TRUSTEES OF TRUST FUNDS
Meeting Minutes 08/16/2019
Members: Michael Connolly, Sarah Edwards, Lauren Kirkpatrick
Visitors present: Bob Edwards, Donna Hanson
1: Accept Meeting Minutes from 4/19/2019 Meeting
Minutes were accepted all open items were addressed.
2: Review RBC Buy Sell 2019 Results
We reduced the Annaly Capital position from 5,506 shares to 2750 shares and eliminating the following volatile or lower dividend paying positions:
We purchased and added to the following Fixed Income positions:
First Trust Preferred ETF
Nuveen Preferred Securities Fund
Pimco Investment Grade Bond Fund
Pimco Income Fund
This reduced the account’s equity exposure from 84% to 70% while giving up $1,727 of annual income.
3: Discuss the use of the Antrim school trust funds for the gym floor refinishing.
We review the August 12th letter from Bob Edwards sent to
James Elder, Principal Great Brook Middle School
Stephanie Syre-Hager, Principal Antrim Elementary School
Michael Connolly, Chair Trustees of Trust Funds Town of Antrim,NH
Mrs. Donna Hanson, Town Administrator Town of Antrim, NH
The trustees voted to approve the funds per proposed disbursement noted in the breakout below:
School Present Fund Balance Proposed Disbursement Ending 2019
AES $8,185.57 $6,520.00 $1,665.57
GBS $4,858.38 $4,075.00 $ 783.38
Town N/A $5,705.00 $ N/A
4: Rewrite Investment Policy Using RBC Draft and Trustees Standards
We reviewed the investment policy, we updated changes to follow Trustees Standards and removed RBC replacing with financial planner. Michael will send an updated “draft” to fellow trustees for final review before signing.
5: Discuss Scholarship Results
2019 awards from the Alice R. Thompson Fund
Three scholarships given in 2019 to continuing students (upperclassmen)
Grant total: $6,305
2019 awards from the Guy D. Tibbetts Scholarship Fund
One scholarship given in 2019 to a student in a medically-related field of study
Grant total for year: $1,195
2019 awards from the Joan L. Dunlap Scholarship Fund
Two scholarships given in 2019 to students attending Keene State College
Grant total for the year: $7,500
The students who won scholarships:
6: Next meeting:
Will be scheduled after our next quarterly RBC financial review meeting.