ASHBY FREE PUBLIC LIBRARY FUND

6/1/1998-5/31/1999

The Ashby Free Public Library Fund was formed by the Trustees of the Ashby Free Public Library to hold and assist the Trustees in administering gifts and bequests given to the library for scholarships and other library purposes. The elected Board of Trustees and the Board of Directors of the Ashby Free Public Library Fund are the same people.

The fund is recognized as a non-profit charitable organization under federal law and donations are tax deductible. Additional donations and bequests are gratefully accepted.

The Board of Trustees of the Ashby Free Public Library determines how the income is to be used in accordance with the donors’ requests and stipulations. The majority of the income from these gifts and bequests is used to provide scholarships to any Ashby resident who is attending a full time program of higher education. All students who apply and provide proof of attendance will receive a scholarship for each year of study up to a maximum of 5 years. The amounts of the scholarships depend on the number of applicants and the amount of income available. Principle is preserved by reinvesting 10% of the income per year. The rest of the income is used for special library needs or scholarships. Occasionally small gifts are given and spent for specific library purposes.

This year the three Ashby graduates from North Middlesex Regional with the highest ranking will be receiving $650 scholarships. The Ashby Alumni Scholarship was awarded to Jean Manney, the Ruth Brooks Scholarship to Robert Leblanc and the Lyman-Marston scholarship to Adam Hopkins.

An additional 53 Ashby students will be receiving $275.00 scholarships. Some of these students will be receiving this award for the first time while others have already received over $1000 in aid.

In June of 1997, funds in the care and custody of the financial secretary of the Board of Trustees of the Ashby Free Public Library were transferred to the treasurer for reporting purposes. These funds have been generally referred to as the memorial funds. These funds consist of donations, usually in small amounts, made in memory or honor of a person, or as donations for books or materials. There are no restrictions on the principal but the wishes of the donors and/or the families of memorial donations are honored when expenditures are made from these funds. A history of some of the donations will be included in an upcoming report.

 

7/1/98

INT

OTHER

OUTGO

6/30/98

Barbara Lyman Fund

$ 3,660.40

$ -

   

$ 3,660.40

General Fund

$ 13,259.15

$ -

$ 388.00

$ 338.84

$ 13,308.31

Total balance

$ 18,451.03

$ -

$ 388.00

$1,083.49

$ 17,755.54

Donations were given this year by the Antilla Family in memory of Kathleen Hill, Leon Evans and Fredrick Evans and by the Lyman Family. Money was expended an upholstered chair, reading lamp, magazine rack and a book cart.

Respectfully submitted,

Judith Kulju, treasurer

ASHBY FREE PUBLIC LIBRARY

ASHBY FREE PUBLIC LIBRARY FUND INC.

COMBINED BALANCE SHEET 98/99
 

PRINCIPAL

EXPENDABLE

LIBRARY GROUP

$ 2,604.68

$ 718.18

ALONZO CARR

$ 5,222.02

$ 1,692.75

DR HASKELL

$ 2,625.63

$ 850.96

FREIDA LYMAN LIBRARY

$ 5,222.02

$ 1,971.01

FREIDA LYMAN SCHOL

$ 30,867.34

$ 2,117.43

RUTH BROOKS

$ 180,222.18

$ 12,361.34

ASHBY ALUMNI

$ 8,092.76

$ 1,408.52

A.A.W. LOCKE

$ 5,241.22

$ 505.27

FRANCIS MARSTON SCH

AT SAFETY FUND

$ 1,319.68

FRANCIS MARSTON GEN

AT SAFETY FUND

$ 918.00

B LYMAN

$ 5,062.28

$ 393.38

OTHER FUNDS  

$ 817.62

 

$ 245,160.13

$ 25,074.14

EXPENDABLE FUND BALANCES
SCHOLARSHIP FUNDS
 

BALANCE

INCOME

EXPENDED

TRANSFER TO

BALANCE

 

6/30/98

   

PRINCIPLE

6/30/99

FREIDA LYMAN SCHOOL

$ 2,251.17

$ 1,935.16

$ 1,875.38

$ 193.52

$ 2,117.43

RUTH BROOKS

$ 13,142.17

$ 11,298.64

$ 10,949.62

$ 1,129.86

$ 12,361.34

ASHBY ALUMNI

$ 1,276.90

$ 507.36

$ 325.00

$ 50.74

$ 1,408.52

A.A.W. LOCKE

$ 534.54

$ 328.59

$ 325.00

$ 32.86

$ 505.27

FRANCIS MARSTON SCH

$ 1,166.57

$ 803.11

$ 650.00

$ -

$ 1,319.68

OTHER FUNDS

$ 754.97

$ 62.65

$ -

$ -

$ 817.62

 

$ 19,126.33

$ 14,935.51

$ 14,125.00

$ 1,406.98

$ 18,529.86

GENERAL LIBRARY FUNDS          
 

BALANCE

INCOME

EXPENDED

TRANSFER TO

BALANCE

 

6/30/97

   

PRINCIPLE

6/30/98

LIBRARY GROUP

$ 571.21

$ 163.29

$ -

$ 16.33

$ 718.18

ALONZO CARR

$ 1,398.11

$ 327.38

$ -

$ 32.74

$ 1,692.75

DR HASKELL

$ 702.81

$ 164.61

$ -

$ 16.46

$ 850.96

FREIDA LYMAN LIBRARY

$ 1,886.37

$ 327.38

$ 210.00

$ 32.74

$ 1,971.01

FRANCIS MARSTON GEN

$ 787.64

$ 401.55

$ 271.19

$ -

$ 918.00

EDWARD & BARBARA LYMAN

$ 407.74

$ 317.37

$ 300.00

$ 31.74

$ 393.38

 

$ 5,753.89

$ 1,701.59

$ 781.19

$ 130.00

$ 6,544.28