Trustees of the Trust Funds

Stoddard Trustee of Trust Funds

Meeting Minutes – February 7, 2024

Attendees:  David Lesser, Dean Dorman

Absent:  Maureen Myer

Public in attendance:  Terri LaRoche, Charlotte Lesser

David called the meeting to order at 7:12 PM

Investment Policy

The need for investment policy was discussed  as Dean had previously provided an example.

Prudent Man is default which is what we want to follow.

Dean is willing to draft for review and could have ready for an April Meeting

Question was raised if Quarterly Review of investments is needed and thought is with where deposits are currently held it is low risk and Annual would suffice.  This will be incorporated into the policy.

David made a motion to empower Dean to to draft the investment policy for April.  Seconded by Dean.  Motion Passed unanimously.

Transfer GLVD Funds from TD to NHPDIP

David via screen share walked through the Steps to transfer the  GLVD Deposit of $40,000

Verify check has cleared in TD Bank (previously completed by David)

In NHPDIP choose “Move Fund”, then “ACH Purchase” “Single Bank account”, pick either TD Account (they are the same) hit “review”, verify you have chosen the correct NHPDIP Account and amount is correct and Submit

It takes several days to complete.  Dean will take point on validating completion and to correct the account.

Google Docs and Transfer Training

As Maureen was unable to attend the need to complete work on Google docs and have Maureen trained was discussed.  Terri would like to see a single sheet document type of “Cheat Sheet” outlining all 12 Months and what should occur that could easily be leveraged for future Trustee’s.  All should send David any recommendations on what they would like to see within Google Docs.

It was discussed if Google Docs should be read only or can be edited by all.  It was agreed that it is unnecessary to have Maureen make all the changes, but she should officially be the “keeper of the documents” so anyone that changes should enable “track changes” so that she can review and accept or bring to a meeting for discussion if needed.

Dean made a motion that David and Maureen work offline together to complete documentation and complete Transfer Training for Maureen.  David seconded, motion passed unanimously.

Term End Dates and Upcoming Town Election

David questioned term end dates.  David is up in 2024, Maureen is up in 2024 (web site shows 2026 in error, the select Board can only appoint someone to an elected position until the next election).  Dean ran last year so his end term of 2026 is correct.

The end date should be staggered so that someone runs every year for 3 years.  David would run for 3 years in 2024.  If Maureen is to run, she would run for 1 year (so that her end date is now what Terri’s would have been and in 2025 she would run again for 3 years if she stays on).    David will check with Maureen on intent.

The dates to declare candidacy are 3/27 – 4/5 (4/5 must be in person).  Terri will get the details on Mail in process to declare candidacy and also let the Town clerk know that there are two positions with different length terms.

Charlotte will see if she can edit the incorrect end date currently showing on the Town Web Site for Maureen.

David made a motion to adjourn, seconded by Dean and unanimously approved.  Meeting was adjourned at 7:51 PM