January 16, 2015 Minutes

Trustees of the Trust Funds Meeting Minutes
Cara Marston
Ross Morse
Harry Vogt
Daniel Davidson
Adam Davidson
The meeting of the Trustees of Trust Funds was called to order at 8:00 AM, January 16, 2015 in
the Pittsfield Town Hall by Harry Vogt, Meeting Chair.
Secretary’s Report: Accepted as presented.
Treasurer’s Report: Accepted as presented.
Old Business:
1. Stapleton Scholarship update: In response to the email from the school district’s
attorney, recommendations were made around the annual report requested by the
donor and the alternate purpose of the trust funds, should dissolution be requested.
2. Review of Investment Policies: The trustees reviewed the investment policies of the
trusts and the internal control policies. Investment policies were assigned to groups of
similar policies to be voted upon at the next trustees meeting. The internal control
policies were also reviewed. The use of terminology is now consistent with that used by
Citizens Bank in regard to “Special Trusts.”
New Business:
1. Davidson Financial Update: A report was presented on the status of the funds of the
Foss Family Pittsfield Town Scholarship. Next update was scheduled for July 17,
Next Meeting: 1/22/15, 8:00 AM – Foss Scholarship Meeting
1/30/15, 8:00 AM – MS-9, MS-10 & Sanderson Proposal Reviews
Adjournment: The meeting was adjourned at 9:00 AM.
Minutes submitted by: Ross Morse