Trustees of Public Funds
Town Office Basement
March 30, 2017 - 11 AM
Present: Henry Hotchkiss, Kelly Ziegler
The reorganization of the committee has been postponed until all the committee members are present.
Henry showed Kelly two work sheets that he created with information about the “Trustees of Public Funds” Mutual Fund Accounts and Bank Accounts.
A discussion about the evaluation of the two Putnam Funds performance and the need for more diversification took place.
Henry reviewed the March 07, 2017 Town Meeting Day Article that was passed by the voters.
Article# 11 – “Will the voters of Pittsfield authorize the monies collected from perpetual care donations be invested by the Trustees of Public Funds, of which only the interest and/or dividends can be used, for the care and improvement of the cemetery.”
Henry mentioned that most of the money in the People’s United Bank checking account was perpetual care donations and needed to be invested. The dollar amount in this checking account is around $7,000.00.
Kelly and Henry agreed that research on Mutual Funds investment options needed to be done before the next meeting.
Next meeting TBD.
Meeting adjourned at 11:30 AM.
Recorded by:
Henry Hotchkiss
Approved: s/Kelly Ziegler s/Henry Hotchkiss
Town Office Basement
March 30, 2017 - 11 AM
Present: Henry Hotchkiss, Kelly Ziegler
The reorganization of the committee has been postponed until all the committee members are present.
Henry showed Kelly two work sheets that he created with information about the “Trustees of Public Funds” Mutual Fund Accounts and Bank Accounts.
A discussion about the evaluation of the two Putnam Funds performance and the need for more diversification took place.
Henry reviewed the March 07, 2017 Town Meeting Day Article that was passed by the voters.
Article# 11 – “Will the voters of Pittsfield authorize the monies collected from perpetual care donations be invested by the Trustees of Public Funds, of which only the interest and/or dividends can be used, for the care and improvement of the cemetery.”
Henry mentioned that most of the money in the People’s United Bank checking account was perpetual care donations and needed to be invested. The dollar amount in this checking account is around $7,000.00.
Kelly and Henry agreed that research on Mutual Funds investment options needed to be done before the next meeting.
Next meeting TBD.
Meeting adjourned at 11:30 AM.
Recorded by:
Henry Hotchkiss
Approved: s/Kelly Ziegler s/Henry Hotchkiss
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