Board of Trust Fund Commissioners

CITY OF SALEM, MASSACHUSETTS Dominick Pangallo Office of the Mayor Board of Commissioners of Trust Funds Minutes of the September 14, 2023 Mee�ng Present: William P. Goreham, Sumner Jones, Richard Lobsitz and Ashley Judge The mee�ng was called to order at 4:00 P.M. in the conference room, City Hall. The Mayor was unable to atend the mee�ng due to a posi�ve COVID test. The Eastern Bank supplied the First Quarter Report ending 6/30/23. Total Market Value was $10,779,437.75. The Board reviewed the report and unanimously accepted it as presented. The Clerk distributed the FY24 Large Grant Fund Distribu�on by Quarter. The total approved for FY24 was $102,800.00. Sumner Jones made a mo�on to approve the minutes of the June 8, 2023 mee�ng. The mo�on was seconded by Richard Lobsitz and voted unanimously. The Board received a leter from MGH suppor�ng the Salem Pantry’s partnership to provide fresh, healthy foods for distribu�on to individuals and families facing food insecurity and to promote healthy ea�ng. The partnership will bridge the gap between food insecure individuals and food security resources that benefits their health and wellness. The Clerk will reach out to the Salem Pantry for a proposal for this specific partnership. Administra�ve expenses were unanimously approved by the Board: Staples for leterhead - $281.80 and Deluxe Checks - $189.50. Three scholarships requests were received by the Board. Sumner Jones made a mo�on to approve $2,000.00 per request from the Beane Fund for the students. The mo�on was seconded by William P. Goreham and voted unanimously. Previously approved requests were reviewed: 7/5/23 – Council on Aging - $760.99 – Endicot Fund, 7/5/23 – Harris Music Award - $50.00 Harris Fund - $100.00 Discre�onary Funds, 7/21/23 – Council on Aging - $122.23 – Endicot Fund, 7/21/23 – Cemetery Commission – interest earned on 10 Cemetery Accounts - $120974.42, 9/11/23 - Council on Aging - $1,211.43 – Endicot Fund. Eight thank you notes were received from agencies and scholarship award winners. A discussion was held with references to urgent requests and how to proceed; email, telephone, or possibly use a Salem.com address. The Clerk will review this informa�on with the City Solicitor. It was also requested that the Members reply to “all” for any group email responses. Salem City Hall • 93 Washington Street • Salem, Massachusetts 01970 p: (978) 619-5600 • f: (978) 744-9327 • www.salem.com/mayor The Board also had a ques�on for the Council on Aging; do they have any other financial access or agencies they partner with for clients in addi�on to the City Trust Funds? The Clerk will reach out to Sharon Felton, LSW for more informa�on. Just a reminder, The Samaritan’s Conference on “The Many Faces of the Homeless” will be held 9/20/23 at the PEM. The next scheduled mee�ng is November 9, 2023 at 4:00 P.M. in the City Hall Conference Room. There being no further business, the mee�ng was adjourned at 4:45 P.M. Respec�ully submited: F. Kay Fouhey, Clerk Salem City Hall • 93 Washington Street • Salem, Massachusetts 01970 p: (978) 619-5600 • f: (978) 744-9327 • www.salem.com/mayor