Library trustees close unused PNC trustee checking account, approve budget transfers and defer audit approval

The St. Mary's County Library Board of Trustees voted in October to close a seldom-used PNC trustee checking account and transfer its balance to the Rudolph memorial Vanguard account, approve a fiscal-year 2021 budget amendment and several trustee spending recommendations, and defer final acceptance of the written audit until the board can complete a full review.

Treasurer Sandy Hellenstein told the board the PNC checking account had seen almost no activity in recent years and that the balance—about $610—would be better used in an investment account that supports the library intern. "I would suggest that we close that account out and that we transfer, I think it's $610 over into the Rudolph investment account," Hellenstein said. Board President Jim Hanley moved the transfer and account closure; John Walters seconded. The board approved the motion by voice vote.

Why it matters: trustees manage a small set of dedicated donor and trustee funds separate from the library’s operating budget. Consolidating dormant accounts into the Vanguard accounts that earn dividends will simplify bookkeeping and modestly boost the memorial fund that helps pay the summer intern.

The trustees also approved a final fiscal-year 2021 budget amendment that reallocates $86,300 to cover expenses that were incurred before June 30 but billed afterward. Director Michael Dunn explained that end-of-year invoices and vacancy savings created timing and line-item differences…