Board of Trust Fund Commissioners

Board of Commissioners of Trust Funds Page 1 of 2 Minutes of the September 8, 2016 Meeting Present: William P. Goreham, Thaddeus Buczko, Sumner Jones and Richard Lobsitz The meeting was called to order at 5:30 P.M. in the Mayor’s Office, City Hall. The Board reviewed available funding for the FY2017 Large Grants. It was determined that there would be a decrease in funding this year. The total expenditures for General Assistance and Fuel Assistance would be limited to $80,000. Specific funding from the Browne, Read Lecture, Endicott and Towne funds would be $19,300.00. Thaddeus Buczko made a motion to approve the funding as above for FY2017 Large Grants. The motion was seconded by William P. Goreham and voted unanimously. FY2017 Large Grant Funding Approved: North Shore Community Action Program $20,000 Catholic Charities $10,000 The Salvation Army $ 6,000 St. Vincent de Paul Society $ 2,000 Life Bridge $ 2,000 Salem Pantry $ 3,000 Josephs Storehouse $ 2,000 Boys & Girls Club $ 7,000 Salem YMCA $ 7,000 Children’s Friend $ 7,000 Plummer Home $ 7,000 Salem Cyber Space $ 7,000 Salem Philharmonics/Browne Fund $ 5,500 Willows Concerts/Browne Fund $ 1,800 Salem State University/Read Lecture Fund $ 2,500 Brook House Home/Endicott Fund $ 5,000 Women’s Friend Society/Towne Fund $ 4,500 Sumner Jones will be investigating some additional options for the funding of future grants. He will review the information with the City Solicitor. More information will follow. A request was received for banking information for the annual City audit. It was forwarded as requested. A thank you note was received from a student for the annual scholarship awards. Board of Commissioners of Trust Funds Minutes for September 8, 2016 Meeting Page 2 of 2 The Clerk will send out year end interest checks to the Salem Public Library for the Nichols and Read Library Funds as well as to the Cemetery Department for the Perpetual Care Fund. Thaddeus Buczko made a motion to approve the minutes of the August 11, 2016 meeting. The motion was seconded by William P. Goreham and voted unanimously. There being no further information the meeting was adjourned at 6:35 P.M. Respectfully submitted: F. Kay Fouhey, Clerk *The minutes are considered in draft form until approved at the next meeting.