Trustees of Trust Funds Meeting: July 16, 2025

Town of Princeton, Mass – Trustees of Trust Funds

Town Hall Annex Meeting Minutes, Wednesday, July 16, 2025, 6:00PM

Attendance

Bill Holder, Bryan Acuto and Jean Green, Trustees;  Helga Lilley, citizen

Call to order

6:09PM

Review of Meeting Minutes

The minutes of the May 8, 2025, meeting were reviewed and unanimously approved.

Election of Committee Chair

Bill Holder was elected Chair.

Review of how to market Trust Information and Raise Funds

Jean Green presented a plan on how to increase the awareness of the Town Trust funds using social media and attendance at Town events. She also reported on her talk at a recent Town Buzz and noted that Hearts for Heat was shutting down.  She raised the possibility that it could be combined with the Princeton Community Trust.

Investments

An investment update was given using the June 30, 2025, report from Bartholomew.  It was noted that the account value as of that date was $88,383.26.  The asset allocations were as follows:  61.5% in fixed income, 33% in stocks and 5.5% in cash and money market assets.  These were in conformance with the targets set out in the investment policy statement for the Trusts.

Bill Holder noted that, following a conversation with Tom Bartholomew, Bartholomew & Co. would abide by the provisions of the Addendum A to the Investment Policy Statement.

The Trustees also voted to send copies of the Investment Policy Statement (IPS) to the Town Administrator and Select Board.

Accounting Data

The current reports of income and principal balances were reviewed as of June 30, 2025. It was noted that this data included mark-to-market adjustments for the end of the June 30, 2025, fiscal year.  The current nature of the data was particularly helpful.

Chandler Bullock Memorial Tennis Fund

The Trustees met with Helga Lilley, a representative of a private group funding tennis activities in Town.  It was noted that $7,554.25 was available for fund expenses.

Helga Lilley presented a breakdown of anticipated annual tennis expenses for 2025.  The Trustees agreed to pick up expenses for trophies, tennis balls and calcium chloride.  These are expected to total $1,075.

The private group would fund website hosting, post office box expenses and teaching expenses of a tennis pro.  These are estimated to amount to $936.  It was also noted that reimbursable expenses would probably be submitted at our upcoming meeting in August.

The Trustees also discussed the possibility of formulating a marketing plan that would increase the assets of the Bullock Tennis Fund.  The preliminary thought was that an appeal would be sent to members of the Princeton Tennis and Pine Hill clubs.

Old Business

The issue of the Ministerial Fund, three funds for low income residents and the Library Trusts were discussed relative to continuing to find some sort of way to spin off or consolidate each of these funds. Bill Holder noted that he would work on a legal presentation package in early Fall.

New Business

Bill Holder presented a draft of a reply to an inquiry relative current trust accounts and any possible land donation related to them.

Next Meeting

Tuesday, August 12, 2025, at 6:00PM in the small conference room.

Meeting Adjourned

7:23 PM.