Board of Commissioners of Trust Funds Minutes Sept 8th 2022

Board of Commissioners of Trust Funds

Minutes of the September 8, 2022 Meeting

Present:  William P. Goreham, Sumner Jones & Richard Lobsitz

The meeting was called to order at 4:00 P.M.

William P. Goreham distributed the Fourth Quarter Report from the Eastern Bank.  It was reviewed and accepted by the Board members.  The Board also received information about the Eastern Bank investment objectives.

The Council on Aging did not have any requests for this meeting.

The Board reviewed the interest earned on the Read and Nichols Library Funds.  It was agreed that all the available income be paid at this time (Read $16,538.64 & Nichols $623.01).  Next year it will go back to interest earned only.

Richard Lobsitz made a motion to approve the minutes of the June 9, 2022 meeting.  The motion was seconded by William P. Goreham and voted unanimously. 

There were several transactions completed between meetings that were approved by the Board:

Harris Music Awards, $50 each, 3 students, 1 Harris Fund, 2 Discretionary Fund

Reissued Samaritans check (#8603 - 4/14/22 - $1,250.00 – lost)

Council on Aging – Eye Glasses - $274.00 – Endicott Fund

Scholarships:  Battis 1 student - $3.000.00, Beane 3 students - $2,500.00 each

Large Grants - $24,050.00

Thank you letters were received for Large Grants and Scholarships:

LEAP, North Shore Concert Band, Catholic Charities, Salem YMCA, Plummer Youth Promise, Salem Pantry, Life Bridge and one scholarship award.

The next meeting is scheduled for November 10, 2022.

There being no further business, the meeting was adjourned at 5:05 P.M.

Respectfully submitted:

F. Kay Fouhey, Clerk

*All minutes are considered to be in draft form until approved at the next meeting.