1/14/2014 BOARD OF LIBRARY TRUSTEES Minutes

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Re its ntin d NlashMe. Lb,--y.2013Town Report Kathy provided the Library Town Report she prepared. The Trustees felt this was well done. Chip Bishop suggested putting it up on the website since it is a good report. 501(c)Q Chip Bishop reported that he and Sue McGarry represented the Trustees at a meeting last Friday with the Friends and Attorney Jeff Oppenheim to try to understand the rules with respect to establishing a process for receiving major gifts and bequests. Chip said he thinks they came away with a much clearer understanding as to what we can and cannot do. Jeff'Oppenheim emphasized right away that Trustees cannot legally and-raise for the Libmry period. Trustees are elected and have the appearance of being public officials whose influence could somehow be comprised by receiving gifts of money. , Jeff`favored what he called the"bright line of separation"between Trustees and Friends with regard to f ndraising. One group cannot control the other; however,they certainly must eommuinicate with each other. Jeff suggested we tear-up the MOCK with the Friends—too cozy and violates`bright line of separation". Jeff did not feel MOU needed to be replaced. Any direct gifts to go right to the Friends and they can establish a major gifts and bequests account, if they want. These gifts would remain under their control and they,and only they,can determine how invested and managed. Trustees can make suggestions,but Friends have to act independently. Chip said everybody agreed there has to be continued communication between the Friends and Trustees. Jeff` suggested the Trustees consider having a public annual meeting with the Friends at least once a year or even more frequently. Sue McGarry added the Friends also taped abort the fact that they want to loaf at unrestricted gift. Sue said she felt very reassured that they understood the shared responsibilities with their duties and understood if someone wanted to donate large sum of money they would have questions. Chip said he is of the opinion that the Friends felt that the issues have been clarified and they were comfortable with this clarification. Chip asked: Are the Trustees comfortable with this'Do we accept Jeff ppenheim's recommendations and are we comfortable with them` If o,can.we proceed tale whatever steps are necessary to begin to receive major gifts and bequests and put there in the Friends' hands` If so, next stela would be Trustees agree in principle. Chip and Sue would life to go back to the Friends with consensus this is reasonable approach and that Trustees willing to have dialogue about this going forward. i Kathy Mahoney noted that thought has to be addressed regarding Library policy. what f giver wants to attach restrictions to gift? Chip said the Friends are open to accepting recommendations of Library Director and Trustees. Friends have to be careful about not accepting restricted gifts with certain caveats. This can be addressed by Friends communicating with Library Director and Trustees. i Consensus was readied by the Trustees to keep moving forward. Carlo l ' ste commented this is good—now we have clarity. Communications Terrie Cook reported that: For now, FinCom not going to have Kathy come to address budget unless Kathy has something she grants to present to them.