Library Reports On 1998 Activities
July 28, 2016 at 4:25 p.m.
The Warsaw Community Public Library board of trustees started 1999 with a look back at 1998.
Business manager Renee Sweeney reported the final payment of $11,223 for the library renovation has been made to the project's management firm, InterDesign Group of Indianapolis. With the final payment for the new library, there were unexpended funds remaining in the library bond fund.
"As you can see from the report, we have a remaining balance of $5,100 in the bond fund," she said.
She said that amount would be rolled over into the building fund for this year.
Sweeney also said the library funds invested in 1998 went to three local financial institutions. Certificates of deposit were purchased from First Source Bank ($3,751,590), Lake City Bank ($3,012,100) and First National Bank ($877,400)
She said the investment policy consists of calling the local institutions for the best rates of return and investing the library's funds at the highest. Currently, Lake City Bank offers the highest interest rate on certificates of deposit, at 4.65 percent on 28-day certificates and 4.8 percent on 154-day certificates.
Director Ann Zydek reported the library not only set a record for circulation, but brought in a record number of nonresident patrons.
"We had a total circulation for 1998 of 409,118 items," she said. "And we ended the year with 452 nonresident patrons and a total of 16,017 registered borrowers."
Board member Mark Morrison said he was encouraged with the additional 179 nonresident patrons of the library, and that it indicated the reach of the library is expanding.
"Our nonresident borrowers have gone up 70 percent over the last two years, so we are meeting an unmet need," he said.
In other business, the board elected officers for 1999 and elected the members of the library's board of finance.
The board president for 1999 will be Irv Lindemuth; vice president, Mark Morrison; secretary, Joel Curry; treasurer, John Yingling; and assistant treasurer, Ruth Jones.
The board of finance will be Lindemuth as president, Morrison as vice president and Joel Curry as secretary. [[In-content Ad]]
The Warsaw Community Public Library board of trustees started 1999 with a look back at 1998.
Business manager Renee Sweeney reported the final payment of $11,223 for the library renovation has been made to the project's management firm, InterDesign Group of Indianapolis. With the final payment for the new library, there were unexpended funds remaining in the library bond fund.
"As you can see from the report, we have a remaining balance of $5,100 in the bond fund," she said.
She said that amount would be rolled over into the building fund for this year.
Sweeney also said the library funds invested in 1998 went to three local financial institutions. Certificates of deposit were purchased from First Source Bank ($3,751,590), Lake City Bank ($3,012,100) and First National Bank ($877,400)
She said the investment policy consists of calling the local institutions for the best rates of return and investing the library's funds at the highest. Currently, Lake City Bank offers the highest interest rate on certificates of deposit, at 4.65 percent on 28-day certificates and 4.8 percent on 154-day certificates.
Director Ann Zydek reported the library not only set a record for circulation, but brought in a record number of nonresident patrons.
"We had a total circulation for 1998 of 409,118 items," she said. "And we ended the year with 452 nonresident patrons and a total of 16,017 registered borrowers."
Board member Mark Morrison said he was encouraged with the additional 179 nonresident patrons of the library, and that it indicated the reach of the library is expanding.
"Our nonresident borrowers have gone up 70 percent over the last two years, so we are meeting an unmet need," he said.
In other business, the board elected officers for 1999 and elected the members of the library's board of finance.
The board president for 1999 will be Irv Lindemuth; vice president, Mark Morrison; secretary, Joel Curry; treasurer, John Yingling; and assistant treasurer, Ruth Jones.
The board of finance will be Lindemuth as president, Morrison as vice president and Joel Curry as secretary. [[In-content Ad]]