HomeMy Public PortalAbout20130507 - Commissioners of Trust Funds - Meeting MinutesHopkinton Commissioners of Trust Funds Meeting Minutes May 7, 2013
Attendees: Maureen Bumiller, Tom Garabedian, Mary Arnaut
Meeting called to order at 5:02 PM
Minutes from the April 2013 meeting were read and accepted.
Review of request for funds from the Town Library director for $1734.95
were approved, with a follow-up inquiry on the money to pay the CWMars
e-books invoice #8995. .
Account update provided for the McGovern Trust in the amounts of
Principal - $1,554,357.55 and Interest - $167,510.68. Also, in June
the request for the transfer of funds from the Trust to the Town is
anticipated and the firm of Morgan Stanley will process the transfer
once approved. Furthermore, there was a motion made and seconded
and passed to approve investment recommendations from Morgan Stanley.
The recommendations document will be filed with the meeting minutes
in the Commissioners of Trust Funds file in the Town Teasurer's Office.
Outstanding business: The expenditure of trust funds will be
confirmed in the amount of two (2) $50.00 scholarships from the
Roche Trust Fund for receipents at Hopkinton High School.
The next meeting is June 4, 2013 at 5:00 PM in room 203.
Motion to adjourn the meeting at 5:24 PM was made and passed.
Respectfully submitted by Mary Arnaut