Salem, Massachusetts November 20, 2008
A meeting of the Board of Trustees was held this date at 4:00 p.m. at the Library with Trustees Buckley, Clarke, Merry, Shea and Trustee Yale present and presiding. Mayor Driscoll and Trustee Little were absent. Ms. Jackson was present.
John F. Doherty, Vice President Eastern Investment Advisors, met with the Trustees to review their financial portfolio and to discuss the current economic crisis. Mr. Doherty went over the Library’s financial report with the Trustees and answered their questions. In October Trustees Clarke and Shea and Ms. Jackson attended an Eastern Bank Seminar on the current financial situation. The Trustees thanked Trustees Clarke and Shea for attending the seminar.
Approval of Minutes of September 18, 2008. UNANIMOUS
Current Library Use and additional Financial Reports were distributed including the FY 2008 Financial Statement and tax filings prepared by R. Peter Avila. Ms. Jackson and the Trustees thanked Trustee Shea for his prompt attention to the library’s financial matters.
Trustee Shea suggested that the Trustees consider repeating the holiday gift to the staff. In 2007 the Trustees voted to give a one-time monetary gift of appreciation to all staff members. Trustee Shea said that the economic times were so dismal that it would be helpful to do it again this year. The Trustees agreed and voted to give all staff members a monetary gift of appreciation.
Ms. Jackson reported on the bid opening for the library walkway. Cali Corporation, Natick was the lowest bidder at $18,900. Architect Robert Farley is checking on the company’s references.
Ms. Jackson reported on the State Aid Grant. The Library was awarded $34,994. This is a partial payment. The Massachusetts Board of Library Commissioners determined that half of the money would be saved and distributed at a later date (March or April).
Meeting adjourned at 5:25 p.m.
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