Minutes Fitzwilliam Town Library Board of Trustees October 5, 2015

Present: J. Nicholas Noyes. Gail P. Landy, Richard Mays, Dick Goettle, Barbara Green, Nancy Woodward(alternate), Director Kate Thomas

Absent: none
Guest: Carl Gravina

The meeting was called to order by President Nick Noyes at 6pm. Nick introduced Carl Gravina of Wells Fargo Advisors who gave the annual financial review of the Library Portfolio. Third quarter losses were discussed. Long term performance of the portfolio of mutual funds is satisfactory.

After Mr. Gravina left, the Board reviewed its stated Investment Policy. Nick moved acceptance of the policy as distributed. Richard Mays, seconded the motion and the vote was unanimous to continue with the current policy for another year. Secretary Landy will e-mail Carl Gravina to indicate the approval so it will be current in his files.

The Trustees reviewed and initialed the manifest.

The minutes of the August 31, 2015 Trustee meeting were approved as distributed.(Moved by Noyes, seconded by Mays).

There was nothing new to report on roof repair. We are waiting for the contractor to begin work.

Trustees have received copies of the Library Long Range Plan and will discuss it in more detail at the November meeting.

Forms for submitting the budget have been received by Director Thomas but the expenditures to date thru September have not yet arrived.

The Trustees reviewed the draft budget presented by Kate, Dick, and Nick line by line. Some minor changes will be incorporated in the final budget to be submitted to Selectmen in October.

Kate reported that the art installation scheduled for this Fall has been postponed until Spring. FY2015 budget sheets were distributed.

Richard moved and Gail seconded adjournment . Meeting was adjourned at 7:32pm

Respectfully submitted

Gail P. Landy, Secretary