MIME-Version: 1.0 Content-Type: multipart/related; boundary="----=_NextPart_01CCA916.089F3D10" This document is a Single File Web Page, also known as a Web Archive file. If you are seeing this message, your browser or editor doesn't support Web Archive files. Please download a browser that supports Web Archive, such as Windows® Internet Explorer®. ------=_NextPart_01CCA916.089F3D10 Content-Location: file:///C:/191C5D13/2011-10-19TrusteeoftheTrustFundsMinutes.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" 2011-10-19 Trustee of the Trust Funds Minutes

Trustee of the Trust Funds

Wednesday 19 October 2011

Meeting Minutes

 

 

Approved November 16, 2011

        &= nbsp;

ATTENDANCE:               =

        =   Mary Gleason, John Kachmor, Truste= es

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

ABSENT:        &= nbsp;     

        =   Cindy Ronning, Trustee    =        

&nb= sp;

ALSO IN ATTENDANCE:

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

        &= nbsp;

Meeting Summary

 

Minutes Review:

 

The Trustees approved the meeting minutes of 13 September, 2011 as provided.

 

Sherman Hobbs Trust:

As a result of a thorough review of past records, Trustee Kachmor identified a 2004 transfer of approximately $13,000 dollars from three individual Trusts into the Library Renovation Trust. One of the individual trusts involved was the Sherman Hobbs Trust which has a restricted principal of $5,000. Under t= he 2004 transfer, $6,000 was debited under the Sherman Hobbs account which, in fact, reduced the trust to below the required principal.<= /p>

The Trustees will now take action to transfer back into the Sherman Hobbs Trusts adequate funds to restore the restricted principal using existing funds from the Library Renovation Trust which has in excess of $18,000 at this time.

A letter advising of such action will be forwarded to the Library Trustees as= a courtesy and the file will be documented accordingly.

Selectman Gleason will call Fran Garbowski in advance of the letter to give him a hea= ds up for the Library Trustees.

 

Other Business

The Trustees also discussed investment options for the non-portfolio CRF’s and Trusts and will initiate discussions with Christine Therrien, Citizens = Bank VP, Government and Not-For-Profit Banking, to ascertain what investment opportunities are available and request a meeting in November to discuss su= ch.

 

 

Next Meeting

The next scheduled Trustee Meeting is scheduled for 16 November, 2011 in the Po= lice Community Room at 3:00 PM.

 

 

Adjournment: The meeting adjourned at 4:05PM

 

Respectfully submitted,

 

Ed Gleason

Acting Secretary=             &nb= sp;            =          

 

 

 

 

&nb= sp;

&nbs= p;

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