Halifax Trustees of Public Funds

Special Meeting

December 1, 2023, at 9:30 AM

Halifax Town Office, 246 Branch Road, West Halifax, VT

Trustees in attendance: Steven Cohen, Patrick McAllister, Laurel Copeland

MINUTES

CALL TO ORDER – 9:34 am

APPROVAL OF MINUTES – N/A

CHANGES AND/OR ADDITIONS TO AGENDA

Copeland advised report be revised to say “Trustees” consistent with State information.

NEW BUSINESS

McAllister explained the Cemetery Perpetual Care Reserve Fund and the volunteer funds management as he understands it – by the Trustees as a fiduciary fund versus by town treasurer / town clerk. One of the statutory functions of this body is to manage cemetery funds, donated funds not those allocated by the Town. Copeland mentioned the Halifax Cemetery Restoration Team monies are managed by the town because the town pays invoices against it. McAllister suggested that the Cemetery Commission can suggest to people when purchasing plots that they can donate money or leave a bequest to the town, to be managed by the Trustees, for perpetual maintenance.

Copeland noted that Town Meeting 2024 the Trustees will submit one 2-page report for inclusion in the Annual Report rather than three one-page reports as has been done in the past. Cohen noted that Cael Scholarship was not awarded in FYE2023 because no applications were received, and this should be included in the report. McAllister suggested that the URL for TPF on halifaxvt.com website be included in the report.

OLD BUSINESS – N/A

OTHER BUSINESS

McAllister raised the point that the Scott Fund has been used by the town to pay down the Garage Bond for the Town Garage; the debt has been paid so the Select Board must now decide how the fund should be used for FY2025. Copeland advised that the Eames fund, which is similar in that the fund may be used by the town for any purpose, shows two withdrawals in FY 2023 of $3,000 on 8/31/2022 and $2,000 on 2/13/2023, while the budgeted amount for FYE2023 was $1,500. Copeland will look into the discrepancy and report back; she noted that no withdrawals have been made in FYE2024 from Eames Fund. Copeland advised that the Cemetery Fund CD’s are coming due in January and the Cemetery Commission will decide how much to take out for FY 2024 and how much to roll over into a CD.

HEARING OF VISITORS – N/A

ADJOURNMENT – 10:55 AM