HomeMy WebLinkAbout2015-11-04-TPT-minTOWN OF LEXINGTON
TRUSTEES OF PUBLIC TRUSTS
Minutes of Meeting of November 4, 2015
The meeting was held at 7:30 pm at the home of Alan Fields at 42 Adams Street, Lexington, MA.
Present were Alan Fields, David Williams and Susan McClements.
Minutes from the May 6, 2015 meeting were unanimously approved.
Alan Fields reported that the investment portfolio remains diversified across various assets
consistent with established benchmarks. The portfolio reviewed on 1, 3, 5, and 10 years bases
consistently exceeded all benchmarks. Going forward a portfolio with a balanced approach
continues to make good sense.
David Williams reported that he submitted the annual report to the town by the September 30th
deadline. David has a template for the report on his computer.
David Williams reported that the Town's Celebrations Committee will not need funds from the
American Legion Fund and the Leroy Brown Fund this year for the Patriot's Day Parade. The
committee will use last year's funds which went unspent because the parade was cancelled due to
weather.
David reported that The Friends of the Council On Aging requested $40,000 from its fund to be
used for furnishings at the new Community Center.
The PTA Council Scholarship Committee has changed its name to the Lexington Scholarship
Fund in order to more accurately represent its mission and role.
David reported on the possible request to help find a base for the Filiposki sculpture originally
purchased with funds from the Arts Council and the Trustees of Public Trusts.
Lincoln Park plans for a granite sculpture garden are underway. The Lincoln Park Committee,
of which David is a member, is working to raise funds to pay for the project. The Committee
may come to the Trustees of Pubic Trust with a request for support in the future.
There was a brief discussion of policy and procedures of Trustees and liaison with the Town.
Patrick Morin will join Adrian Jackson on the investment advisory committee.
Respectfully submitted,
Susan K. McClements
Trustee of Public Trusts