Trustee of the Trust Funds
Minutes of May 23, 2009
Draft
Attending: Trustee David Allyn, Trustee Mary McHale
The meeting was called to order by Bookkeeper David Allyn at 9:02am.
Approval of Minutes
It was moved and seconded(D. Allyn/M. McHale) to approve the Minutes of April 28, 2009 with corrections. Passed unanimously.
New Business
The Trustees of the Trust Fund have received an Irrevocable Letter of Credit from TDBankNorth for insurance of the various funds deposited up to $1.7 million. This letter will be signed and sent back by Trustee Allyn.
It was moved and seconded(D. Allyn/M. McHale) to transfer $3000 from the The Elmer Smith Scholarship Fund to the General Fund and submit check requests to the Financial Assistant for immediate payment to Michael Davenport and Kiley Gendron. Passed unanimously.
Two scholarship applications were reviewed FY2009.
Old Business
It was moved and seconded(D. Allyn/M. McHale) to award reimbursement to the Creative Kids Club from the Smitty Garden Trust of up to $525 for the Summer 2009 summer trips, to be reimbursed upon presentation of receipts. Passed unanimously.
The following subaccounts have been created:
CRF Shirley Cemetery Improvements
CRF Milfoil Treatment
CRF Town Master Plan
A letter from the Attorney General’s Office has been received requesting copies of documents establishing the following funds:
Fire Department Scholarship
Elmer C. Smith Scholarship Fund
Smitty Garden Trust
Uncared For Garden Trust
M. McHale will contact the Fire Department to get the documentation.
It was moved and seconded(D. Allyn/M. McHale) to reaffirm the investment policy as written and will remain in effect for the balance of 2009. Passed unanimously.
The Trustee of the Trust Fund training is June 10, 2009 for advanced trustee training and June 9 for new trustees. David has reserved 3 seats for the advanced training.
It was moved and seconded(M. McHale/D. Allyn) to adjourn. Passed unanimously.
Meeting adjourned at 9:45am.
Submitted on May 27, 2009 by
Mary McHale
Secretary
Trustee of the Trust Funds
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