PayPal transaction. K. Eddleman / S. Angleton - All Agreed

Librarian’s report: see attached

Unfinished Business:  
Still looking for new board members to replace P. Koch and C. Gowins

New Business:
Sharon discovered that there is no Workman’s Comp Insurance on library employees, but was unable to successfully talk to the insurance company since she is an employee. K. Eddleman or D. Hamilton will follow up with the insurance company to get a quote.

Sharon will take a vacation from Oct 13-18. Donna W. and Patti S. will cover for her while she is gone.  Shirley Angleton will be volunteering to help out too.

Board members reviewed Chapters 5-9 in Serving Our Public 4.0
Ch. 5 - No maintenance schedule or list of repairmen to fix future issues
No inventory list - Shirley Angleton will start working on one when she volunteers at the library.
No Capital asset plan
Ch. 6 - No emergency manual or disaster plan. No defibrillator, but ambulance hall is next door. Might get a defibrillator with Live and Learn grant. 
Put up a sign for recommended area for tornado shelter under tables where computers are.
Ch. 7 - no improvements needed
Ch. 8 - no improvements needed
Ch. 9 - Work on getting more books/resources in different subject areas in the library

Motion to adjourn at 8:12 p.m. C. Carman/S. Angleton - All agreed.

Minutes prepared by J. Lane.