HomeMy WebLinkAbout2012-04-16 MinutesFayetteville Public Library
Board of Trustees Regular Meeting
April 16, 201214 pm
Minutes
Prepared by S. Daniel, Office Manager
Board members present: K. Agee, B. Boudreaux, S. Clark, D. Ferritor, S. Graham and M. Rice. Board member absent; E. Jordan. Staff
present: D. Johnson, L. Speer, S. Foley, S. Palmer, L. Yandell, C. Walsh, L. Greenwood, and S. Daniel. Others present: Judge R.
Moore, L. Brewer, M. Malone, R. Riley of BKD, and Joel Walsh of the NWA Times.
I. The Board of Trustees meeting was called to order at 4 pm. by S. Clark,
II. Swearing in of new board members: Judge Rudy Moore swore in 8. Boudreaux and S. Graham for 5 year terms.
III. Special presentation of framed photos of FPL to retiring board members L. Brewer and M. Malone
IV. Minutes: Approval of minutes: D. Ferritor moved to approve the minutes of 2.27.12; K. Agee seconded. All voted AYE.
V. Special recognition of Lynn Yandell named as a "Mover and Shaker" by the Library Journal.
VI. Reports
A. Management Reports
1. Key upcoming events: For the first time, the SRP calendar combines children, teen and adult programs Into one
document. The adult SRP, funded In part by an NEH grant, will be "Ancient Greeks Modern Lives." Children's
programming will include Three Penney Acre, Shout Lulu, Chase Missy, a mobile aquarium, Activated Story Tellers,
and Tommy Terrific and will conclude with Trout Fishing in America. All youth librarians will be starting school visits
promoting SRC sign up.
2. February -March strategic plan progress: Authors Clare Vanderpool and Tracy Kidder drew large audiences. The
Otwell Teen Library has received an award; another is possible. (Macs with Adobe Creative Suite have been
deployed to the adult computer lab.
3. Performance measures: Digital check-outs are up 82%. Digital items added to the collection are down because
prices have become prohibitive. Programs presented are up 50%. IT staff are looking for a way to measure Wi-Fi
usage.
B. Financial Reports: Legal expenses appear to be high in the March report, but there is an error in our budget line item. It
will be corrected by the next Board meeting.
VII. New Business
A. Memo: Budget adjustments due to grants received: M. Rice moved to approve the staff recommendation; B. Boudreaux
seconded. All voted aye.
B. NEH update: The reconciliation report, prepared by R. Riley and H. Bradberry, examined assets, expenditures, and
balances at Garrison Financial. NEH donations of $1,508,036 have been certified, $400,000 in match has been received
from NEH for a total of $1,908,036 in estimated net assets. As of 12.31.11, $247,648 of the bridge money had been spent
and there has been a gain of $70,021 for net assets of $1,730,409. Of the $1.73 million, $960,798 is invested at Garrison,
and pledges due total $543,000. With defaults, almost $300,000 remains to be raised by 7.31.12.
C. "Up Among the Hills" Gala: Plans call for clearing level 300 to hold over 400 people for a ticketed, black tie optional
event. The Foundation will front expenses but sponsorships and live and silent auctions will restore costs and turn a
profit. Vista Productions will provide audio visual support; Eventures will supply elegant seating, chairs, and a red carpet.
There will be a pre -event reception at KUAF.
D. Staff raises: Historically, FPL has instituted hiring freezes and raises consistent with the city of Fayetteville. Following 3
years of no raises, this plan provides 06 increases. The plan assumes all positions are filled and new hires come in at the
mid range of their salary grade. The proposal is sustainable through 2013; budget projections are not available for 2014.
M. Rice moved to approve the 4% raise proposal as recommended; K. Agee seconded. All voted AYE. Discussion: M.
Rice noted that FPL has never come close to using the entire personnel budget. There is an unfunded liability resulting
from large accruals of sick leave and PTO for several staff members. Question called; all voted AYE.
E. Library audit: Audit opinion was clean. Assets increased over 2010 to $24,362,168. Expenses were higher than in 2010
due to the costs associated with transitioning to a new ED, but revenues exceeded expenses by $945,478. The library is
in compliance with its investment policy. Adjustments were made to net assets, fixed contributions, accounts payable,
depreciation, and disposal of fixed assets. One deficiency was communicated orally to management. Auditors
recommended integrating the budget into QuickBooks and using project codes to distinguish revenues and corresponding
expenditures to better track spending of grants and other specific revenue sources to ensure they are spent for their
designated purpose.
F. Foundation Audit: Audit opinion was clean. Net assets are now classified into 5 areas: nonspendable (e.g. Otwell),
restricted, committed, (board could decide to set aside), assigned money, and unassigned (to pay general expenses). Net
assets and Income have gone up; liabilities and expenses have increased a little. The reconciling item, $95,000,
represents the NEH film that is not yet completed; it will become a library asset when finished. The foundation was in
compliance with its investment policy. Related party notes: The Foundation keeps money at a bank headed by a
Foundation board member; the spouse of a library staffer is a Foundation vendor. A material weakness was noted:
GiftWorks, the software which tracks pledges, was not reconciled monthly to the general ledger.
G. Open positions update: Stephen Davis has been hired as Manager of Accounting and Human Resource Services. A hiring
committee has identified 4 candidates for further consideration for the marketing position.
H. Appointment of a nominating committee: D. Ferritor and K. Agee will recommend officers for the coming year.
VIII. Adjournment: D. Ferritor moved to adjourn; M. Rice seconded. All voted AYE. Meeting adjourned at 5:22 pm.
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