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Town of Reading <br />' z Meeting Minutes <br />Board - committee - Commission - Council: <br />Commissioners of Trust Funds <br />ikECEIVE[) <br />TOWN CLERK <br />RFAMN?( MAV <br />2021 NOY 15 AM 8: 33 <br />Date: 2021-07-07 Time: 6:30 PM <br />Building: Reading Town Hall Location: Lower Level Conference Room <br />Address: 16 Lowell Street Session: Open Session <br />Purpose: Specific Business Version: Final <br />Attendees: Members - Present: <br />Neil Cohen, Mark Dockser, John Daly, Elizabeth Klepeis, and Endri Kume <br />Members - Not Present: <br />Others Present: <br />.,_....e..«r..u.. auhmitted Bv: Endri Kume <br />Topics of Discussion: <br />Mr. Cohen called the meeting to order at 6:32 p.m. Mr. Cohen asked Mr. Kume to provide <br />an update on the Open Meeting Law changes. According to recent legislative updates, Mr. <br />Kume informed the Commissioners that the Zoom meetings could continue until April 2022. <br />Open Session for topics not reasonably anticipated 48 hours in advance of the <br />meeting. <br />None <br />Acceptance of minutes from prior session. <br />Mr. Cohen and Ms. Klepeis asked made few minor changes to the minutes. <br />Review portfolio. Discuss investment changes. <br />Mr. Cohen asked Mr. Daly for any significant changes to the portfolio and investments from <br />the last meeting on 6/17/21. Mr. Daly replied that there were no significant changes, and <br />there was not much to report at this meeting. <br />Review Cash Flow and Trust Balances Reports. <br />Mr. Cohen asked Mr. Kume to provide a summary of the Cash Flow and Trust Balances. Mr. <br />Kume informed the Commissioners that he had finalized opening two CDs, one with North <br />Shore Bank and the other one with Needham Bank. Both CDs were for a term of 18 months <br />with an interest rate of 0.509%. Mr. Kume informed the Commissioners that he was not able <br />to update the Schedule of Investments due to timing and will work on finalizing it for the <br />next meeting. Cash flow was being worked on and was on schedule. There were no <br />significant changes from the previous meeting. <br />Mr. Dockser had a question related to the expendable balance of the Trust Funds. The <br />question was how the Commissioners could encourage the use of the expendable balances <br />Page I 1 <br />