Trustees of the Trust Funds
August 27, 2009
Trustees Meeting

Those Present: Elsie Morse, Cara Marston, Bill Provencal, Richard Foss and Lois Foss
Secretary’s Report:
Secretary’s minutes accepted as written

New Business
Page 3 of The Trust Agreement between Richard C. Foss and Lois Foss was examined and the following changes were discussed:
1. What is a Trust Year? It was agreed that September 1 to August 31 would constitute a Trust Year.
2. The term of the Trust Years would be the three previous years in lieu of two previous years.
3. The formula is to be the average of the Fair Market Value of those three years to be multiplied by 4%.
These three changes were voted on and agreed by the Trustees and Richard and Lois Foss.
The next meeting of the Trustees will follow the Scholarship Committee meeting in October when a date is set by that Committee.
Motion made to adjourn.
Respectfully submitted,
Bill Provencal