A new endowment fund and funds for this year's staff development brought a few questions from the Putnam County Public Library Board during Wednesday's meeting.
Director Alice Greenburg informed the board that there were two pieces to the new endowment fund.
The first was the need to establish the fund. Greenburg reminded the board that it had talked about creating this fund, through the Putnam County Foundation, which would help support the Conversation with an Author Series.
By establishing the fund, the board would approve transferring $10,000 for the library's gift fund into the endowment fund.
Greenburg then informed the board about the second piece for the fund. Greenburg said the Foundation has a endowment builder program it is using that library can apply for a matching grant of $5,000.
Greenburg said the board needed to first vote on establishing the fund, and then vote on applying for the matching grant.
Board treasurer Ken Heeke asked Greenburg if he understood correctly that matching grant money does not apply to the money the board started with. Greenburg said that matching grant money would be new dollars.
Greenburg told the BannerGraphic that if the library received the grant, then the Foundation would match $5,000 of the $10,000 the library put into the fund.
The board approved both the transferring of $10,000 into the endowment fund and the applying for a matching grant through the Foundation.
Meanwhile, the board was a little concerned with the funds for this year's staff development.
Greenburg informed the board that this was to reimburse the library staff for conference and workshop attendance and tuition costs. She also said that the board approved this last year by placing $2,500 in the fund.
Currently, there is $1,000 in the budget for staff development.
"I can keep it to $1,000, and have this additional money for course work," Greenburg said.
Both Heeke and board secretary Bonnie Nealon said that they were confused. Heeke asked Greenburg if she was planning on changing the budget, which Greenburg said no because it would come from the gift fund.
Heeke said he was concerned about depleting the gift fund since the board has already transferred $10,000 for the endowment fund.
"There's plenty there (money in the gift fund), but how farther do we want to deplete that," Heeke said.
The library currently has $90,000, minus the $10,000 for the endowment fund, in the gift fund. Last year, there was $84,000.
Heeke suggested transferring $2,500, if the other board members were comfortable with it. "It's a good incentive to keep people, keep our staff current," Heeke said.
The board approved transferring $2,500 from the gift fund to be used toward professional development for 2007.
In other business, the board:
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The board meets regularly every fourth Wednesday of the month at 6 p.m. in the Kiwanis Room. The next meeting is scheduled for Wednesday, March 21, due to spring break. This meeting is open to the public.