Trustees of the Trust Funds

Trustees of the Trust Fund Minutes 09.30.16

Town of Bradford Trustees of Trust Funds Meeting, September 30, 2016 No action was taken on our proposal to invest the Town’s scholarship funds and Independence Day funds in higher yield financial instruments. Michael James has yet to clear things with Terry Knowles of the NH Attorney General’s office. The Trustees voted unanimously to require two Trustee signatures for any check of more the five thousand dollars ($5000) written against one of the Trust Fund accounts The Town’s accountants have urged that we forward end-of-year financial reports. Harry Wright will follow up with Lake Sunapee Bank in securing final 2015 accountings for our various funds. TD Bank has segregated one of our Lake Sunapee transfer amounts— the money intended to…
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Trustees of the Trust Funds Minutes 08.12.16

Town of Bradford Trustees of Trust Funds Meeting, August 12, 2016 The Trustees met to further discuss ways to support the long term purposes of the 1964 Bradford School Scholarship Trust Fund and the 2013 Bradford Independence Day Celebration Trust Fund. The meeting began, however, with distribution of a 1994 hard copy list of cemetery trusts compiled by Ev Kitteredge and a 2012 hard copy listing of that year’s interest allocations to the cemetery trusts, also calculated by Ev Kittredge. It was agreed that both listings need to be updated and kept current. Michael James and Harry Wright will explore ways to scan the documents and update them. So far as we know, neither of these documents exists on a…
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Trustees of the Trust Fund Minutes 07.29.16

Town of Bradford Trustees of Trust Funds Meeting July 29, 2016 The Trustees met to discuss a revised investment policy statement. The new policy, drafted by Michael James, is mostly a novice investor’s guide to risk and reward, serving as a topographical and boundary map of the terrain needed to be understood by all Trustees of Trust Funds. Also incorporated into the new policy, however, are the principles of the Bradford Trustees’ existing Investment Policy, which was last reviewed in 2015.  The Trustees agreed to and signed the new investment policy. Most of the discussion, however, addressed issues implicit in both the old and new investment policies, specifically how to distinguish Category I from Category II trust funds. Category I…
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Trustees of the Trust Funds Minutes 07.15.16

Town of Bradford Trustees of the Trust Funds Meeting, Friday July 15, 2016 Present: Michael James, Tim Rodd, and Harold Wright (Trustees). The Trustees met to discuss the research by Michael James into ways to achieve both more flexibility and articulation in the Trustees’ current Investment Policy, which was last reviewed and updated in December, 2012. Michael has reviewed a number of policies from other New Hampshire towns and from investment management firms as well. Michael plans to compose an adaptation of his findings and circulate it to the two other Trustees. Our overall purpose is to find ways within the State’s Prudent Man and Prudent Investor Rules to increase the annual yields of selected trust funds. Harry Wright will…
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Trustee of the Trust Funds Public Notice 07.29.16

PUBLIC NOTICE                                                                             7/16/2016 Bradford Trustees of the Trust Fund Notice is hereby given that the Bradford Trustees of the Trust Funds will meet at 9:00 a.m. on Friday, July 29th at 168 Marshall Hill Road, Bradford. The agenda will consist of a continued discussion of the Trustees’ investment policies.

Trustee of the Trust Funds Minutes 06.24.16

Town of Bradford Trustees of Trust Funds Meeting, June 24, 2016 Present: Michael James, Tim Rodd, and Harold Wright (Trustees). Also, Keith Pike (TD Bank). The Trustees met with Keith Pike of TD Bank to review and discuss various on-line protocols by which Trustees can access the account information provided by TD Bank. All of the Trust accounts are now with TD Bank, and their system now provides accessibility in a variety of ways. The Trustees also discussed the need for revisions in our investment policies and proposed a next meeting to review possible changes on Friday, July 15.