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Vaughan Fund Minutes 01/26/2016

Vaughan Fund
January 26, 2016
 
 
Chairman John C. Kareckas called the meeting to order at 6:30pm.  Trustees present included Laura Leber, John James, and Thomas Chase.  Town Manager Perry Ellsworth was also present.  Russell Abell arrived at approximately 6:37pm.
 
Approval of Minutes
 
1. 04-28-15:  On a motion by Mr. James, seconded by Mr. Chase, it was unanimously voted to adopt the minutes as written.
 
New Business
 
1. Ryan Hale of Kennebunk Investments was present to give the Trustees an overview of the Fund status.
 
Mr. Hale explained how market fluctuations have affected the Fund.  The balance is down about 8%, but because of our investment mix, the Fund has actually outperformed the market.  Overall the Fund has weathered the changes quite well.
 
Mr. Kareckas noted that the Fund Policy allows the Trustees to disburse a percentage of the Fund’s increase in value each year.  Unfortunately, the Fund did not see an increase; and unless the Trustees wish otherwise, no disbursements would be in order this season.
 
ADJOURNMENT
 
On a motion by Mrs. Leber, seconded by Mr. James, it was unanimously voted to adjourn the meeting at 6:47pm.
 
  
Attest:
  
Barbara Bennett, CCM
Town Clerk