2006-07-13-TPT-min - Laserfiche WebLink

Browse Search

TOWN OF LEXINGTON TRUSTEES OF PUBLIC TRUSTS Minutes of Meeting July 13, 2006 The meeting was held at 12 :30 PM at the offices of Atlantic Trust at 100 Federal. Street, Boston, MA. Present were Trustees Alan Fields, Thomas Taylor and David Williams, - and David Ely and Dennis Dywer from SSGA. The minutes of the January 24, 2006 meeting were approved. The portfolio was reviewed. It was noted that the portfolio is over weighted in international and under weighted in fixed income. It was decided to take 3% out of the emerging markets fund and put it in fixed income. It was also noted that the Core Opportunities Fund is underperforming, as are all such funds. It was decided to make no changes at present but monitor its performance against the S & P benchmark. It was voted to pay $3970 for maintenance of the flower barrels in the Center, $2000 from the Jack Eddison Fund and the balance from the George Gilmore Fund. It was voted to accept the Lexington High School Music Endowment, subject to the receipt of at least $5000. It was voted to accept The Lexington High School Class of 1976 Scholarship, subject to receipt of at least $5000. A request of funds to buy uniforms from the William Diamond Jr. Fife & Drum Corps was deemed not appropriate for our trust funds and they will be referred to the Fund for Lexington. A request from Master Singers was also deemed not appropriate and they will be referred to the fund for Lexington. Notice wa& received that decisions on disbursements from the George O. Smith Scholarship Fund will be made by the PTA Council Scholarship Committee. It was voted to disburse approximately $2500 from the William Tower Memorial Park Fund for the repair of the wall at Tower Park. It was voted to approve the list of scholarship awards for 2006 prepared by David Williams. Next meeting October 19, 2006 at 12:30 P M at the offices of Atlantic Trust. Tom Taylor, Secy.