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Salisbury Free Library trustees keep annuity investments unchanged, approve routine financial items
Summary
At their March 3 meeting trustees voted unanimously to maintain two annuity investments after an update from an outside financial advisor, approved routine financial items including an invoice and the Treasurer’s Report, and tabled new library policies until a full board can vote.
Salisbury Free Library Board of Trustees Chair Michelle Carr said the board voted March 3 to maintain the library’s two annuity investments after a presentation from an outside advisor and approved routine financial business, including payment of a vendor invoice and acceptance of the Treasurer’s Report.
Independent Financial adviser Luca D’Italia told trustees the fund named for Kepper matures in about three years and the Haight annuity in about five. "The average gain for both was 4.5%," he said, adding the board could withdraw up to 10% from each annuity without penalty. He cautioned that, under the Haight bequest, "the principal investment of the Haight annuity cannot be utilized; only interest may be withdrawn," and recommended the trustees "stay the course" and leave both annuities unchanged.
On a motion by Chair Michelle Carr, seconded by trustee Leonida Rasenas, the board approved maintaining the current investment plan under the "Prudent Man Rule." The motion passed unanimously; trustees present were Michelle Carr, Cheryl Bentley, Jennifer Hoyt, Leonida Rasenas and Nicole Morency.
Treasurer Jennifer Hoyt reviewed the Treasurer’s Report and noted recent deposits, including a $2,500 donation from Salisbury Haunted Woods, a $50 donation and $41 from copier fees and the "Guilt Jar." The board approved an invoice from MicroMarketing for $287.90 and then voted to accept the Treasurer’s Report on a separate motion, both actions passing unanimously.
Director Nicole Morency reported 146 patron visits during the reporting period, one Library of Things checkout and one new patron registration. She reviewed upcoming programs — including the Cook-A-Book Club on March 18, the Book Club’s March 25 meeting to discuss Remarkably Bright Creatures, an April 11 appearance by author and humorist Rebecca Rule, and a May presentation by Willa Coroka of Magpie’s Apprentice titled "Cardinals & Coneflowers" — and recommended repurchasing popular museum passes. "The Seacoast Science Center pass is the most popular," Morency said, and would cost $300 this year if the Friends of the Library opt to buy it again. She also suggested considering passes for the Mt. Washington-related museum that includes Cog Railway access, the Montshire Museum and the Squam Lakes Science Center, and noted the Children’s Museum in Dover could be a summer-only option.
Trustees tabled a vote on newly drafted library policies until a full board of trustees is present, per the library’s policy requiring a full-board vote on policy changes. The board also discussed the Selectmen’s meeting scheduled for March 11 at 7 p.m., where Lisa Lawrence is slated to be appointed as an alternate trustee for one year; Jennifer Hoyt will attend to introduce Lawrence and to administer the oath. Trustees were reminded that newly elected trustees must take their oaths either at the Selectmen’s meeting or before the trustee meeting planned for March 12.
There being no further business, the board adjourned at 7:03 p.m. The trustees scheduled a special meeting for March 12, 2026 at 6 p.m. and set the regular April meeting for April 7, 2026 at 6 p.m.
