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TOWN OF LEXINGTON <br />TRUSTEES OF PUBLIC TRUSTS <br />Minutes of Meeting of February 4, 2014 <br />The meeting was held at 7:30 pm at the home of Alan Fields at 42 Adams Street, Lexington, MA. <br />Investment Committee members Lou Conrad and Adrian Jackson joined Trustees Alan Fields, David <br />Williams and Susan McClements at the meeting. <br />Minutes from the Trustees November 5, 2013 meeting were unanimously approved. <br />Alan reviewed the performance of the Funds for the Trustees. Year to date the Funds are performing well <br />relative to the benchmarks. <br />The Trustees and Investment Committee discussed asset allocation and management of the two Cemetery <br />Perpetual Care Funds. Alan will follow up with a letter to State Street asking about the asset allocation and <br />diversification of these funds given their perpetual nature. <br />The Trustees discussed other projects in Town that might need funding. <br />David Williams reported requests for two new funds: <br />1. The Robin Glabe Fund established with $11,000 <br />2. The Michael Fivash Scholarship Fund currently with $9400 in donations and anticipating more <br />than the $10,000 minimum required to establish a fund. <br />David will seek Selectman authorization to accept the two funds. <br />The Trustees unanimously approved the disbursement of scholarship funds to the 2014 scholarship recipients <br />and/or their schools. <br />The Lexington Arts & Crafts Society sent a thank you note for the $750 grant to fund the State of Clay <br />exhibit. <br />The Trustees agreed to wait until the Spring to propose a meeting with counterparts in Arlington (Steve <br />Gilligan is contact) and Concord (Tony Logalbo is contact). <br />The meeting adjourned at 8:30 pm. <br />Respectfully submitted, <br />Susan K. McClements <br />