Hooper Trustees Present: Peggy Pschirrer (Chair); Steven Dalessio; Cheryl Mayberry
CALL TO ORDER: Mrs. Pschirrer called this Hooper Trustees meeting to order at 7:52 PM.
HOOPER TRUSTEES MINUTES:
HOOPER TRUSTEES MEETING – September 20, 2018: Mr. Dalessio moved to accept the Minutes of the Hooper Trustees meeting of September 20, 2018, as submitted. Seconded by Ms. Mayberry. With Mr. Dalessio, Ms. Mayberry and Mrs. Pschirrer in favor, the Minutes were approved.
Hooper Trusts: Mrs. Pschirrer reported that the Office of Charitable Trust has determined that the interest which was accrued on the Scholarship Trust Fund may not be merged with the interest on the Education Trust. It has to be kept separate. There was a lengthy discussion on merging the two Trusts. The Scholarship Committee will have access to this interest. Therefore, it can be spent and eventually it will disappear. Mr. Dalessio noted, at this time, there is $40,000 for Scholarships.
The next meeting of the Institute Board is Tuesday, October 9thand their budget is due on Wednesday, October 10th. The Hooper Trustees will review it on Thursday, October 11th.
Cambridge will not be paying much interest for Capital Reserve Funds. Mrs. Pschirrer suggested they ask Mr. Kimball, Ms. Galloway and Mr. Winmill to attend a meeting to have a discussion on moving Capital Reserve Funds to PDIP. Ms. Mayberry agreed as need clarity on this.
Ms. Mayberry spoke to two people who expressed an interest in being on the Scholarship Committee.
Ms. Mayberry moved to adjourn this Hooper Trustees meeting. Seconded by Mr. Dalessio. With Ms. Mayberry, Mr. Dalessio and Mrs. Pschirrer in favor, the meeting was adjourned at 8:14PM.
Regina Borden, Recording Secretary