THE WAGNALLS MEMORIAL FOUNDATION
BOARD OF DIRECTOR'S REGULAR MEETING
MONDAY, NOVEMBER 28, 2011

The Board of Directors held a regular meeting on Monday, November 28, 2011 at 6:30 p.m. with the following board members present: Mr. Jared J. McGill, Chairman; Mr. George M. Sheehan, Vice-Chairman; Ms. Amy L. Kruse, Secretary/Treasurer; Mrs. Carol D. Middaugh, and Mr. William B. Weimer. Mr. David L. Wynkoop and Mr. Todd C. Brausch were absent. Ms. M. Ellen Gruber, Executive Director, and Mrs. Sandra K. Hall, Accountant/Library Fiscal Officer, were also present.

Chairman McGill called the meeting to order at 6:30 p.m. while silent attendance was taken by Mrs. Hall.

Ms. Gruber invited the Board Members to the Christmas Breakfast Potluck for staff and volunteers on Tuesday, December 20. She informed them that Linda Werner, who was retiring from Acquisitions on December 31, would be recognized for her 16 years of service. She also informed them that Tami Morehart had reached her 30th year Anniversary and would be recognized for her longtime and continuing service as Juvenile Librarian. She also announced that a new staff member would be welcomed at the Breakfast.

MINUTES AND FINANCIAL REPORTS:

The Board then reviewed the minutes for the October 24 regular meeting. Mrs. Middaugh motioned, seconded by Mr. Weimer, to accept the minutes. The motion passed.

The Board then reviewed the Investment and Cash Projection Summary Reports as of 11/23/11, the Monthly Portfolio Gain/Loss Report as of 10/31/11, and the Transfers Report as of 11/17/11. There was discussion regarding the stock market. The Board then reviewed the October Financial Statements and Check Registers. There was discussion regarding the status of the HVAC controls. Chairman McGill stated that he would follow up with the $7,800 outstanding proposal from Carrier to repair the controls. Mrs. Middaugh then motioned, seconded by Ms. Kruse, to approve the Financial Reports. The motion passed.

The Board then reviewed the 2011 Contributions to Date report as of 11/28/11 and the 2011 Gift-in-Kind Contributions report. Ms. Gruber noted that Henrietta Pfeifer of the Mid-Ohio Historical Museum had donated Corrine’s Brides of all Nations dolls to the Juvenile Library. Mr. Sheehan motioned, seconded by Mr. Weimer, to accept the Contributions. The motion passed.

The Board then reviewed the October bank reconciliations for the Foundation and Library. Mr. Weimer motioned, seconded by Mr. Sheehan, to approve the bank reconciliations. The motion passed.

LIBRARY:

The Board then reviewed an updated report from the Ohio Library Council on results of the November 8 Ohio Public Library Tax Levies, the November PLF distribution reports, and the October Statistical Report.

OLD BUSINESS:

Mr. Sheehan then updated the Board on the Theatre production of “A Christmas Story”. He reported that the set was being finalized for opening night on Friday and that he thought program ad sales and sponsor solicitations had went well to help cover expenses so that the show could be profitable.

The Board then reviewed an Accrued Sick Time Report and some correspondence received regarding this matter to decide whether to reinstate the payout of accrued sick time to eligible employees that was frozen on July 13, 2005. Mrs. Hall presented the various options outlined on the report. After some discussion, Mr. Weimer motioned, seconded by Ms. Kruse, to approve Option 2 amended to pay 50% of the payout balance showing on the report to retirees and former employees who left in good standing and to pay the remaining employees as they leave. The motion passed with 3 ayes and 2 nays. The Board then decided to put 10% of any 10% rule transfer in a reserve fund to pay the remaining employee Accrued Sick Time balances. Mrs. Middaugh then motioned, seconded by Ms. Kruse, to transfer the funds from the portfolio needed to pay the Accrued Sick Time to retirees and former employees. The motion passed.

The Board then reviewed correspondence from Garth’s Auctions regarding the value of the Dunsmore paintings. After some discussion, Mr. Sheehan motioned, seconded by Mrs. Middaugh, to send the Dunsmore paintings to auction retaining one or more of each genre. The motion passed.

Mrs. Middaugh then updated the Board on the Meet the Candidates Night. She reported that only two of the three candidates attended but there were about 70 people in the audience and they were very lively.

NEW BUSINESS:

The Board then reviewed a proposed 2012 Foundation Budget revised 11/21/11. After some discussion, Mr. Weimer motioned, seconded by Mrs. Middaugh, to approve the proposed 2012 Foundation Budget as presented on Page 30 of the Board Packet. The motion passed.

The Board then discussed the 2012/2013 Scholarship Awards. After this discussion, Mr. Sheehan motioned, seconded by Mr. Weimer, to pay the 2012/2013 Scholarships as presented on Page 33 of the Board Packet, that being a $1,000 Mabel Wagnalls Jones Scholarship, along with the $1,000 American Legion Post 677 Scholarship, the $1,000 (or 2-$500) A.B. & Hazel Weiser Scholarship, the $500 Charles V. Moore Scholarship, and 12-$1,000 Harry A. & Muriel Dunn Ward Scholarships. The motion passed.

The Board then reviewed a report of Board Terms and discussed a person who has expressed interest in being on the Board.

The Board then reviewed the 2012 Holiday and Closing calendar. Mrs. Middaugh then motioned, seconded by Ms. Kruse, to approve the 2012 calendar. The motion passed.

Ms. Gruber then reminded the Board that the Christmas Open House was on Saturday from 10-2 with a showing of “A Christmas Story” at 2:00 p.m. She then stated that the Board could review the October Volunteer Hours and Room Reservation reports at their leisure.

With that, the meeting was adjourned at 8:05 p.m.

Sandra K. Hall, Recording Secretary
Jared J. McGill, Chairman
Amy L. Kruse, Secretary/Treasurer