Trustees of Public Funds
Town Office Basement
May 30, 2017 - 6:30 PM
Present: Henry Hotchkiss, Kelly Ziegler, Sandy Begin
The election of the Trustees of Public Funds Chairperson is Henry Hotchkiss.
The election of the Trustees of Public Funds Secretary is Henry Hotchkiss.
The committee reviewed the subject on diversification of assets and investing perpetual care donations.
Henry showed the committee work sheets he created with information about the “Trustees of Public Funds” Mutual Fund Accounts and other investment options that the committee might be interested in.
The committee agreed that it was best to monitor the future results of the two Putnam Mutual funds to other like funds to compare the funds’ performance.
Henry showed the committee articles from investment news organizations about ETF and Index Funds.
Kelly made a motion to sell $5,000.00 worth of shares from the George Putnam Balanced Mutual Fund and take $7,000.00 from the People’s United Checking Account (Perpetual Care Deposits) and invest $12,000.00 in the Vanguard Total Stock Market Index Fund.
The result would give the Cemetery Funds under the care of the Trustees of Public Funds more exposure to the entire U.S. stock market. (large, midsize and small companies – for a 0.05% annual fee, $10,000.00 initial investment.)
Sandy seconded the motion.
Next meeting TBD.
Meeting adjourned at 7:25 PM.
Recorded by: __________________________________
Henry Hotchkiss
Approved by: s/Henry Hotchkiss, Chair Date: May 31, 2017
s/Kelly Ziegler
Town Office Basement
May 30, 2017 - 6:30 PM
Present: Henry Hotchkiss, Kelly Ziegler, Sandy Begin
The election of the Trustees of Public Funds Chairperson is Henry Hotchkiss.
The election of the Trustees of Public Funds Secretary is Henry Hotchkiss.
The committee reviewed the subject on diversification of assets and investing perpetual care donations.
Henry showed the committee work sheets he created with information about the “Trustees of Public Funds” Mutual Fund Accounts and other investment options that the committee might be interested in.
The committee agreed that it was best to monitor the future results of the two Putnam Mutual funds to other like funds to compare the funds’ performance.
Henry showed the committee articles from investment news organizations about ETF and Index Funds.
Kelly made a motion to sell $5,000.00 worth of shares from the George Putnam Balanced Mutual Fund and take $7,000.00 from the People’s United Checking Account (Perpetual Care Deposits) and invest $12,000.00 in the Vanguard Total Stock Market Index Fund.
The result would give the Cemetery Funds under the care of the Trustees of Public Funds more exposure to the entire U.S. stock market. (large, midsize and small companies – for a 0.05% annual fee, $10,000.00 initial investment.)
Sandy seconded the motion.
Next meeting TBD.
Meeting adjourned at 7:25 PM.
Recorded by: __________________________________
Henry Hotchkiss
Approved by: s/Henry Hotchkiss, Chair Date: May 31, 2017
s/Kelly Ziegler
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