Trustees of the Trust Funds Meeting Minutes
10-18-2013
Attendees:
Cara Marston
Ross Morse
Harry Vogt
J. Daniel Davidson
Adam Davidson

Opening:
The meeting of the Trustees of Trust Funds was called to order at 8:10 AM, October 18, 2013 in the Pittsfield Town Hall by Harry Vogt, Meeting Chair.

Approval of Minutes: Minutes of the July 29, 2013 meeting were approved as presented.

Approval of Treasurer’s Report: The treasurer’s report was approved as distributed.

Old Business:
1. The Sanderson Trust Fund request notification will be advertised in The Suncook Valley Sun in October, November, and December and will include the availability of the application on the town website and at the Town Hall. Requests to be reviewed January 2014.

New Business:
1. J. Daniel Davidson and Adam Davidson, Financial Advisors, updated the trustees on the current investments of The Foss Family Pittsfield Town Scholarship Trust.
2. Trustees reviewed a draft of the fundraising letter to be sent out to Foss Scholarship recipients. Harry will make suggested edits and present again for approval.
3. Request For Proposals: The trustees discussed the need to put out for bid a request for proposals for financial advisors as relevant to those investments outside of the Foss Trust. Harry will research the process and return to the trustees at their next quarterly meeting with timeline on how best to begin the process in 2014.
4. Annual review:
a. Band Trust: No revisions after review. Trustees will look into defining “alternatives/real estate” with advisors.
b. Capital Reserve and Expendable Trust: No revisions after review.
c. Cemetery Trust: No revisions after revew. Trustees will look into defining “alternatives/real estate” with advisors.
5. Dollars for Scholars Update: Trustees discussed the process to accept the funds of the dissolution of Dollars for Scholars. Cara will draft a letter to the Board of Selectmen to accept the monies and form a trust for its original intent.
6. Harvey A. Marston Memorial Scholarship Fund: Cara will send out copies of the trust for review with the intent that the trustees will accept the trust at their next meeting Friday, November 15, 2013, 8:15 AM.

Next Meeting: 11/15/13, 8:15 AM – Discuss and accept Harvey A. Marston
Memorial Scholarship Fund

Adjournment: The meeting was adjourned at 9:32 AM.

Minutes submitted by: Ross Morse