Meeting Minutes : Trustees of Public Funds – 9/24/19 – Draft

Pittsford Trustees of the Public FundsDRAFT

September 24, 2019 at 4:00 P.M.

Municipal Office – Conference Room

 

Attendance: Trustees; Brad Keith, Tom Hooker, Hank Pelkey. Also, present: Gary Gibbs and Craig Arsenault, of People’s United, Wealth Management Group and Helen McKinlay, Recording Secretary.

Administration

The meeting was called to order by T. Hooker at 4:03 PM. A motion by H. Pelkey and second from B. Keith to accept the agenda as presented. The motion passed unanimously.

Public Comment

None at this time.

Old Business

None at this time.

New Business

The Booth Fund portfolio was reviewed and is doing very well with a year to date return of 13.66%. The fund growth is due to reinvestment of the equity.

The Burditt Fund portfolio was reviewed and is doing very well with a year to date return of 17.41%. The average return on this fund from inception is of 8.87 %. Gary Gibbs pointed out this fund has given out $585,343.91 over the years in support of our schools.

The Pinney Fund was invested at People’s Bank Wealth Management Group. Account documentation was signed by the Trustee’s and Treasurer. Interest will be paid on this fund from the date the check was transferred.

A motion was made by T, Hooker and seconded by H. Pelkey to adjourn. The motion passed unanimously. There being no further business, the meeting was adjourned a 4:44 PM.

 

Respectfully submitted,

_____________________________ _____________________________

Helen E. McKinlay Brad Keith, Trustee – Chair

Treasurer & Recording Secretary

____________________________ _____________________________

Tom Hooker, Trustee Hank Pelkey, Trustee