June 16, 2011 Minutes

Trustees of the Trust Fund
June 16, 2011
Trustees Meeting (Draft)

Those Present: Elsie Morse, Cara Marston ,Bill Provencal and T. J. and Joe Shaughnessy
New Business:
The Trustees met with T. J. Saughnessy who presented and reviewed the Investment Portfolio for the Town of Pittsfield. The Trustees expressed concern over the low current value of the Wilmington Trust/Foss Family Investments and the Yield of the fund. We examined the Asset Allocation of the fund with concern over the Cash and Short Term Allocation of 11%. T. J. will provide us a more in depth of the funds breakdown at our next meeting.
Meeting was adjourned.
Next regular meeting will be held in August, T. J. to confirm with Cara as to the exact date.
Respectfully submitted,
Bill Provencal, Secretary