Jackson Trustees of the Trust Funds Minutes of the Meeting, June 14, 2016
Those in Attendance: Linda Terry, Chris McAleer Helene Matesky and Martha Benesh, Alternate
Training Sessions -Chris, Martha and Linda discussed procedures and regulations that were covered at recent training sessions conducted by Terry Knowles and others of the NH Attorney General’s office. The Board reviewed procedures for the Right to Know law, new information on investment requirements, and reported that the state is developing a new report combining information currently reported on the MS 9 and MS 10.
Chris also commented on Terry’s response to his question about warrant article language and withdrawal of funds from the trust. Terry reported that Trustees should look at money raised from all sources and only release the amount of funds needed even if the warrant article language exceeds that amount as in last year’s school bus purchase. She confirmed that Boards should not be requesting any funds that exceed the invoice amount.
Meeting Minutes - It was moved and seconded to accept the minutes of the May 16, 2016 meeting with all in favor and none opposed.
Withdrawals from Trusts - The Board reviewed the BOS request for withdrawal of $3,805.90 from the Police Cruiser Capital Reserve to pay for the following invoices for cruiser accessories: $319 from Innovative Creations; $1,587.90 from Fleet Safety Equipment and $1,899 from Kustom Signs. The request was approved with 3 in favor and none opposed.
The Board then reviewed the BOS request for withdrawal of $28,812.20 from the Police Cruiser Capital Reserve to pay the following invoices for a new truck: $28, 173 From Central Chrysler Jeep Dodge and $639.20 from Professional Vehicle Corporation. The request was approved with 3 in favor, none opposed.
Investment Advisor Review - The Trustees decided to set up a meeting with representatives of Bank of New Hampshire to continue to discuss investment advisory services provided by the bank.
Discussion of Library Funds - Trustees reviewed the March will in reference to the Jackson Public Library March fund. The Board will research the background on the transfer of funds from the old library when the new library was opened.
Other Business - One of the Board members was contacted about an independent trust in town which does not currently come under the authority of the Trustees of the Trust Funds. After a brief discussion, it was decided that the Board would seek guidance from Terry Knowles on the issue.
Helene Matesky, June 16, 2016
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