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West Bend library board adopts 10% undesignated fund-balance policy, renews maturing CD and approves annual report
Summary
The West Bend Community Memorial Library Board voted Feb. 17 to adopt a 10% undesignated fund-balance policy, renew a maturing certificate of deposit while allocating accrued interest to donor-specified uses, and approve the library's DPI annual report; one board member abstained on the fund-balance policy.
The West Bend Community Memorial Library Board on Feb. 17 adopted a policy to maintain a minimum undesignated fund balance equal to 10% of the operating budget, approved the renewal of a maturing certificate of deposit with donor-interest allocation, and accepted the library's DPI annual report.
Board members debated how large a reserve the library should carry and whether to set a percentage or a fixed-dollar floor. Proponents argued a 10% minimum (about $200,000 under current budgets) provides a clear emergency reserve for building issues such as HVAC failures. "I'd say 200,000 is is a pretty good number for this building," the Library Director said during the fund-balance discussion, describing the fund as the library's emergency cushion. One board member said they would abstain from the vote because of personal involvement; the motion carried after the voice vote.
On a separate finance item the board addressed a certificate of deposit maturing at month-end. Members agreed to roll the original principal ($43,000) into a new CD and withdraw accrued interest for distribution according to donor conditions. The motion to renew the CD and allocate interest as specified by donors passed by voice vote.
The board also reviewed and approved the library's DPI annual report. Staff highlighted service impacts from a recent flood-related partial closure and described collection changes: owned print holdings decreased by roughly 2,000 items year-over-year even as acquisitions resumed, physical audio materials increased and e-content counts showed mixed movement. Staff said off-site programming and outreach helped boost library visits.
Votes at a glance - Consent agenda (minutes and January expenditures): approved by voice vote. - CD renewal and donor-interest allocation (roll $43,000 principal; withdraw interest): approved by voice vote. - Undesignated fund-balance policy (minimum 10% of operating budget): approved by voice vote; one abstention recorded. - DPI annual report: approved by voice vote.
What happens next The board asked staff to circulate the finalized audit and fund-balance figures when available so members can verify the reserve level and make any needed future adjustments. The board's next regular meeting is March 17, 2026.
