HomeMy WebLinkAbout2006-07-13-TPT-minTOWN 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.