Russell Library Board of Trustees

RLJSSEELEL ELiREREAEN¥ A grsrjt p!c#ce tc` tL}e, Finance Committee Meeting Friday, September 7, 2018 Director'sofrice 8:30 a.in.-9:30 a.in. Present: Trustees Becker, Berlind; Committee Member Robert Kirkpatrick; Library Director and CEO Burkey; Chief Public Service Officer, Doyle; Director of Finance & HR Administration Harlow; 1. Call to Order: Chair Becker called the meeting to order at 8:32 a.in. 2. Public Session/Comment: There were no comments from members of the public. 3. Approval of Minutes: Minutes of the August 14 meeting were not available; they will be voted on at the next Finance Committee Meeting. 4. Investment Strategy: Chair Becker handed out a sheet detailing pros and cons of using the Community Foundation of Middlesex .County investment services. It was decided that the committee is not ready to make a recommendation at the September 1 1 meeting. We need to talk to other organizations who are using the CFMC to manage their funds; we need to incorporate financial planning into the upcoming strategic planning process; and we need to see if the articles of incorporation and gifts in the endowhient permit entrusting the endowment to another organization such as CFMC. 5. Finance Committee membership: Chair Becker is going to ask the nominating committee to search for board members with financial expertise. 6. Adjournment: It was moved (Trustee Berlind) and seconded (Committee Member Kirkpatrick) to adjourn the meeting at 9:32 a.in. Respectfully Submitted, Wenfty OuVA`/ Wendy Berlind, Secretary