Back to Scholarship Committee Meeting Minutes

Hingham Scholarship Fund Committee - Meeting Minutes

Wednesday, March 11, 2009
Hingham Town Hall
The meeting was called to order at 7:05 P.M.
Attendees: Frank Gaul – Chair
Jean Montgomery – Treasurer
Kurt Weisenbeck – Clerk
Clay Graham
Thomas Hagstrom
James MacAllen
Roger Nastou
Matthew Welch
Absent: None

The Committee voted unanimously:

1. To accept the minutes from the October 10, 2008 meeting.

2. To disburse 5.5% of the total fund balance as of March 31, 2009 for 2009
scholarship awards in December 2009.

3. To rebalance the funds to align with the Investment Policy target allocations of 70% equity / 30% fixed income. The following actions will be taken:
a. Sell Long-Term Treasury to reduce total fixed income allocation to 30%.
b. Reallocate sale proceeds to equity funds to match target allocations by
equity style per the Investment Policy.

4. To elect Thomas Hagstrom as the new Chair and to reelect Kurt Weisenbeck as Clerk effective July 1, 2009.

Other Business:
- Frank Gaul and Jim MacAllen will leave the Committee on June 30, 2009 as their terms will expire. The Committee thanks Frank and Jim for their service.

- Committee members are encouraged to identify potential new members and to contact either Jean Montgomery or Betty Tower with names.

- The Committee scheduled the fall meeting for Wednesday, October 7, 2009 at 7:30 P.M. at Hingham Town Hall.
The meeting was adjourned at 7:50 P.M.