Halifax Trustees of Public Funds

Special Meeting 

February 25, 2026, at 12:00 Noon

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

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

DRAFT MINUTES

CALL TO ORDER at 12:02 pm

 

APPROVAL OF MINUTES – minutes from November 6, 2024, approved

 

CHANGES AND/OR ADDITIONS TO AGENDA – None.

 

NEW BUSINESS 

  1. Midyear report to Select Board – similar format as annual report with the summary grid with updated numbers; omit other details; include any unusual events or change, for example, if the Scott Fund lost a lot of value. Send PM the numbers for July-December 2025. 
  2. Four CD’s for Cael Fund all on same schedule – The 4 Cael fund CD’s were moved to the same maturity date to take advantage of higher interest rates. Cael bequeathed the funds to be deposited in a Vermont bank.
  3. Eames Fund savings account vs checking account – converting from savings account to checking account will lose the $54 interest + the $6 fee for a bank check once a year; no action at this times. Alternatively, the money could be invested in an account at Edward Jones (with Scott Fund and Wicks Fund). Could put some amount such as $5100 in the money market account associated with the investment. Motion to present the idea to SB in late March and meet again in May to decide whether to move the CD funds to an investment account. 
  4. Write up processes for reporting to Select Board, Annual Report page for town meeting, and obtaining funds from the various accounts – ask the Select Board about where this could be placed, for example, in the town Procedures Manual. A storage location might make things easier for auditors, going forward. 

 

OLD BUSINESS 

  1. Audit – can the process be more standardized so it can be done ahead of the request? Audit processes for Halifax have been changing so probably not. SC cannot see the BSL online statements; this will be addressed. For the Scott Fund, you have to get the Edward Jones account manager to issue the balance as of June 30th. Make a note of this when reporting to the auditors. 

 

OTHER BUSINESS – None.

 

HEARING OF VISITORS – None.

 

ADJOURNMENT – at 12:50 pm

Audio recording at: https://us02web.zoom.us/rec/share/mnfshx021mbYeM3My3VlUCa6r3kkl5fYcdLRPGyO8NzKEkhTKtJNIUy7-jHwUTnS.LVsYFz4XnFjcDWgU
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