Indiana's oldest continuously operating public library
Library Phone: (812) 682-4806

December 6, 2017 Minutes

The Board of Trustees of the Working Men’s Institute met on December 6, 2017, at 4:30 p.m.

President Fred Frayser called the meeting to order. In attendance were Mr. Frayser, Vice-President Nathan Maudlin, Secretary Tom Cullum, Trustee Tamara Allison, Treasurer Kenyon Bailey, Director Ryan Rokicki, and Rose Overton. One member of the public was also present.

Minutes of the November 7, 2017 were reviewed by the members of the board. Mr. Maudlin moved to accept the minutes as presented. Mr. Cullum seconded. Accepted.

The Treasure’s Report was then presented. The actively managed account has been doing very well. There was a discussion of moving assets above the principle amount of $385,000 to the Gift Fund. Nathan Maudlin motioned that when the fund has reached $400,000 or higher, the surplus amount over $385,000 will be transferred to the Gift Fund. Ms. Allison seconded the motion. Approved.

In Old Business

There was a discussion of the funding sources for the School Project. The Trustees acknowledge that there is a challenge due to the changing circumstances related to prospective funding. Although Jeremy Efroymson has decided to withdraw his pledge from the school project, he has decided to donate directly to the WMI. The donation amount is $50,000 over a period of 2 years. Each annual installment of $25,000 is to be used for WMI operations. Discussion followed regarding how this gift could be used to enhance components of our museum exhibits. Nathan Maudlin moved to have Ryan Rokicki prepare 2 exhibits for the WMI by the end of 2018. (Murphy Gallery and Prehistoric display). Tammy Allison seconded the motion. Approved.

There was no New Business.

Director’s Report~ see attached. Mr. Rokicki also requested a board motion to allow end-of-year transfers to be made to keep all WMI budget items in the black. Nathan Maudlin moved to allow these end-of-year transfers to be made to satisfy State Board of Accounts policies. Tom Cullum seconded the motion. Approved.

Mr. Rokicki presented the claims. Mr. Cullum moved to accept them. Ms. Allison seconded. Accepted.

With no further business, the meeting was adjourned.