2011-03-30 Trustee of the Trust Funds Minutes.mht

Trustee of the Trust Funds

Wednesday 30 March, 2010

Meeting Minutes

Approved

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ATTENDANCE: =

&= nbsp; &nbs= p; &= nbsp; Mary Gleason, John Kachmor, Cindy Ronning &= nbsp; Trustees

ALSO IN ATTENDANCE:

&= nbsp; &nbs= p; &= nbsp; Ed Gleason = &= nbsp; Selectman Liaison

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Meeting Summary

Minutes Review:

The Trustees approved the meeting minutes of 23 February, 2010 with minor modification.

Election of Officers

The Trustees voted to elect Mary Gleason as Chair, John Kachmor as Bookkeeper a= nd Cindy Ronning as Secretary for the 2011 term.

Old Business

John Kachmor will contact Judy Noel about Citizens Bank’s action item deal= ing with their ability to process the School Department’s yearly request = for a July to June financial statement for their accounts.

New business

John Kachmor will also contact Citizens about the following:

&nbs= p; The available income in the School Scholarship Funds which can be used for Scholarships in M= ay

&nbs= p; Citizens providing a Medallion Certificate for the remaining sale of stocks held by = BYN Mellon.

The Trustees recorded receipt of the following checks from the Town for deposit in the appropriate Trusts/CRF’s per the March 2011 Town Vote:

&nbs= p; $100,000 for the Willow Street Bridge CRF

&nbs= p; $100,000 for the Compensated Absence Fund

&nbs= p; $18,335 for the Cemetery Maintenance Fund

The Trustees were ad= vised by the BOS Liaison that an invoice in the amount of $45,000

would be forthcoming= from the Town for maintenance and care of town forests in

accordance with the approval of Warrant Article 8 in March. Upon transfer of the funds to<= /o:p>

the Town, the BOS wi= ll be responsible for the approval of any such expenditures per the

approved Warrant.

John Kachmor will co= ntact Marie Maruca about authorizing the electronic replication of the=

Trust Fund origin bo= ok using funds approved in the 2011 budget.

John Kachmor informe= d the Trustees that the 2011 Investment Policy has been submitted

to the Terry Knowles= of the Charitable Trust Division under the NH AJ’s Office in<= /span>

accordance with state regulations.

Discussion on the substance of future meetings was held with the determination that

Citizens Portfolio Representatives would be requested to attend the 4 May 2011 meeting to=

review portfolio performance and conduct the scheduled Quarterly Review.

A subsequent meeting= in June will be scheduled to review the Concentration Account

balances and make a determination as to which funds could be candidates for investment

in 2012.

Next Meeting

The next scheduled Trustee Meeting is scheduled for 4 May, 2011 in the Police Community Room

Adjournment: The meeting adjourned at 5:15 PM

Respectfully submitted,

Ed Gleason

Acting Secretary= &nb= sp; =

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