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Vaughan Fund Minutes 11/26/2013

Vaughan Fund
November 26, 2013
 
 
Chairman David H. Webster called the meeting to order at 6:34pm.  Trustees present included, Jean Demetracopoulos and John C. Kareckas.  Town Manager Perry Ellsworth was also present.  Gerald W. MacPherson, Sr. was not in attendance. Mr. Abell arrived just before adjournment.
 
Organizational
 
1. On a nomination by Mrs. Demetracopoulos, seconded by Mr. Kareckas, it was unanimously voted to elect David Webster as Chairman and Gerald MacPherson as Treasurer of the Vaughan Fund for the ensuing year.
 
Approval of Minutes
 
1. 6-11-13:  On a motion by Mrs. Demetracopoulos, seconded by Mr. Kareckas, it was unanimously voted to adopt the minutes as written.
 
New Business
 
1. The Trustees discussed the current status of the Fund.  The balance as of November 18th was $240,090.37.  The Fund has realized an 8.7% ($19,150.23) return since transferring it to LPL Financial.  Consideration needs to be given to changing the investment of the $50,000 CD at Edward Jones, which is earning a very low rate of interest.
 
Consensus of the Trustees was to hold the next meeting on February 25th and invite Ryan Hale of LPL Financial to attend.
 
ADJOURNMENT
 
On a motion by Mrs. Demetracopoulos, seconded by Mr. Abell, it was unanimously voted to adjourn the meeting at 6:44pm.
 
 
 
Attest:
 
 
 
Barbara Bennett, CCM
Town Clerk