HomeMy WebLinkAbout2026-01-16-TPT-min.pdfTOWN OF LEXINGTON, MA
TRUSTEES OF PUBLIC TRUSTS
Minutes of Meeting of January 16, 2026
The meeting was held at 10:30am at Lexington Town Hall, 1625
Massachusetts Avenue, Lexington. Trustees Lester Savage and
Jim Cavallo attended in person and Alex Payne attended
telephonically.
1. The Trustees approved the minutes from the meeting of
June 27, 2025.
2. Mr. Payne updated the Board on recent discussions he has
had with the Town regarding the management of portfolio
assets. Those discussions concluded that only the Cemetery
Fund is subject to the State of Massachusetts investment
rules, and therefore the rest of the portfolio assets can go
into the State Street model portfolio. Mr. Payne is waiting
on documents from State Street to effect this change. Mr.
Payne agreed to establish a meeting with State Street to
review portfolio performance.
3. Mr. Savage provided an update on various scholarships and
gifts:
a. Mr. Savage will establish a meeting with Cindy
Wilson, the chair of the scholarship committee, to
review scholarship distributions.
b. Mr. Savage has been approached by a donor who
wants to establish a lacrosse -related scholarship. He
will discuss with Ms. Wilson.
c. A cash contribution of $50,000 has been received for
the establishment of the Concertmaster Fund.
d. The Robert Rivera fund has now been funded.
e. Mr. Savage will speak to Minute Man High School
regarding candidates for the Vernon Page scholarship.
f. As an update to prior discussions regarding work at
Lincoln Park, Mr. Savage was informed by Brian
Kelly that the Lincoln Field boardwalk work has
started and will be in need of funding soon. The
amount of the request is expected to be approximately
$40,000.
4. Mr. Payne made the Trustees aware of traffic concerns at
the Fiske School and inquired if there were any funds
available for public safety matters.
5. Mr. Savage made the Trustees aware that he has been
attending meetings for the Fund for Lexington. Mr. Savage
planned to investigate if it was possible for the Trustees to
support the Fund.
Meeting adjourned at 12:00pm.
Respectfully submitted,
James E. Cavallo, Trustee