HomeMy Public PortalAbout20110620 - Commissioners of Trust Funds - Meeting MinutesCommission of Trust Funds
June 20, 2011 6‐7:30 PM
Attendance: Tom Garabedian, Mary Arnaut, Maureen Kane Bumiller,
Visitors: Tina Rose, Paul Kinnaly, Rownak Hussain
Agenda: Call to Order
Motion made by Tom Garabedian to explain how the Commission of Trust Funds operates to
our new member, Mary Arnaut. Maureen Kane Bumiller seconded the motion and all in favor.
Acceptance of Minutes: Tom Garabedian will review March, April and May 2011 minutes.
McGovern Trust: Rownak Hussain presented bills from the Library for:
NE Aquarium membership for $ 650, Movie Licensing for $ 350, Audioeditions, CD’s,
Amazon supplies.
Rownak Hussain also previewed upcoming expenditures for July 2011 such as:
Periodical Subscriptions for $ 5,000
MARS System License membership for database for 14,000.
Mary Arnaut requested to Rownak Hussain that for future requests for money from the
McGovern Trust that the request be made in a letter with a signature. Follow‐up letter sent to
Rownak Hussain.
Tina Rose attended most of meeting and brought past years of old Commission of Trust Funds
Records. Tom Garabedian will contact Norman Khumalo about finding file space for our old
records in Town Hall and report back to us about that.
Our Commission held election of officers:
Chairperson‐Tom Garabedian
Secretary‐ Maureen K. Bumiller
Future Meeting Dates: All on Wednesdays
July 20, 2011 at 6PM
August 17, 2011 at 6PM
September 14, 2011 at 6PM
Paul Kinnaly from Morgan Stanely smith explained the investments made for the McGovern
Trust which are classified as conservative with the emphasis on preservation. For all detail,
refer to the Consolidated Account Review prepared on and distributed this Commission’s
members this evening.
Paul Kinnaly will investigate his company managing our other Trust Funds and if any fees would
be incurred for that. He will report back to the Commission.
Submitted by Maureen K. Bumiller