By Bruce Rolfe
The Lawrence Memorial District Library received a positive review of financial statements by the Library Board’s auditing firm at the November 25 library board meeting.
Lisa Melnik, of Flegal & Melnick CPA, said as of March, 2025, the Library has $239,000. She adds the library has $92,000 in unassigned fund balance, which is an accumulation of the organization’s profits. She said the unassigned fund balance total is healthy for a library the size of Lawrence Memorial District Library.
When looking at revenues and expenditures, the library had revenues at just over $100,000, with approximately $86,000 in property taxes representing the largest source of revenue. She said property tax revenue came in higher then expected.
Expenditures for the previous fiscal year was approximately $52,000 for a net excess of approximately $47,000.
Compared to the previous year, Melnik said the library had a profit of $69,000, giving the organization two consecutive profitable years.
She said the overall fund balance for the library is $248,000.
Library Treasurer Wendell Stoeffler said as of the November 25 meeting, the Library had $134,066.94 in the checking account and $10,714.04 in the savings account. The Library also has three CD accounts with $25,000 in each. He said one account has an interest rate of 4.05%, and the other two are at 3.91%.
All three accounts leaves the Library with $219,780.98. Stoeffler adds the Library has approximately $150-$175 in updated interest for the three CDs, and approximately $3,626.60 in stock, leaving the Library the ability to access nearly $225,000.
The Library budgeted revenues at approximately $85,000 however the fiscal year ended with revenues standing at approximately $100,000 for a profit of approximately $15,000. The Library budgeted approximately $85,000 in expenditures, however there were only approximately $52,000 in expenses, putting the library under budget by approximately $32,000.
Insurance Policy Update
Ryan Brown of Decker Insurance Agency, informed the board the yearly premium has increased $466. Brown said economic volatility and a property value increase of approximately 5% were factors in the overall premium increase.
He adds most Decker Insurance Company policy increases have been 10-12%.
“With a library, you always want to make sure that your building value is very accurate. The reason for that is you only have one building. It’s not like the township or the village that have multiple buildings where you have a blanket limit over the top of all of them. With the library we only have one building. So we want to make sure we’re guarding against inflation. We’re always guarding against economic volatility,” said Brown.
Busy Month in November at Library
Library Director Bill Lewis said there were 121 checkouts from Overdrive for the month of October, including 68 audio books, 31 magazines and 22 books.
October activity from the library included 105 check outs, and 121 check ins for a total of 226, giving the library an October combined total of 347. Lewis said that breaks down to 15.09 pieces of material handled per day for the 23 days the library was open in October.
The patron count for October included 149 adults, 15 juvenile, and 22 children for a total of 186. There were an additional 177 visitors Halloween.
There were 10 people who participated in four story hour events in October.
There were four citizens who visited with Sen. Albert when the senator held office hours in the library October 31.
There are 44 children enrolled in the Dolly Parton program and 38 children have graduated.
The library director notes patron savings for October was $1,245.91. For the year through October, patron savings for checking materials out of the library is $25,905.25. Lewis said patron savings is based on what the book or other items that are checked out of the building would have cost if the patron would have purchased the book or item.
Lewis said Paige Amos will no longer be working at the library due to her school schedule. He has identified a person to fill the position.
Lewis adds the library currently has 827 patrons, one more than last month. He said library staff continues to clean the patron database for people that have moved or have passed away.
Renovations Discussed
The Library Board reviewed 4 renovation layout options for the children’s room.
The Library Board will continue to review the designs before seeking a quote.
Wage Adjustments Approved
With the State of Michigan minimum wage increasing to $13.73 an hour January 1, 2026 and $15 per hour January 1, 2027, Library Director Bill Lewis recommended the board increase the library employee hourly rate to $14.
The Library employee hourly rate is currently at $12.90.
Lewis also recommended adjusting his salary from $5,280 to $6,000.
The board unanimously approved both recommendations effective January 1, 2026.
New board member Adam Audette was introduced by Board President Joel Amos. Audette was appointed to complete the term that was held by Jamie Camp, who resigned.
