HomeMy Public PortalAbout20140610 - Commissioners of Trust Funds - Meeting MinutesHopkinton Comissioners of Trust Funds Meeting Minutes from June 10, 2014
Meeting was called to order at 4:05 PM
Attendance: Commissioners - Maureen Bumiller, Tom Garabedian, Mary Arnaut (last meeting for
fiscal year 2014) Quorum was present.
Guests: Rownak Hussain, Muriel Kramer, Claire Wright
I. Library Requests: Rownak requested $360.30 for CAT renerwal/movie licensing;
$1779.13 for a lap top and docking station for library staff; and $672.79 for digital
books. Each request was reviewed, a motion made and seconded to accept the requests,
and passed to approve the funds from the McGovern Trust Fund. Tom asked Rownak to
check on any release of funds and outstanding invoices with the Town Treasurer's Office
to get funds transferred for covering remaining library expenses for fiscal year 2014.
II. Tom reported on the McGovern Trust Fund balances, as of 5-31-14, the interest
account balance was $175,866.89 and the principal account balance was $1,626,834.34.
For the non-McGovern Trust Fund balances, a printout was presented and will be
put on file with the meeting minutes in the Town Financial Officer's office.
III. Next Claire talked about a request for money to replace some trees at the Mt. Auburn
Cemetary, per her letter to Tom for the commissioners. Claire presented pictures,
costs, and a details of the problems with the sugar maples at the cementary. After a
discussion and review, the commissioners made a motion, seconded, and approved an
expenditure from the Holman Trust Fund in an amount not to exceed $2232.00 to be
spent by the Cemetary Commission for new trees at the Mt. Auburn Cemetary. Tom
also received an email request from Michael Giradi, chairman of the Historic Commission,
for money from a trust fund for trees . Mr. Giradi mentioned the Holman Fund, but it is
actually the Claflin Fund that is the correct one. Tom will follow-up with Michael to get more
information and to let Michael know to make his request for money from the Claflin Trust.
IV. Meeting Minutes from April were read into record and a motion made to accept was
seconded, and passed.
V. Next a motion was made for the 2015 officers slate as follows: Maureen Bumiller
as Chair, Tom Garabedian as Investment Liason, and Muriel Kramer as secretary.
The motion was seconded and passed. Muriel requested was information on logistics
of how the Commission works and how money from the trust funds gets expended.
The current commissioners provided an overview to help prepare Muriel for her newly
elected position. Congratulations to Muriel on her election.
VI. No other new or oustanding business was discussed.
VII. The next meeting date is July 9 at 5:00 PM in Room 203. Muriel will schedule
it via the Town website.
VIII. A motion was made and passed to adjourn at 5:03 PM
Respectfully Submitted, Mary Arnaut