Trust Fund Trustees Minutes
Trustees of Trust Funds Meeting Minutes
Meeting date: July 6, 2017 @ 4:31 p.m.
Attendees: Ken Paulsen, Vicki Norris, Linda Nickerson, Bob Marshall, Bryan Sanford and Marcie MacKenzie
Reviewed scholarship paperwork submitted from Emma Brown the recipient for 2017.
Bryan & Marcie from Charter Trust reviewed funds and strategy for next 6 months for our Towns portfolio. Interest & dividends are up this year approx. $1,700 or higher in each account. Ken advised that an invoice had come in for $291.00 for charges which will be submitted to the Town for their services. Bryan advised due to political arena, stocks are up and are expected for another 2 to 3 years due to high expectations. He also advised that we should move our funds from the energy stocks to International stocks to reach a 5% goal and we agreed. Also, our money market funds will be decreased and add 2 more bonds to portfolio.
Our next review with Charter Trust was set for January 11, 2018 @ 4:30 p.m. Charter Trust advised that they will bring with them our year end reports so that we can begin the process of preparing the MS9 + MS10 for the Town and State.
Bob Marshall suggested an article in the Spirit to advise all Greenfield town of the progress the change from bank CDs to a broader investment strategy since it has been beneficial to the town. Linda Nickerson will work on an article.
Bob Marshall advised Trustees that a request had been made by the Sportsman Club to review the possibility of using some of the Sayles funds for the work they have already performed on the Savage Road property. We will contact the State on availability of the Sayles Fund for the improvements. Once we hear back we will make the select board aware of the findings.
Aaron will be submitting a request for $4,000 out of CFR fund. A brush truck was acquired that has 4 wheel drive and 1,000 gallon water capacity. The costs were for repairs, paint and lettering to add GFD etc. for Greenfield.
Next Trustee of Trust meeting is scheduled for October 12, 2017 @ 4:30 p.m. to review earnings of the funds to determine the amounts to be distributed for 2017.
We requested from Bob Marshall to make the Trustees of Trusts aware of any town meetings where any discussion would take place regarding the Common or Capital Reserve Funds so that one of the members can attend to help answer any questions regarding the funds. We would prefer to know about potential funds being spent prior to spending them so that we can be proactive rather than reactive.
Meeting was adjourned at 6:30 p.m.
Respectfully submitted,
Vicki Norris