Summary of NMRLS Executive Board Meeting
April 26, 2007
By Greg Pronevitz

Investment Policy:

Greg Pronevitz asked the Executive Board to review last month’s recommendation that outlines a plan for NMRLS to begin investing in FDIC insured Certificates of Deposit (CD’s) to increase earnings on Restricted Operating Funds and Non-State Funds held by NMRLS when they are not needed to meet obligations. A Fidelity Brokerage Fixed Income Group account was recommended. This account is insured by both SIPC (Securities Investor Protection Corporation) and CAPCO (Customer Asset Protection Company). This policy was approved.

Digital Library Committee Sustainability Recommendation:

Mary Rose Quinn, Committee Chair, referred the group to a sustainable pricing model (see below) for members using the Northeast Massachusetts Digital Library (NMDL) that would encourage members to participate on a small scale, while larger users would pay more of their own costs. The Committee endorsed the pricing proposal for recommendation to the Executive Board. Committee members felt that this was a good model for an incubator that would allow libraries to begin digital library projects with NMRLS’ help. It gives members time to budget and it gives NMRLS time to seek other, less-expensive alternatives. Current costs are about $4,000 for the repository license, which equals about $1 per year per image. Digital Commonwealth membership is currently $500 per year for group membership. If this cost increases due to use, the portion above current costs would be passed on to larger users. The recommendation was approved.

Proposal (Approved 4/26/07):

Beginning July 1, 2008 (FY2009)

Entry level users: $50 per year for up to 100 images and associated metadata Other users: Actual costs for images over 100 (currently $1 per image per year). For example a library with 250 images:

$50 for the first 100 images
$150 for the additional 150 images
$200 Total per year

Upcoming Meetings

Thursday, May 17, 2007
NMRLS, Danvers
2:30 - 4:30 PM