Board of Commissioners of Trust Fund
Minutes of the March 13, 2014 Meeting
Present: William P. Goreham, Raymond Vaillancourt and Thaddeus Buczko
The meeting was called to order at 5:30 P.M.
Susan Syversen, CFP, Senior Vice President of Eastern Bank Wealth Management and Rose Grant Brooks, Managing Director of Eastern Bank Wealth Management attended the meeting and presented a review of the trusts and investments. They reviewed the Portfolio Performance which is up 19% in one year. In addition, they reviewed the economic and market outlook and notices and disclosures. The Board will review their proposal for increased fee rates and have tabled this for additional discussion.
Mary Tuttle wrote on behalf of Salem’s elementary art teachers for assistance for their biannual project that is designed and coordinated for students in their Art CAN Start a Tradition collaborative program. The Board members reviewed the request and Raymond Vaillancourt made a motion to approve $700 from the Discretionary Funds to help support the program for seven elementary schools in Salem. The motion was seconded by Thaddeus Buczko and voted unanimously.
The Council on Aging submitted a request in February for assistance for medication expense. Raymond Vaillancourt made a motion to approve $1,233.27 from the Endicott Fund. The motion was seconded by William P. Goreham and voted unanimously.
The Council on Aging submitted a request in March for assistance for medication
expense. William P. Goreham made a motion to approved $86.82 from the Endicott Fund. The motion was seconded by Thaddeus Buczko and voted unanimous.
The Cemetery Commission submitted a statement from Cicoria Tree Service for Greenlawn Cemetery. Raymond Vaillancourt made a motion to approve $7,000 from the Meldon Fund. The motion was seconded by William P. Goreham and voted unanimously.
Raymond Vaillancourt made a motion to approve the minutes of the January 9, 2014 meeting. The motion was seconded by William P. Goreham and voted unanimously.
(The February meeting was cancelled due to a snow storm.)
A check was received from the City of Salem for Perpetual Care ($4,250, Ck#00249403, dated 2/6/14). This will be deposited as a line item to the Perpetual Care Fund.
The Cemetery Commission submitted three statements for payment from the cemetery funds:
Fannin – Lehner $12,345 Perpetual Care Fund Howard Street Cemetery
O’Connell Plumbing, Inc. $135 Dickson Fund Dickson Chapel
Stadium Oil Heat $825.74 Dickson Fund Dickson Chapel
Salem State University submitted their costs for the Read Lecture grant for $2,454.48.
Checks were dispersed.
There being no further business, the meeting was adjourned at 6:20 PM.
Respectfully submitted:
F. Kay Fouhey
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