Save Our Library / H.B. Library Fund

Community support for continuing library service during the County funding crisis, including the possibility of an independent city library.

Also named in the records: Save the Library Fund; Save Our Library Fund; H.B. Library Fund; HB Library Fund

Latest documented position: Separate balances precede September 2014 Fidelity transfer and combined reporting. Current legal status, continuing earmarks and ultimate individual-fund disposition remain unresolved.

From the records

1. June 16, 1993agreed in minutes

   Friends agree to keep General intact and create a separate Save the Library Fund during the crisis over County service, to be managed by a subcommittee.

   Source: Board creates a separate library rescue fund and reports book donations

2. July 17, 1993reported discussion

   Emergency meeting discusses collecting and managing money. A dated register shows the first seven entries on July 17, then three more on July 21.

   Source: Emergency community meeting on threatened library closure; Save Our Library donor register — first sheet

3. December 31, 1993reported approximate

   Annual report lists the Save Our Library account at Smith Barney Shearson at approximately $2,165. $2,165.00

   Source: Annual report for operations, Save Our Library and Belasco

4. December 15, 1994approved

   Board approves moving $7,500 to earn more interest. Charlotte describes unsolicited July 1993 donations and the separately held rescue account. $7,500.00

   Source: Board votes to invest $7,500 and debates the rescue fund’s purpose; Board votes to invest $7,500 and debates the rescue fund’s purpose

5. December 28, 1994directed; position reported at year-end

   Malone directs purchase of a one-year CD with $2,500 from the rescue account and $7,500 from the Friends. The letter names Save Our Library as CD holder and directs retention of $43 in its money market. $10,000.00

   Source: Annual report — operations, library reserve and Belasco fund; Clyde W. Malone Jr. instructs broker to purchase a library CD

6. September 21, 1995reported observation

   Treasurer reports $10,280.09 under the H.B. Library Fund name. $10,280.09

   Source: Board approves computer purchase and reports reserve balances

7. October 1995authorized and reported invested

   Elected officers withdraw $5,000 from General and invest it in a six-month insured CD at 5.75%. The annual report records the investment in the H.B. Library Fund. $5,000.00

   Source: Board approves computer purchase and reports reserve balances; Certified annual financial report for 1995

8. October 28, 1995purpose stated; account unresolved

   Woman’s Club designates its contribution for a city library independent of County decisions. Keep the solicitation purpose distinct from the unverified account of deposit. $1,000.00

   Source: Woman’s Club gives $1,000 toward city library independence; Certified annual financial report for 1995

9. December 31, 1995reported observation

   The 1995 certified report cites the December 1994 and September 1995 minutes next to the H.B. Library Fund balance. $15,231.52

   Source: Certified annual financial report for 1995

10. January 18, 1996approved; annual report records it

    Board authorizes another $5,000 CD purchase. The treasurer’s annual schedule attributes its H.B. Library Fund line to this vote and the two earlier decisions. $5,000.00

    Source: Charlotte Malone elected president and library Internet trial approved; Treasurer’s annual report for operations and the two library funds

11. December 31, 1996reported observation

    The year-end H.B. Library Fund position is $22,274.64. Later disposition remains open. $22,274.64

    Source: Treasurer’s annual report for operations and the two library funds

12. June 6, 2002reported in source

    Minutes report a $6,000 transfer into the Library investment account. $6,000.00

    Source: Board reports investment transfer and dedicates November proceeds; Board reports investment transfer and dedicates November proceeds

13. February 20, 2008authorized; posting not established

    Board authorizes $2,000 to this fund as part of five-fund allocation. $2,000.00

    Source: Board accepts paintings and approves contributions to five funds

14. September 2014completed transfer reported

    Treasurer reports September transfer of assets from Morgan Stanley to Fidelity; subsequent reports show a combined HBFoL Fidelity balance.

    Source: Treasurer reports completed transfer to Fidelity; Treasurer reports completed transfer to Fidelity; Third-quarter annual summary with Fidelity balance; 2014 year-end annual summary

Transfers

Entries record what each document says, in the dollars of its day. A fund that stops appearing in the reports was not necessarily closed or spent.