1990-08-30August 30, 1990
The Seventy Ninth Annual meeting of the Commissioners of Trust Funds for the
City of Beverly was called to order at 8:05 A.M. at the Beverly National Bank.
Present at the meeting were Messrs. Smith, Dawson, Nardella and Mrs. Remare.
The 1988-89 annual report was duly accepted and signed by the members as old
business.
Mr. Lawrence M. Smith was elected chairman and Mrs. Alice M. Remere, as City
Treasurer, was elected for the fiscal year 1990-91.
A review of the allocation report dated April 1, 1990 through June 30, 1990
was done. A request will be made of the Shawmut Bank to produce an annual
report including all activity from July 1, 1989 through June 30, 1990 to be
sent prior to our next meeting in September.
* A discussion concerning the Special School Funds which total $20,234.02 as
of June 30, 1990 less expenses of $153.53, net total $20,080.49 was done
regarding the Commissioners establishing a principal fund with only the
interest to be expended. It was suggested that the interest earned on the
Special School Funds and the Raymond Fund be given to the Beverly Education
Council. This was moved and voted in.
Acknowledgement of letters of recipients of gifts from the Nancy A. Millerr
Fund were read by the Clerk. They included Beverly Female Charitable Society..
American Red Cross, Visiting Nurse Association of North Shore, Inc., Children's
Friend and Family Service Society of the North Shore, Inc., The Beverly
Regional Y~CA and Beverly Hospital "Project Good". Also a thank you was
received from Beverly School for the Deaf in behalf of Michael Goguen who
received glasses from a donation from the Isabelle Sorenson Fund.
Requests for funds were reviewed and it was voted to make the following
contributions from the Nancy A Mlllett Fund: Beverly Regional YMCA $7,500.00,
Beverly Female Charitable Society $1,000.00, Beverly Hospital Century Fund
$1,000.00, and United Way of Central North Shore $3,000.00, total $12,500.00.
The Beverly Historical Society requested a donation for carpeting in the Cabot
House. The Commissioners voted to table the request.
An smendment to the vote concerning "Special School Funds" is as follows;
a request for funds should be forthcoming from the Superintendent of Schools,
on an annual basis,
A meeting with representatives of Shawmut Bank will be requested for September
27, 1990 at 8:30 A.M. at the Beverly National Bank. Also a request of Shawmut
Bank for a letter regarding certification of securities to be used as an audit
report.
The meeting was adjourned at 9:00 A.M.
Respectfully submitted,
Alice M. Remare, Clerk
Commissioners of Trust Funds for City of Beverly