HomeMy WebLinkAbout2014-02-04-TPT-minTOWN OF LEXINGTON
TRUSTEES OF PUBLIC TRUSTS
Minutes of Meeting of February 4, 2014
The meeting was held at 7:30 pm at the home of Alan Fields at 42 Adams Street, Lexington, MA.
Investment Committee members Lou Conrad and Adrian Jackson joined Trustees Alan Fields, David
Williams and Susan McClements at the meeting.
Minutes from the Trustees November 5, 2013 meeting were unanimously approved.
Alan reviewed the performance of the Funds for the Trustees. Year to date the Funds are performing well
relative to the benchmarks.
The Trustees and Investment Committee discussed asset allocation and management of the two Cemetery
Perpetual Care Funds. Alan will follow up with a letter to State Street asking about the asset allocation and
diversification of these funds given their perpetual nature.
The Trustees discussed other projects in Town that might need funding.
David Williams reported requests for two new funds:
1. The Robin Glabe Fund established with $11,000
2. The Michael Fivash Scholarship Fund currently with $9400 in donations and anticipating more
than the $10,000 minimum required to establish a fund.
David will seek Selectman authorization to accept the two funds.
The Trustees unanimously approved the disbursement of scholarship funds to the 2014 scholarship recipients
and/or their schools.
The Lexington Arts & Crafts Society sent a thank you note for the $750 grant to fund the State of Clay
exhibit.
The Trustees agreed to wait until the Spring to propose a meeting with counterparts in Arlington (Steve
Gilligan is contact) and Concord (Tony Logalbo is contact).
The meeting adjourned at 8:30 pm.
Respectfully submitted,
Susan K. McClements