TOWN OF FARMINGTON
BOARD OF SELECTMEN & TRUSTEES
PUBLIC MEETING MINUTES
Thursday, May 31, 2007
Selectman Present: Chairman Gerald McCarthy, Martin Gilman, Paula Proulx, Joan Funk and Joel Chagnon.
Trustees of the Trust Funds Present: Chairman John Wingate, Diane Berry, Kathy Tsiros
Chairman McCarthy called the meeting to order at 6:02pm. He stated this a joint meeting between the Selectmen and the Trustees of the Trust Funds in preparation for their meeting with the Attorney General on June 14, 2007.
John Wingate reported that during his research on the Leon Hayes Fund he had discovered a few issues that need to be addressed as the two boards are aware. In preparing all the materials for the Attorney General he also discovered that it appears Evelyn Lovejoy did not recieve her payments in 1996,1997 and 1998. Therefore, he believes the sum of $6,499.50 is owed to her estate; but it would ultimately be a question for Legal.
Joan Funk asked Mr. Wingate if he is sure he has all the pertinent information now. Mr. Wingate responded he does believe so though he couldn't find meeting minutes that included the first Leon Hayes Birthday Ball payments and the Town Hall Renovations. Kathy Tsiros stated that all the minutes are given to the Town Secretary and she is unsure of what happens to them after that. Kathy also added that the Trustee minutes of 12/11/03 include the library renovations; 1/15/04 include the $20,000 request for the Town Hall; 2/04 included the decision to donate to the library; 3/11/04 include the breakdown of funds and correspondence from Legal; and 12/8/05 include the motion to release the $20,000 from the Leon Hayes Fund.
Kathy Tsiros stated that the Trustees used the 1975 Town Report as the basis to find the principle amounts for the Leon Hayes Fund, in which it was identified that $59,000 was the principle for the Town Use portion and $18,500 for the Birthday Ball portion. Gerry questioned how the two Leon Hayes Funds ever got combined. Mr. Wingate responded that in 1988 they were separate according to records and then the next year they were put together. John asked Kathy why the MS-9 shows over $100,000 as the principle and Kathy responded that they never noticed.
Gerry asked Mr. Wingate if all the monies are accounted for and if they were spent correctly according to the Trust documents. Mr. Wingate responded that all the monies are definately accounted for and that appears to be just an issue of the correct principles being identified.
Marty Gilman questioned if Mr. Wingate knows what the Attorney General expects the Town to do. Mr. Wingate responded that he would guess they would want the Town to put the money back in the principal by paying out of the general fund or might consider letting the Town leave the Trusts alone until such time that the interest earned brings the Trusts back up to where they should be.
Paula questioned if the Trustees attend any of the trainings and workshops that are available. Kathy responded that Diane and her have attended and Patience is scheduled to attend one.
Marty Gilman motioned to adjourn, Joan Funk seconded. Motion passed with all in favor.
Meeting adjourned at 6:47pm.
Respectfully Submitted,
Brandy Sanger
Recording Secretary
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Chairman, Gerald McCarthy Vice-Chairman, Martin Gilman
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Paula Proulx Joel Chagnon
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Joan Funk
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