June 20, 2014 Minutes

Trustees of the Trust Funds Meeting Minutes
Cara Marston
Ross Morse
Harry Vogt

The meeting of the Trustees of Trust Funds was called to order at 7:58 AM, June 20, 2014 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. TJ Investment Advisor: Received update on trust funds/capital reserves managed. Updated advisor on the board’s intent to begin the RFP process to review potential investment advisors.
2. PYBA Update: Harry will make another attempt to gather information.
3. Foss Scholarship Update:
a. Donation/fundraising letters have been sent out.
b. Update letters will be sent upon confirmation of final draft letter.
c. New software will save considerable amount of time. Some logistics are still be worked out to allow for ease of filtering information.
New Business:
1. Training Session Review: The board reviewed areas of interest from a recent training held in Concord. Topics of interest included: Acceptance of donations by Select Board; Alternate Trustees member(s); Electronic storage of files; Use of Google Drive for files; Changes in current practices relating to Capital Reserve Funds (possibility of financial advisor fees coming from funds).
2. The Trustees will suggest to the Select Board that a Warrant Article be drafted to allow for the new State provision to allow fees to come from Capital Reserve Funds to be included for next Town Meeting, March 2015.
3. Police Department Request: The Trustees voted to approve the request of the police department for funds to offset the cost of the D.A.R.E. program. ($1,000)
Next Meeting: 7/18/14, 8:00 AM
Foss Investment Advisor Update RFP – Financial Advisors

Adjournment: The meeting was adjourned at 10:07 AM. Minutes submitted by: Ross Morse