SCARBOROUGH PUBLIC LIBRARY
BOARD OF TRUSTEES
January 30, 2026
Hybrid
Attendees: Richard Schrader, Bryan Shumway, Ellen Detlefsen, Kate Borduas, Kathy Little,
Kellie Fisher, Kim Corthell, Nancy Rea, Peter Freilinger
Meeting called to order at 4:42pm by Kate Borduas
New Business:
Motion made to open investment account to segregate donations for a Capital campaign. The motion specifies that Peter Freilinger, acting in his capacity as Treasurer, will conduct the following;
That the Board of Trustees authorize the Treasurer to open a new investment and custodial account in the name of the Corporation to segregate donations for a Capital Campaign to support the expansion of Corporation facilities in the next five years;
That the Board of Trustees authorize the Treasurer to direct its investment manager to establish an asset allocation policy for funds places in the Capital Campaign account to support disbursement over a construction timeline from 2029 to 2031; and,
To authorize the transfer of $1.0 million from the Corporation’s current investment account to the newly established Capital Campaign account as soon as is practicable, and to be invested according to the asset allocation policy described above.
Motion to approve first by Peter, second by Nancy and carried unanimously.
Meeting adjourned at 4:44pm
Minutes by K. Little, Secretary