Trustees of the Trust Fund
June 26, 2008
Trustees Meeting

Those Present: T.J. Shaughnessy, Elsie Morse, Cara Marston and Bill Provencal

Treasurers Report:
C. Marston presented in the Investment Policy as it now stands. Members were given copies so they can examine it and see how it fits in with the Prudent Investor rule.
Internal Control: Members as to examine the internal control policy of the Town of Hampton.

Old Business:
Request from Stan Bailey of defraying of costs of clock repairs. We will wait to see outcome of clock repairs.

New Business:
T.J. Shaughnessy of Mass Mutual Financial Group reviewed the
status of our investment portfolio. He provided explanation of the composition of our investment profile. In reference to a question of foreign investments, T.J. was asked to look into how our investments comply with the Prudent Man rule.

Board Vacancy: We are awaiting a reply from Terry Knowles of the State Attorney Generals Office in regards to a possible conflict of interest of one of the members.

A request was received from Kate Osborne for scholarship assistance. A motion was made by E. Morse and seconded by C. Marston to provide her with $2,000 from the F. B. Argue Scholarship Fund.

It was agreed that 2007 income of $6,300.20 from the Cemetery Fund and $1,006.96 from the School Trust Fund that 25% of the income from both funds be put pack into principal.

Trustees will meet on August 1st to sign scholarship checks.

Next regular meeting to be held on September 18th.

Respectfully submitted,
Bill Provencal