Board of Trust Fund Commissioners

Board of Commissioners of Trust Funds Minutes of the May 12, 2016 Meeting Present: Mayor Driscoll, William P. Goreham, Thaddeus Buczko, Sumner Jones and Richard Lobsitz The meeting was called to order by Mayor Driscoll at 5:30 PM. The applicants for Large Grant Applicants for FY2017 attended the meeting and discussed their proposals and requests: Salem Philharmonics – $7,500.00 for concerts - Browne Fund Salem State University – $2,500.00 for the Darwin Festival Lectures - Read Lecture Fund Brookhouse Home for Women – $5,000.00 for over-the-counter medication expenses – Endicott Fund Women’s Friend Society - $5,500.00 fuel assistance – Towne/Discretionary Funds Life Bridge - $5,000.00 food program – General Assistance Fund The Board will review all proposals and vote on funding at the August meeting. The 2016 Salem High School student awards will be distributed in May 2016. (Andrews Book Award – top 12 students $50.00 each, Kiwanis Club 2 students $500.00 each, R. Pinault Class of 41’ 2 students $1,000.00 each, and Beston-McDonough Scholarships top 7 students $425.00 each) The Council on Aging submitted a request on behalf of three Salem residents to assist them with medication expense reimbursement. Sumner Jones made a motion to approve $397.32 from the Endicott Fund for the expenses. The motion was seconded by William P. Goreham and vote unanimously. Sumner Jones made a motion to approve the minutes of the April 14, 2016 meeting. The motion was seconded by Richard Lobsitz and voted unanimously. The Cemetery Department submitted three requests: 1. Request to pay interest earned for FY2016 from the Perpetual Care Fund 2. Boston Computer Scanning, $1,800.00, Perpetual Care Fund 3. Dickson Chapel repair, $1,408.70, Dickson Chapel Fund Thaddeus Buczko made a motion to approve the Cemetery requests. The motion was seconded by William P. Goreham and voted unanimously. The Eastern Bank provided information about the interest earned on a three year average. The Board will table the information for further discussion on fund distributions. Board of Commissioners of Trust Funds ~ May 12, 2016 Meeting ~ Page 2 of 2 William P. Goreham distributed the Third Quarter Report from the Eastern Bank. The information was for the quarter ending 3/31/16. After discussion, Thaddeus Buczko made a motion to accept the report. The motion was seconded by Richard Lobsitz and voted unanimously. The Board Members requested that the Large Grant Proposals include the total budget for each organization and a list of the Board Members as well. The Clerk will remind them to provide this information with their proposals. The Board reviewed the interest available for the annual Read Picnic. The funds are very low. The Clerk will review this information with the Mayor. There being no further information, the meeting was adjourned at 7:00 PM. Respectfully submitted: F. Kay Fouhey, Clerk