The Lawrence Memorial District Library received a positive review of financial statements by the Library Board’s auditing firm at the November 25 library board meeting.
Lisa Melnik, of Flegal & Melnick CPA, said as of March, 2025, the Library has $239,000. She adds the library has $92,000 in unassigned fund balance, which is an accumulation of the organization’s profits. She said the unassigned fund balance total is healthy for a library the size of Lawrence Memorial District Library.
When looking at revenues and expenditures, the library had revenues at just over $100,000, with approximately $86,000 in property taxes representing the largest source of revenue. She said property tax revenue came in higher then expected.
Expenditures for the previous fiscal year was approximately $52,000 for a net excess of approximately $47,000.
Compared to the previous year, Melnik said the library had a profit of $69,000, giving the organization two consecutive profitable years.
She said the overall fund balance for the library is $248,000.
Library Treasurer Wendell Stoeffler said as of the November 25 meeting, the Library had $134,066.94 in the checking account and $10,714.04 in the savings account. The Library also has three CD accounts with $25,000 in each. He said one account has an interest rate of 4.05%, and the other two are at 3.91%.
All three accounts leaves the Library with $219,780.98. Stoeffler adds the Library has approximately $150-$175 in updated interest for the three CDs, and approximately $3,626.60 in stock, leaving the Library the ability to access nearly $225,000.
The Library budgeted revenues at approximately $85,000 however the fiscal year ended with revenues standing at approximately $100,000 for a profit of approximately $15,000. The Library budgeted approximately $85,000 in expenditures, however there were only approximately $52,000 in expenses, putting the library under budget by approximately $32,000.
Insurance Policy Update
Ryan Brown of Decker Insurance Agency, informed the board the yearly premium has increased $466. Brown said economic volatility and a property value increase of approximately 5% were factors in the overall premium increase.
He adds most Decker Insurance Company policy increases have been 10-12%.
“With a library, you always want to make sure that your building value is very accurate. The reason for that is you only have one building. It’s not like the township or the village that have multiple buildings where you have a blanket limit over the top of all of them. With the library we only have one building. So we want to make sure we’re guarding against inflation. We’re always guarding against economic volatility,” said Brown.
Busy Month in November at Library
Library Director Bill Lewis said there were 121 checkouts from Overdrive for the month of October, including 68 audio books, 31 magazines and 22 books.
October activity from the library included 105 check outs, and 121 check ins for a total of 226, giving the library an October combined total of 347. Lewis said that breaks down to 15.09 pieces of material handled per day for the 23 days the library was open in October.
The patron count for October included 149 adults, 15 juvenile, and 22 children for a total of 186. There were an additional 177 visitors Halloween.
There were 10 people who participated in four story hour events in October.
There were four citizens who visited with Sen. Albert when the senator held office hours in the library October 31.
There are 44 children enrolled in the Dolly Parton program and 38 children have graduated.
The library director notes patron savings for October was $1,245.91. For the year through October, patron savings for checking materials out of the library is $25,905.25. Lewis said patron savings is based on what the book or other items that are checked out of the building would have cost if the patron would have purchased the book or item.
Lewis said Paige Amos will no longer be working at the library due to her school schedule. He has identified a person to fill the position.
Lewis adds the library currently has 827 patrons, one more than last month. He said library staff continues to clean the patron database for people that have moved or have passed away.
Renovations Discussed
The Library Board reviewed 4 renovation layout options for the children’s room.
The Library Board will continue to review the designs before seeking a quote.
Wage Adjustments Approved
With the State of Michigan minimum wage increasing to $13.73 an hour January 1, 2026 and $15 per hour January 1, 2027, Library Director Bill Lewis recommended the board increase the library employee hourly rate to $14.
The Library employee hourly rate is currently at $12.90.
Lewis also recommended adjusting his salary from $5,280 to $6,000.
The board unanimously approved both recommendations effective January 1, 2026.
New board member Adam Audette was introduced by Board President Joel Amos. Audette was appointed to complete the term that was held by Jamie Camp, who resigned.
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