Trustees of the Trust Fund
October 16, 2008
Trustees Meeting

Those Present: Elsie Morse, Cara Marston and Bill Provencal. Others: Anne Grady, Pittsfield Elementary School, Susan Hipkiss, Pittsfield Middle-High School and T. J. Shaughnessy
Secretary’s Report:
Secretary’s minutes accepted written.
Treasurers Report:
C. Marston presented a brief synopsis of Trust fund activities through a spreadsheet format. Treasurers Report accepted as presented.
Old Business:
Continue review and modification of the Investment Policy and Guidelines of Trust Funds.
New Business:
Anne Grady and Susan Hipkiss of the Pittsfield School District: Met with the following individuals who presented their requests for Musical Instruments and Music Stands and Floor Riser’s, to be funded by the Pittsfield Community Band Trust Fund. In a later discussion it was voted to fund $2,819.96 from cash with reimbursement from the Band Fund at a later date. Motion passed.
T. J. Shaughnessy: T. J. talked about the present state of the economy , the sub-prime mortgage market and his recommendation as to what the Trustees should be doing. He assured us that the Trust funds that are in the portfolios within our control are in funds with very reputable companies. He talked about the delaying of funds from the Trust Funds at this time.
Monthly withdrawals from the Sanderson Fund: As per our discussion with T.J. a motion was made to stop monthly withdrawals from the Sanderson Fund.
Citizen Bank: C. Marston reported that Citizen’s Bank will submit a proposal for investment of Cemetery Trust Funds in a new program for our consideration.
Leslie Bergevin: We will need to contact Leslie of the Foss Scholarship Committee as to a date when we can meet jointly with that committee. This will determine the date for our December meeting.
Respectfully submitted,
Bill Provencal