Board of Commissioners of Trust Funds Approved
Minutes of the March 8, 2012 Meeting
Present: Mayor Driscoll, Robert Lutts, Raymond Vaillancourt
Thaddeus Buczko and William P. Goreham
The meeting was called to order by Mayor Driscoll at 5:30 P.M.
The Salem Council on Aging submitted requests for February and March.
The Board reviewed the requests for medication expense reimbursement.
Robert Lutts mad a motion to approved $2,683.26 for February and $630.59 for March expenses. The motion was seconded by Raymond Vaillancourt and was voted unanimously.
Robert Lutts made a motion to approve the minutes of the January 12, 2012 meeting. The motion was seconded by Raymond Vaillancourt and was voted unanimously. Note: the meeting for February 9, 2012 was cancelled.
Robert Lutts distributed the first quarter report dated 12/31/11 from the Eastern Bank. The Board reviewed the current status of funds. A copy of the report will be forwarded to the City Auditor.
Mr. Lutts received a request from the City Treasurer to develop an Investment Policy to have available for the annual audits in the spring. The Board will work together and with the Eastern Bank Investment Advisors to fulfill this request.
There being no further business, the meeting was adjourned at 6:10 P.M.
Next scheduled meeting is Thursday, April 12, 2012.
Respectfully submitted:
F. Kay Fouhey, Clerk
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