Back to Scholarship Committee Meeting Minutes
Wednesday, October 19, 2010
Hingham Town Hall
The meeting was called to order at 7:40 P.M.
Attendees: Thomas Hagstrom – Chair
Jean Montgomery - Treasurer
Kurt Weisenbeck – Clerk
Absent: Clay Graham
The Committee voted unanimously:
1. To accept the minutes from the April 14, 2010 meeting.
2. To reallocate within the fund in order to both cover the disbursement of the 2010 scholarship awards totaling $144,000 and to rebalance the fund to align with Investment Policy target allocations (70% equity, 30% fixed income). The reallocations will be based on September 30, 2010 valuations. The following actions will be taken:
a. Sell 441 shares of the Vanguard Growth and Income Fund
b. Sell 276 shares of the Vanguard Mid-Cap Index Fund
c. Sell 393 shares of the Vanguard PRIMECAP Fund
d. Sell 1062 shares of the Vanguard Small-Cap Growth Index Fund
e. Sell 114 shares of the Dodge & Cox International Stock Fund
f. Buy 5084 shares of the Vanguard Inter-Term Investment Grade Bond Fund
g. Remaining proceeds to go to the Vanguard Prime Money Market Fund
- Tom Belyea, a visitor to the meeting, inquired about donation opportunities.
- The Committee discussed ideas for encouraging donations, which include creating a "frequently asked questions" guide for potential donors and publicity through an article in the Hingham Journal.
- The Committee scheduled the spring meeting for Wednesday, April 13, 2011 at 7:30 P.M. at Hingham Town Hall.
The meeting was adjourned at 8:20 P.M.