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2019-11-21 Commissioners of Trust Funds Minutes
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2019-11-21 Commissioners of Trust Funds Minutes
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r <br /> Town of Reading <br /> Meeting Minutes <br /> " f:LA. <br /> Board - committee - Commission - Council: <br /> r��G J;r, ,-I RM 8: 35 <br /> Commissioners of Trust Funds <br /> Date: 2019-11-21 Time: 7:00 PM <br /> Building: Reading Town Hall Location: Lower Level Conference Room <br /> Address: 16 Lowell Street Session: Open Session <br /> Purpose: General Business Version: Final <br /> Attendees: Members - Present: <br /> Neil Cohen, John Daly, Elizabeth Klepeis, and Endri Kume <br /> Members - Not Present: <br /> John R Halsey <br /> Others Present: <br /> Minutes Respectfully Submitted By: Endri Kume <br /> Topics of Discussion: <br /> Mr. Cohen called the meeting to order at 7:05 PM. <br /> Open Session for topics not reasonably anticipated 48 hours in advance of the <br /> meeting <br /> None <br /> Meeting Notes <br /> Minutes from October 3rd, 2019, were approved as follows: <br /> On a motion by Ms Kleoeis seconded by Mr. Daly, the Minutes of the 10/3/19 meeting was <br /> approved as amended by a vote of 4-0 <br /> Review Cash Flow portfolio,discuss investment changes and Trust Balances <br /> Reports <br /> Mr. Daly informed the Commissioners that we sold 3 positions that were approved in the <br /> last meeting and we made the 151 purchase out of the 3 scheduled. One of the bonds was <br /> called, ThermoFisher and Mr. Lee, the WellsFargo advisor, was still looking for a <br /> replacement. The interest rate was sliding down and according to few analysts, the market <br /> was still holding up. Mr. Daly mentioned that the Cisco and GE market value do not have <br /> significant changes and suggested to hold those positions for now. <br /> Reading Response Program <br /> Ms. Klepeis received an email from Diane Farraher Smith related to the two clients that <br /> were using a massage service. Diane mentioned that because we no longer have a contract <br /> with Hallmark Health, she wanted the Trust Funds to pay the vendor directly and not go <br /> through Hallmark Health for the massage services. <br /> Page I 1 <br />
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