MIME-Version: 1.0 Content-Location: file:///C:/191C5D13/0408009TrusteeMinutes.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" 0408009TrusteeMinutes

Trustee of the Trust Funds

Wednesday 8 April, 2009

Meeting Minutes

 

 

Approved

        &= nbsp;

ATTENDANCE:               = Laurette Guay Chairperson

        &= nbsp;           &nbs= p;            &= nbsp;    Mary Gleason, Cindy Ronning- Truste= es

 

 

ALSO IN ATTENDAN= CE:

David Boyden        Finan= cial Advisor, Commonwealth Financial Network

Tricia Arndt         &= nbsp;         &= nbsp; Financial Advisor, Commonwealth Financial Network

Dr. Frank Bass      Pelham School Distr= ict Superintendant

Eleanor Burton      Chair Pelham School Board

Kathleen Sargent=   Pelham School Distr= ict Business Administrator

Dr. Dorothy Mohr=    Pelham High School<= /st1:PlaceType> Principal

Ed Gleason  = ;          Pelham Board of Selectmen

George Harris, J= r  Track 2001 Donor<= /p>

John Harris        &= nbsp;  Track 2001 Donor-Son

Betsy Harris        &= nbsp;          Track 2001 Donor-Daughter

 

        &= nbsp;

        &= nbsp;         

AGENDA:        &= nbsp;             &= nbsp; See Attachment

        &= nbsp;           &nbs= p;            &= nbsp;   

 

The meeting was conducted in accordance with the Attached Agenda.

 

Meeting Summary

Selectman Gleason, acting as an advisor to the Trustees of the Trust Funds, provided = an overview of Trust fund requirements and outlined the actions he felt necess= ary to properly disposition the donation of approximately $19,500 in stock to t= he Pelham Track 2001 Trust Fund.

Necessary paperwork delegating the Trustee of the Trust Funds with fiduciary responsibility for the stocks was executed, certified and filed with the at= tending Commonwealth Financial representatives for their disposition.

Subsequently, it was agreed by the participating parties that the stock should be sold at= the earliest opportunity. The proceeds check will then be forwarded to the Trus= tees for deposit in the Citizen Concentration account.

As work on the Track concession stand progress, necessary construction funds w= ill be withdrawn form that account through the Citizens Disbursement account.

Mr. Harris expressed concern about the ability to pay for p= ayment on delivery construction services if normal Trustee payment policy was followed. Chairperson Guay recommended that the school construction team provide a pre-delivery invoice so that a check could be prepared and availa= ble for payment upon delivery of materials/services. The school construction te= am would then file the final invoice with the Trustees to validate the final amount.

The Trustees then agreed to process such requests in a timely manner.

 

Subsequently, Mr. Harris inquired as the outstanding balance of the Track 2001 Trust Fund before deposit of the latest donation. Upon disclosure that the balance was $118, Mr. Harris advised his accountant Steve Ziogus had indicated $20,000 should be remaining.

The Trustees agreed to research records in an attempt to determine where the discrepancy might lie.

Mr. Gleason also agreed to contact Mr. Ziogus to determine the basis for his assertion that $20,000 remained in the fund.

 

Mr. Harris also indicated that further donations would be forthcoming for additional improvements to the Track, but specific dollar figures were not = disclosed.

Any such donations will be handled with the Trustee Fiduciary agreements made during this meeting.

 

 

Adjournment: The meeting convened at 1:15 PM PM

 

Respectfully submitted,

 

 

Ed Gleason

Acting Secretary

 

 

 

 

 

 

&nbs= p;