Casey Library Board Moves Funds for Expenses Amid $12,000 Air Conditioner Repair Quote

Casey Township Library Board of Trustees Meeting | June 26, 2025

Article Summary: The Casey Township Library Board of Trustees is seeking additional quotes for a critical air conditioner repair estimated at $12,000 and has restructured a maturing certificate of deposit to ensure funds are available for upcoming expenses.

Casey Township Library Board Key Points:

• The library’s air conditioning unit is irreparable, with an initial quote for repair or replacement coming in at $12,000.

• The board unanimously approved transferring $10,000 from a maturing $90,000 Certificate of Deposit into a money market account to cover expenses.

• The remaining $80,000 from the CD will be reinvested into a new certificate of deposit.

• Board members requested that library staff seek additional quotes for the significant air conditioner project before making a final decision.

The Casey Township Library Board of Trustees on Thursday, June 26, 2025, addressed a major infrastructure problem and took action to shore up its operating funds. The board learned that the library’s air conditioning unit cannot be repaired and received an initial quote of $12,000 to address the issue, prompting a decision to seek more bids.

During her new business report, Librarian Gretchen Murphy informed the board that a contractor, identified as Remlinger, had assessed the failing A/C system. The conclusion was that the unit was beyond repair, and the first quote for a replacement or comprehensive repair was $12,000. Board members discussed the significant cost and agreed that the library should solicit a few more quotes before committing to the project.

The board also discussed a minor but persistent issue with the library’s front door, which requires being pulled shut to latch properly. Murphy noted that this is a recurring seasonal problem.

In a separate financial matter, Trustee Chrissy Squires led a discussion regarding a $90,000 Certificate of Deposit (CD) held at Casey State that is set to mature in July. To ensure the library has more liquid funds available for expenses, the board considered how to best manage the investment. The terms of the CD include a six-month penalty for partial withdrawal after it is renewed.

To avoid potential penalties and improve cash flow, Trustee Doug Stoutin made a motion to restructure the investment. The motion called for transferring $10,000 from the principal of the maturing CD into the library’s money market account to help with expenses. The remaining $80,000 will be rolled over into a new CD.

The motion was seconded and approved by the board. This strategic financial move provides the library with readily accessible funds while continuing to earn interest on the larger portion of the investment.

The meeting was attended by President Susie Mathews, Secretary Karen Bradford, and trustees Shelly Crouch, Sharon Durham, Shawn Huisinga, Chrissy Squires, and Doug Stoutin.