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Library
Debates
Finances
By SHARON KILPATRICK
Rappahannock News Staff Writer
The Library Board got into heated debate last Thursday about who can vote in committee meetings. The board had decided to ask the finance committee to make a recommendation on how to invest over $30,000 of the library’s permanent funds. The finance committee is to report by the August meeting “or sooner if something hot comes along,” Chairman William Young said.
The money is currently in a savings account in the Rappahannock National Bank. Most of the permanent funds comes from the estate of Ann Phelps Lane; about $6,900 is from the sale of stock.
Board member Mary Jamieson said the stock sale had cost the library $390 is commissions and nearly $790 in potential increased value of the stock if it had been kept through the end of June. “We’ve got to be more considered in our decisions,” she said.
The board approved a motion submitted by Mrs. Jamieson that when they receive a recommendation on investments, it wrill be referred to the finance committee for a recommendation to the entire board.
See Library, Page A-5
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